Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
By Rishika Sadam
(Reuters) -Qure.AI, an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters.
The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said.
"We look to break even and be profitable next financial year. As we sort of get to that break-even...we can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week.
He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn.
Qure.AI provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca, and Medtronic and Johnson and Johnson MedTech in India.
The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates.
AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts.
"We're growing at a rate of 60%-70% every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually.
QureAI derives about 25% of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said.
The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5% of revenue.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
40 minutes ago
- Yahoo
WSI Web Enhancers' Jukka Jumisko Earns AI Consultant Certification from Leading Digital Marketing Network
New certification empowers an Albuquerque-based consultant to guide businesses through ethical and strategic AI consulting and implementation. Albuquerque, New Mexico, May 30, 2025 (GLOBE NEWSWIRE) -- Jukka Jumisko, founder of WSI Web Enhancers and a recognized leader in digital marketing in New Mexico, has earned his certification as an AI Consultant through WSI, the world's largest network of digital marketing consultants. This achievement supports Jumisko's mission to help local businesses integrate AI into their business with strategy and measurable Helping Business Navigate Artificial the last 18 months, Jumisko has emerged as a passionate educator and advocate for AI's practical applications in business, speaking at conferences and on podcasts about how AI can empower companies to operate smarter, not harder. 'AI isn't here to replace us - it's here to amplify our strengths. With WSI's AI Adoption Roadmap, we now have a structured, accessible framework that takes the guesswork out of AI. It makes innovation feel achievable.' – Jukka Jumisko WSI's certification equips consultants like Jumisko with a proven framework to help clients implement AI effectively. The methodology emphasizes: Clarity and Simplicity – Clear steps from curiosity to Strategies – Tailored to each business's goals and Innovation – Focused on real outcomes, not hype. A Local Leader in Marketing with Global Reach Originally from Finland, Jumisko rebuilt his life in New Mexico after personal and financial challenges. He launched WSI Web Enhancers in Albuquerque, which soon became the fastest-growing WSI franchise worldwide. His journey didn't stop at success - it extended into service. He has since led hands-on training workshops for small businesses, teaching entrepreneurs how to build their websites and optimize for SEO. One such student, a 60-year-old Reiki healer with only $600 to invest, followed Jumisko's teachings and quickly rose to rank #1 on Google for her niche in Albuquerque. 'I believe in building both businesses and communities. Helping a global tech company build a satellite temperature app one month, then empowering a local healer to thrive online the next - that's the kind of range and purpose I strive for.' – Jukka Jumisko The Future of AI-Driven Marketing in New Mexico With this new certification, Jumisko is expanding WSI Web Enhancers' services to include AI-powered audits, automation strategy sessions, and custom implementation plans. His global team and local expertise enable him to deliver enterprise-level results while maintaining a human-centered approach. 'I've chosen a life that blends freedom, impact, and innovation. AI doesn't have to be overwhelming - it just has to be intentional. And I'm here to help companies bridge that gap.' – Jukka JumiskoAbout WSI Web EnhancersWSI Web Enhancers is the world's largest full-service digital marketing agency based in Albuquerque, NM, and part of the global WSI network, which operates in over 80 countries and has a 25+ year history of helping businesses succeed online. WSI specializes in SEO, website development, paid advertising, and AI-driven digital strategies for growth-focused businesses. To learn more about our services, visit our website or contact us directly today!. Media Contact:Jukka JumiskoCertified AI ConsultantWSI Web EnhancersEmail: jjumisko@ Website: Jumisko Earns AI Business Consultant Certification.A video associated with this press release is available in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
41 minutes ago
- Yahoo
Elon Musk announces exit from US government role after breaking with Trump on tax bill
Elon Musk has announced on social media that he is leaving his role in the Trump administration, a departure the White House confirmed was in process on Wednesday evening. 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,' the billionaire wrote on X, his social media platform. 'The DOGE mission will only strengthen over time as it becomes a way of life throughout the government,' he said, referring to his 'department of government efficiency.' Related: Musk is pivoting from DC and Doge's failures – and wants investors to know A White House official told Reuters it was accurate Musk is leaving the administration and his 'off-boarding will begin tonight.' The departure of a man who once appointed himself Trump's 'first buddy' was quick and unceremonious. Musk did not have a formal conversation with Trump before announcing he was leaving the administration, according to a source with knowledge of the matter, who added that his exit was decided 'at a senior staff level'. Musk, the world's richest person, has defended his role as an unelected official who was granted unprecedented authority by Trump to dismantle parts of the US government. His 130-day mandate as a special government employee in the Trump administration was set to expire about 30 May. Both Musk and the administration has said DOGE's efforts to restructure and shrink the federal government will continue. Musk has been signalling his departure from Washington, and his commitment to return his business ventures, all week. He sharply criticised Trump's spending plan, and expressed frustration with the response to the efforts of his signature 'department of government efficiency' (Doge). He criticised the president's marquee tax bill, calling it too expensive and a measure that would undermine his work to make the government more 'efficient'. 'The federal bureaucracy situation is much worse than I realised,' Musk told the Washington Post on Tuesday. 'I thought there were problems, but it sure is an uphill battle trying to improve things in DC, to say the least.' He also told the Post that Doge had been turned into a 'whipping boy' that was criticised for anything that went wrong in the Trump White House. Musk had butted heads in private with some cabinet-level officials, and publicly attacked White House trade adviser Peter Navarro as a 'moron' for dismissing Musk's push for 'zero tariffs' between the US and Europe. Musk had also recently expressed frustration to White House officials over a deal between Abu Dhabi and OpenAI, the Sam Altman-led rival to Musk's own AI company, the New York Times reported. Musk had previously tried to derail the deal unless his company was included in it, the Wall Street Journal reported. The billionaire's recent 'disillusionment' with politics was also influenced by the failure of his Wisconsin judicial candidate, despite Musk spending $25m on the race, the New York Times reported. Trump and Doge have managed to cut nearly 12%, or 260,000, of the 2.3 million-strong federal civilian workforce largely through threats of firings, buyouts and early retirement offers, a Reuters review of agency departures found. Musk's political activities have drawn protests and some investors have called for Musk to leave his work as Trump's adviser and manage Tesla more closely. Having spent nearly $300m to back Trump's presidential campaign and other Republicans last year, he said earlier this month he would substantially cut his political spending. 'I think I've done enough,' Musk said at an economic forum in Qatar. While Musk had told Trump's advisers this year that he would give $100m to groups controlled by the president's team before the 2026 midterms, the New York Times reported, the money had not yet come in as of this week. Reuters and Nick Robbins-Early contributed reporting
Yahoo
43 minutes ago
- Yahoo
Artificial Intelligence Influencers To Get D.C.'s Acclaim At The AI Honors Ceremony
A black-tie gala next week will center on the topic of just about any conversation in D.C. that touches on tech: Artificial intelligence. The inaugural AI Honors, presented on Tuesday by the Washington AI Network at the Waldorf Astoria Hotel, will honor lawmakers, tech executives, researchers and others who are influential voices in AI. More from Deadline New York Times, Amazon Unveil AI Content Licensing Deal Donald Trump Urges Judge Not To Dismiss CBS '60 Minutes' Lawsuit As Paramount And POTUS Teams Talk Settlement Elon Musk Bids Farewell As Official Trump Administration Role Comes To An End Honorees include Sen. Todd Young (R-IN); Rep. Jay Olbernolte (R-CA) and Rep. Ted Lieu (D-CA), chairs of the House Task Force on Artificial Intelligence; Vice Admiral Frank Whitworth, director of the National Geospatial Intelligence Agency; Jack Hindary, CEO of SandboxAQ; Patricia K. Falcone, deputy director for science and technology at Lawrence Livermore National Laboratory; and Father Paolo Benanti, the Vatican's official adviser on AI ethics. Tammy Haddad, the founder of the Washington AI Network, said in a statement, 'The AI Honors are designed to recognize the people and ideas driving meaningful progress—and to connect leaders from across the ecosystem in a setting worthy of the moment.' The ceremony sponsors include OpenAI, Meta, Microsoft and Amazon, among other tech and AI companies. The event is happening around the Special Competitive Studies Project's AI+Expo. Best of Deadline Everything We Know About Netflix's 'The Thursday Murder Club' So Far 2025 TV Series Renewals: Photo Gallery 2025 TV Cancellations: Photo Gallery
