Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
(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.
(Reporting by Rishika Sadam; Editing by Varun H K)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
90-day extension of US-China tariff truce is likely, US commerce secretary says
A 90-day extension of a US-China tariff truce is likely, US Commerce Secretary Howard Lutnick said on Thursday, the most concrete signal from the US side about moving the deadline since bilateral talks concluded in Stockholm last week. 'I think we're going to leave that to the trade team and to the president to make those decisions, but it feels like likely that they're going to come to an agreement and extend that for another 90 days,' he said on Fox News when asked if the truce, which is set to expire on Tuesday, would be extended. Lutnick made similar comments last week while the talks were under way July 28 and 29, noting that a 90-day extension was a likely outcome of negotiations. But after the talks, only the Chinese side declared a consensus on extending the pause on tariff increases. US Trade Representative Jamieson Greer said in a CBS interview last Friday that the two sides were 'working towards' an extension. The commerce secretary spoke hours after US President Donald Trump's sweeping worldwide tariffs came into effect on Thursday, imposing at least 10 per cent on imports from about 90 countries, after multiple rounds of delays since they were first announced in April. Since April, the US has gradually increased tariffs on Chinese imports to as much as 145 per cent. In retaliation, Beijing imposed tariffs of up to 125 per cent and introduced export controls on strategic raw materials. In May, both sides agreed in Geneva to a 90-day suspension of new tariffs. A second round of talks followed in June in London, where an understanding to ease export controls on US semiconductors and Chinese rare earth minerals was struck, before the most recent round in Stockholm. Still, much appears in flux. On Wednesday Trump floated the idea that China could be subject to punitive tariffs for purchasing Russian oil, hours after he imposed 25 per cent tariffs on India for doing so. White House trade adviser Peter Navarro suggested on the same day that such action was unlikely because the higher duties might hurt the US. On Thursday, Lutnick also elaborated on Trump's Wednesday announcement that companies that manufacture semiconductors within the US would be exempt from 100 per cent tariffs on the chips they import, emphasising the role of an auditor in the process. 'If you commit to build in America during his term, and if you file it with the Commerce Department, and if your auditor oversees you building it all the way through, then he will allow you to import your chips while you're building without a tariff,' Lutnick said on Fox. Lutnick's remarks came as Trump continues his pressure on the semiconductor industry, posting on Truth Social on Thursday that Lip-Bu Tan, the chief of California-based Intel, should resign due to being 'highly conflicted'. Earlier in the week, US Senator Tom Cotton, Republican of Arkansas, sent a letter to the chair of Intel's board contending that Tan's ties to Chinese companies could pose a national security threat. - SOUTH CHINA MORNING POST
Sinar Daily
4 hours ago
- Sinar Daily
Dangerous dreams: Inside internet's 'sleepmaxxing' craze
WASHINGTON - From mouth taping to rope-assisted neck swinging, a viral social media trend is promoting extreme bedtime routines that claim to deliver perfect sleep -- despite scant medical evidence and potential safety risks. Influencers on platforms including TikTok and X are fueling a growing wellness obsession popularly known as "sleepmaxxing," a catch-all term for activities and products aimed at optimising sleep quality. The explosive rise of the trend -- generating tens of millions of posts -- underscores social media's power to legitimise unproven health practices, particularly as tech platforms scale back content moderation. One so-called insomnia cure involves people hanging by their necks with ropes or belts and swinging their bodies in the air. "Those who try it claim their sleep problems have significantly improved," said one clip on X that racked up more than 11 million views. Experts have raised alarm about the trick, following a Chinese state broadcaster's report that attributed at least one fatality in China last year to a similar "neck hanging" routine. Such sleepmaxxing techniques are "ridiculous, potentially harmful, and evidence-free," Timothy Caulfield, a misinformation expert from the University of Alberta in Canada, told AFP. "It is a good example of how social media can normalise the absurd." Another popular practice is taping of the mouth for sleep, promoted as a way to encourage nasal breathing. Influencers claim it offers broad benefits, from better sleep and improved oral health to reduced snoring. But a report from George Washington University found that most of these claims were not supported by medical research. Experts have also warned the practice could be dangerous, particularly for those suffering from sleep apnea, a condition that disrupts breathing during sleep. Other unfounded tricks touted by sleepmaxxing influencers include wearing blue- or red-tinted glasses, using weighted blankets, and eating two kiwis just before bed. - 'Damaging' - "My concern with the 'sleepmaxxing' trend -- particularly as it's presented on platforms like TikTok -- is that much of the advice being shared can be actively unhelpful, even damaging, for people struggling with real sleep issues," Kathryn Pinkham, a Britain-based insomnia specialist, told AFP. "While some of these tips might be harmless for people who generally sleep well, they can increase pressure and anxiety for those dealing with chronic insomnia or other persistent sleep problems." While sound and sufficient sleep is considered a cornerstone of good health, experts warn that the trend may be contributing to orthosomnia, an obsessive preoccupation with achieving perfect sleep. "The pressure to get perfect sleep is embedded in the sleepmaxxing culture," said Eric Zhou of Harvard Medical School. "While prioritising restful sleep is commendable, setting perfection as your goal is problematic. Even good sleepers vary from night to night." Pinkham added that poor sleep was often fuelled by the "anxiety to fix it," a fact largely unacknowledged by sleepmaxxing influencers. "The more we try to control sleep with hacks or rigid routines, the more vigilant and stressed we become -- paradoxically making sleep harder," Pinkham said. - Beauty over health - Many sleepmaxxing posts focus on enhancing physical appearance rather than improving health, reflecting an overlap with "looksmaxxing" -- another online trend that encourages unproven and sometimes dangerous techniques to boost sexual appeal. Some sleepmaxxing influencers have sought to profit from the trend's growing popularity, promoting products such as mouth tapes, sleep-enhancing drink powders, and "sleepmax gummies" containing melatonin. That may be in violation of legal norms in some countries like Britain, where melatonin is available only as a prescription drug. The American Academy of Sleep Medicine has recommended against using melatonin to treat insomnia in adults, citing inconsistent medical evidence regarding its effectiveness. Some medical experts also caution about the impact of the placebo effect on insomnia patients using sleep medication -- when people report real improvement after taking a fake or nonexistent treatment because of their beliefs. "Many of these tips come from non-experts and aren't grounded in clinical evidence," said Pinkham. "For people with genuine sleep issues, this kind of advice often adds pressure rather than relief." - Caleigh Keating and Anuj Chopra with Rachel Blundy / AFP
The Sun
5 hours ago
- The Sun
Moscow warns of 'titanic efforts' to disrupt Putin-Trump meeting
MOSCOW: Certain countries will make 'titanic efforts' to disrupt the meeting U.S. President Donald Trump announced on Friday with Russian President Vladimir Putin for August 15, Russia's investment envoy Kirill Dmitriev said on Saturday. Trump had said earlier that Russia and Ukraine were close to a ceasefire deal that could resolve the three-and-a-half-year conflict. The contents of the deal have yet to be announced, but it could require Ukraine to surrender significant territory - an outcome many European nations oppose. Dmitriev accused unnamed countries of seeking to prolong the war. 'Undoubtedly, a number of countries interested in continuing the conflict will make titanic efforts to disrupt the planned meeting between President Putin and President Trump,' he said in a post in his Telegram account, specifying that by efforts he meant 'provocations and disinformation'. Dmitriev did not specify which countries he was referring to or what kind of 'provocations' they might undertake. The Kremlin earlier confirmed the summit. The two leaders will 'focus on discussing options for achieving a long-term peaceful resolution to the Ukrainian crisis,' Putin aide Yuri Ushakov said, adding: 'This will evidently be a challenging process, but we will engage in it actively and energetically.' - REUTERS
