Qritive, a healthcare AI startup, on Monday announced that they have raised $7.5 million in a funding round led by MassMutual Ventures, supported by SEEDS Capital and Exfinty Venture Partners.
According to a press statement, Qritive will use this new capital to drive geographical expansion, expand its product portfolio and support regulatory clearances.
Founded in 2017 by Dr. Aneesh Sathe and Dr. Kaveh Taghipour, Qritive today has a presence in Singapore, USA, and India. Using artificial intelligence, Qritive solutions provide fast and accurate interpretations of pathology whole slide image scans within seconds, reducing time to treatment, and increasing accuracy for cancer care.
“In an environment where 70 percent of the pathologists are concentrated in just 10 countries, leaving 47 percent of the world population without basic access to diagnostics, the transition to digital pathology is becoming increasingly critical in the agenda of healthcare systems. In this context, Qritive brings clinical-grade AI-powered solutions to enable histopathology diagnosis of cancer at scale,” the company stated on Monday.
These clinical-decision support tools help improve efficiency and quality in diagnosis, which will ultimately result in better patient outcomes, it claimed.
“The prevalence of cancer is rising globally, and by 2030, Asia will account for nearly half of all cancer cases worldwide. Speed and accuracy are of utmost importance, especially in the backdrop of a severe pathologist shortage. The clinical-grade AI-powered technology from Qritive transforms diagnosis to NextGen by being disruptive, accurate, removing the existing bottlenecks, and supporting pathologists at every stage,” Chinnu Senthilkumar, Managing Partner at Exfinity Venture Partners said in a statement on Monday.