Indian health-tech company Qure.ai is charting a course toward a public listing within the next two years, as revealed by CEO Prashant Warier. Founded in 2016 and headquartered in Mumbai, Qure.ai has quickly become a key player in the medical AI landscape, particularly in diagnostic imaging technologies that assist in detecting conditions like stroke, lung disease, and tuberculosis.

The company has reported remarkable financial progress, with revenue climbing to ₹141 crore in FY24—an 83% jump from the previous year. Simultaneously, Qure.ai managed to cut its losses by over a third. A majority of its revenue now comes from international markets, particularly the U.S., which accounts for 25% of total earnings. India, surprisingly, contributes under 5%, indicating the company’s stronger foothold abroad.

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To fuel this expansion, Qure.ai secured $65 million in Series D funding in late 2024, led by Lightspeed and 360 ONE Asset Management, alongside other strategic investors such as Merck Global Health Innovation Fund and Kae Capital. The capital is being used to bolster their U.S. presence, scale AI model development, and explore acquisitions of med-tech firms.

Qure.ai’s growing portfolio of patents, including a recently awarded one for detecting lung abnormalities, highlights its innovative capabilities. As demand for AI-driven medical solutions increases globally, Qure.ai’s planned IPO could mark a major milestone in its journey toward redefining modern healthcare.