An investment round headed by MassMutual Ventures netted US $7.5 million for Singapore-based healthcare firm Qritive. Exfinity Venture Partners and Seeds Capital, the investment arm of Enterprise Singapore, also took part in the round.
Qritive, which was founded in 2017, employs AI-powered technologies to analyse whole-slide pictures used in pathology in a matter of seconds, speeding up cancer treatment and improving accuracy.
The firm, which has operations in India and the US, will utilise the new capital to grow into new markets, increase the variety of products it offers, and assist attempts to get regulatory approvals.
According to Qritive, only 10 nations are home to 70% of the world’s pathologists, leaving 47% of the population without even the most basic access to diagnostics. The business continued by saying that this makes the switch to digital pathology even more crucial.
“Speed and accuracy are of the utmost importance, especially in the backdrop of a severe pathologist shortage,” said Chinnu Senthilkumar, managing partner at Exfinity Venture Partners. By 2030, Asia will be home to almost half of all cancer cases globally.
Qritive received an unknown amount of funding from Entrepreneur First in 2018.
