Qureight, a Cambridge-based health tech company that develops digital infrastructure for complex medical data, has raised $8.5m (£6.8m).
The company was founded in response to the limited treatment options for complex heart and lung diseases. According to Qureight, part of the problem is that researchers have to manually extract important information from large volumes of data, costing significant time and money.
Qureight aims to solve this with its AI-powered platform which, through NHS partnerships, can collate medical data in real time and structure it ready for analysis. The structured data can also be used to create virtual trial patients.
“Our mission to extend the lives of lung and heart disease patients will be bolstered by the invaluable expertise of our new board and new senior team members, and we are looking forward to adding to our strategic biopharma collaborations,” said founder and CEO Dr Muhunthan Thillai.
The investment was led by Hargreave Hale AIM VCT and featured participation from XTX Ventures, Guinness Ventures, Playfair Capital, Meltwind, Ascension Life Fund and Cambridge Angels.
“Use of AI to accelerate drug discovery is one of the hottest opportunities in VC right now,” said Guinness Ventures chief investment officer Dr Malcom King.
“We have been impressed by Qureight’s potential to help its customers accelerate discovery of new treatments for complex lung and heart disease.”
Qureight previously raised £1.5m in a funding round in February 2022.
Read more: Qureight founder: Pitching to investors is energising once you take the plunge
The post AI medical data analysis startup Qureight raises £6.8m appeared first on UKTN.
