The new capital will help to drive geographical expansion, expand product portfolio and support regulatory clearances
Singapore-based healthcare start-up Qritive has raised $7.5 million in a funding round led by MassMutual Ventures, supported by SEEDS Capital and Exfinity Venture Partners.
The company plans to use the 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 has a presence in Singapore, USA, and India. Using artificial intelligence(AI), Qritive aims to provide fast and accurate interpretations of pathology whole slide image scans within seconds, reducing time to treatment, and increasing accuracy for cancer care.
Qritive reportedly brings clinical-grade AI-powered solutions to enable histopathology diagnosis of cancer at scale. These clinical-decision support tools help improve efficiency and quality in diagnosis, which will ultimately result in better patient outcomes, said the company.
The solutions are CE certified and also approved by Singapore Health Sciences Authority (HSA) for clinical use. Qritive’s technology helps accelerate cancer diagnosis across multiple cancer types including colon, prostate, lymph node, and breast and includes a robust set of tools for immunohistochemistry, it added.
"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 by being accurate, removing the existing bottlenecks, and supporting pathologists at every stage," said ChinnuSenthilkumar, managing partner, Exfinity Venture Partners.
“Qritive's platform digitizes and streamlines the pathology workflow from end-to-end, supporting clinicians with a wide range of tools–including image analysis, case management, and reporting modules,” added Ryan Collins, managing director of MassMutual Ventures.