Qritive, a healthtech platform that improves digital pathology for cancer diagnosis through AI-powered image enhancement, has successfully nabbed $7.5 Million in its latest funding round. Qritive, which operates in the US, Singapore and India saw itself adding MassMutual Ventures along with SEEDS Capital and Exfinity Venture Partners to its captable.
According to the startup, it will deploy the proceeds from the funding round towards driving geographical expansion and expanding its product portfolio. Funds will also be utilized towards supporting regulatory clearances.
Qritive expands on deep learning technology to provide automated interpretation of pathology tests for time and resource-strapped medical imaging professionals-enabling faster diagnosis and speed to treatment. Qritive is helping make cancer diagnosis fast, accurate, and affordable.
Talking about the thesis behind his venture, Aneesh Sathe, CEO of Qritive, says “Complexity of diagnostics has increased considerably and having tools that increase accuracy and throughput really fast has become instrumental for clinicians worldwide.”
Several reports have highlighted the uneven distribution of pathologists across the globe. And once again, the difference between the developed, developing and under-developed regions is starkingly visible. 70% of the pathologists are concentrated in just 10 countries, leaving 47% of the world population without basic access to diagnostics. In this context, Qritive brings clinical-grade AI-powered solutions to enable histopathology diagnosis of cancer at scale.
“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,” said Chinnu Senthilkumar, 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. With an international network of pathologists, Qritive is uniquely positioned to accelerate the adoption of digital pathology across the globe. We look forward to supporting Qritive’s growth and the meaningful work that it is doing to improve patient outcomes,” said Ryan Collins, Managing Director, MassMutual Ventures.
Its AI technology helps the six-year-old Qritive to provide fast and accurate interpretations of pathology tests, enhanced imaging accuracy, and reduced time for treatment. In fact, the startup’s AI-based easy-to-use solutions ensure a greater degree of cancer care by accelerating the diagnosis of many types of cancer, such as colon and prostate. Additionally, its vendor-agnostic solutions allow the simplified integration with third-party products. Pantheon, its digital pathology platform, integrates tools for case management, reporting, slide viewing and analysis, telepathology, synoptic reporting, and LIS integration.
Founded by Dr. Aneesh Sathe and Dr. Kaveh Taghipour, the startup currently has operations in India (in Pune), the US (in San Diego), and headquartered in Singapore. The fresh influx of capital will enable Qritive to continue the good work and cement its position in a market that is slated to grow to $8 billion by the end of the decade.
