Singapore-based healthtech startup, Qritive has raised $7.5M in a fresh round of funding led by MassMutual Ventures in participation with SEEDS Capital, and Exfinity Venture Partners.
The startup plans to use the raised funds to drive geographical expansion, expand its product portfolio and support regulatory clearances.
Founded in 2017 by Dr. Aneesh Sathe and Dr. Kaveh Taghipour, Qritive uses artificial intelligence to provide interpretations of pathology whole slide image scans within seconds, reducing time to treatment, and increasing accuracy for cancer care.
Speaking about the funding, Aneesh Sathe, CEO of Qritive said, “Complexity of diagnostics has increased considerably, and having tools that increase accuracy and throughput fast has become instrumental for clinicians worldwide.”
“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 the 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,” Chinnu Senthilkumar, Managing Partner at Exfinity Venture Partners added.
Commenting on the investment round, Ryan Collins, Managing Director at MassMutual Ventures said, “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.”
