Latest news with #QureAI
Entrepreneur
4 days ago
- Business
- Entrepreneur
We see Agentic AI as a Once-in-a-Lifetime Opportunity: Srikanth Velamakanni
With a team of more than 5000 professionals worldwide, Fractal has also built cutting-edge AI platforms such as which applies AI to assist people in medical diagnosis and Kaleido, India's first text to image diffusion model You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Tech 25: Srikanth Velamakanni, Co-founder, Group Chief Executive and Executive Vice Chairman of Fractal Fractal Analytics was founded in 2000 with a vision to empower organisations through data-driven decision-making. At a time when analytics was still nascent, Fractal believed in the transformative potential of data and AI to solve complex business challenges. Over the years, Fractal has evolved into a global AI powerhouse, serving over 100 Fortune 500 companies across sectors. Fractal first started looking at AI in 2010, when AI research had started seeing some results with speech analytics. The company started Fractal Sciences, an R&D division in 2011, to work on AI products spending about 13 per cent of annual revenue on R&D. As technology progressed, Fractal incubated AI companies within its fold, starting with in 2015 under a newer entity, Fractal Alpha, and focused on building AI products for industry-specific use cases. Fractal Alpha includes companies that are incubated by Fractal, like Crux Intelligence, and With a team of more than 5000 professionals worldwide, Fractal has also built cutting-edge AI platforms such as which applies AI to assist people in medical diagnosis and Kaleido (India's first text to image diffusion model). "India stands at a pivotal moment, ready to lead the next wave of AI innovation. But to truly harness this potential, businesses must double their investment in technology. Today, Indian companies spend just 2-3 per cent of their revenue on tech. This needs to increase significantly to fully capitalize on AI's promise. At Fractal, we are committed to driving this transformation by building high-quality AI products that address India's unique needs," says Srikanth Velamakanni, Co-founder, Group Chief Executive and Executive Vice Chairman of Fractal. Recently, Fractal AI's Project Ramanujan introduced a groundbreaking reasoning system to enhance the capabilities of large language models (LLMs) by integrating deep mathematical reasoning, enabling it to tackle complex tasks such as Olympiad-level mathematics and strategic games like chess. Looking ahead, Velamakanni says Fractal plans to introduce Cogentiq, an agentic AI platform for B2B applications, and Ramanujan, an advanced AI model for reasoning and coding. Additionally, the company is developing Project Pioneer, a multi-agent AI system designed for real-world applications like software development. Today, Fractal is making a bold bet on agentic AI. "Today, our revenues come from AI systems that power enterprise decisions, and many of these systems are now evolving to become agentic. We see this as a once-in-a-lifetime opportunity to reimagine every business process with AI, from marketing and customer service to trade finance and healthcare," says Velamakanni. Asked what is one of the biggest challenges businesses face today, Velamakanni says it is building sustained trust in a rapidly evolving, tech-driven landscape. As AI and data become central to decision-making, clients and consumers alike are more cautious about how their data is used, how transparent the models are, and whether the solutions are genuinely adding long-term value or simply riding a hype wave. "Overcoming this requires more than just technical excellence. It calls for a culture of responsibility, deep domain empathy and an unwavering commitment to outcomes, not just outputs," he says. Company facts:
CNA
20-05-2025
- Business
- CNA
Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters. The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said. "We look to break even and be profitable next financial year. As we sort of get to that can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week. He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn. provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca, and Medtronic and Johnson and Johnson MedTech in India. The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates. AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts. "We're growing at a rate of 60 per cent-70 per cent every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually. QureAI derives about 25 per cent of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said. The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5 per cent of revenue.
Reuters
20-05-2025
- Business
- Reuters
Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
May 20 (Reuters) - an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters. The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's ( opens new tab Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said. "We look to break even and be profitable next financial year. As we sort of get to that can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week. He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn. provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca (AZN.L), opens new tab, and Medtronic and Johnson and Johnson MedTech in India. The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates. AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts. "We're growing at a rate of 60%-70% every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually. QureAI derives about 25% of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said. The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5% of revenue.
Yahoo
20-05-2025
- Business
- Yahoo
Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
By Rishika Sadam (Reuters) - an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters. The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said. "We look to break even and be profitable next financial year. As we sort of get to that can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week. He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn. provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca, and Medtronic and Johnson and Johnson MedTech in India. The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates. AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts. "We're growing at a rate of 60%-70% every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually. QureAI derives about 25% of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said. The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5% of revenue.
