16 April 2024 – The Cambridge, UK-based health IT startup Qureight has raised $8.5 million (£6.8 million) to establish digital infrastructure for complicated medical data.
The company was established because of the scarcity of effective treatments for complicated lung and cardiac conditions. Qureight claims that part of the issue is that it takes a lot of time and money for academics to manually extract pertinent information from massive amounts of data.
Hargreave Hale AIM VCT led the investment, which Playfair Capital, Meltwind, Ascension Life Fund, XTX Ventures, and Cambridge Angels joined.
Conclusion
According to Dr. Malcom King, chief investment officer at Guinness Ventures, “One of the hottest opportunities in VC right now is using AI to accelerate drug discovery.” “We have been impressed by Qureight’s ability to assist its clients in expediting the discovery of novel treatments for complex heart and lung diseases.” In February 2022, Qureight successfully raised £1.5 million in a financing round.
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