India’s Qure.AI Targets Profitability Next Year, IPO in Two Years

Story ByNikita Saha

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India’s Qure.AI Targets Profitability Next Year, IPO in Two Years

Founded in 2016, the Mumbai-based company aims to turn profitable in the next financial year.

Healthcare AI startup Qure.ai is eyeing a potential initial public offering (IPO) within two years, its CEO Prashant Warier confirmed.

Founded in 2016, the Mumbai-based company aims to turn profitable in the next financial year.

Qure.ai develops artificial intelligence-powered diagnostic tools for early detection of conditions such as tuberculosis, lung cancer, and stroke risks. It counts Fractal Analytics, Peak XV Partners, and Novo Holdings among its investors, and has raised $125 million to date.

"We look to break even and be profitable next financial year. As we sort of get to that break-even… we can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," Warier told Reuters.

Qure.ai’s global client list includes AstraZeneca, Medtronic, and Johnson & Johnson MedTech India. The company currently serves around 15 million patients annually and derives about 25% of its revenue from the United States, its largest market.

"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 added.

While it plans deeper penetration into the US market through additional partnerships, the company is also focusing on low-and middle-income countries in Latin America and Africa. India remains a comparatively minor contributor, accounting for less than 5% of its overall revenue.

Days back, Qure.ai partnered with Johnson & Johnson MedTech to support the early detection of lung cancer in India.

As part of a broader strategic collaboration titled Project BreatheEZ, the initiative focuses on establishing AI-led Incidental Pulmonary Nodule (IPN) Detection clinics across key hospitals in the country.

These AI-enabled screening clinics are designed to function as integrated hubs for early detection, triage, and follow-up care in lung cancer, which remains a growing public health burden in India. The first of these clinics has been launched at Thangam Cancer Centre in Namakkal, Tamil Nadu.