Artificial intelligence startup reaches ‘unicorn’ status with $360M investment – Radiology Business

Artificial intelligence startup Fractal has achieved “unicorn” status, scoring a $360 million investment ahead of a forthcoming initial public offering, leaders announced Wednesday.

Headquartered in New York City, the firm bills itself as one of the most prominent players in AI, with a host of business lines serving several industries. Those include Qure.ai, which uses deep learnin…….

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Artificial intelligence startup Fractal has achieved “unicorn” status, scoring a $360 million investment ahead of a forthcoming initial public offering, leaders announced Wednesday.

Headquartered in New York City, the firm bills itself as one of the most prominent players in AI, with a host of business lines serving several industries. Those include Qure.ai, which uses deep learning technology to help radiologists interpret X-rays, CT scans, ultrasounds and MRIs.

Private equity firm TPG is pitching in the funds, with the new financing round valuing Fractal at “well north of $1 billion,” TechCrunch reported.

“The demand for AI is surging across the enterprise. Our AI solutions and products, along with our globally recognized team of experts, empower these organizations to realize and maximize their full potential,” Pranay Agrawal, Fractal’s co-founder and CEO, said Jan. 5. “As we continue to build upon this foundation, the investment from TPG will accelerate our ability to scale and meet this rising demand globally,” he added later.

Source: https://www.radiologybusiness.com/topics/artificial-intelligence/artificial-intelligence-fractal-unicorn-tpg-qureai