What You Should Know:
– Eyenuk, Inc., a global artificial intelligence (AI) digital health company and the leader in real-world applications for AI Eye Screening™ and AI Predictive Biomarkers™, today announced it has secured $26 million in a Series A financing round, bringing the Company’s total funding to over $43 million.
– The capital raise was led by AXA IM Alts and was joined by new and existing investors including T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and KOFA Healthcare.
Accelerating Global Access to AI-Powered Eye-Screening Technology
Eyenuk, Inc. is a global artificial intelligence (AI) digital health company and the leader in real-world AI Eye Screening™ for autonomous disease detection and AI Predictive Biomarkers™ for risk assessment and disease surveillance. Eyenuk is on a mission to screen every eye in the world to ensure timely diagnosis of life- and vision-threatening diseases, including diabetic retinopathy, glaucoma, age-related macular degeneration, stroke risk, cardiovascular risk, and Alzheimer’s disease.
Eyenuk will use the capital to expand its AI product platform with additional disease indications and advanced care coordination and to accelerate the platform’s global commercialization and adoption.
“We are thrilled that AXA IM Alts, T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and our other new and existing investors have joined us in furthering our mission of using AI to screen every eye in the world to help eliminate preventable vision loss and transition the world to predictive and preventative healthcare,” said Eyenuk CEO and Founder Kaushal Solanki, Ph.D. “Our Series A fundraise validates the strong market performance of the EyeArt® system and provides us with critical resources as we expand our platform capabilities this year to include solutions for detecting additional diseases.”
Today’s announcement follows the Sept. 29, 2022 publication of a major peer-reviewed study in Ophthalmology Science, a publication of the American Academy of Ophthalmology. The study found that the EyeArt AI system is far more sensitive in identifying referable diabetic retinopathy than dilated eye exams by ophthalmologists and retina specialists.
Eyenuk is leading the way in harnessing the power of AI to eliminate preventable blindness globally, through its versatile digital health platform that enables automated AI diagnosis and coordination of care. Eyenuk’s flagship EyeArt AI system has been more broadly adopted worldwide than any other autonomous AI technology for ophthalmology. Since its FDA clearance in 2020, the EyeArt system has been used in over 200 locations in 18 countries, including 14 U.S. states, to screen over 60,000 patients and counting. It is the first and only technology to be cleared by the FDA for autonomous detection of both referable and vision-threatening diabetic retinopathy without any eye care specialist involvement.
The EyeArt system is reimbursed by Medicare in the US, and has regulatory approvals globally, including CE Marking, Health Canada license, and approvals in multiple markets in Latin America and the Middle East.