Eyenuk Raises $26 Million in Series A  

by Kay Aloha Villamor in October 18th, 2022

Eyenuk, a Los Angeles, CA-based artificial intelligence (AI) digital health company that provides AI Eye Screening™ and AI Predictive Biomarkers™, announced it secured $26 million in a Series A financing round, bringing the company's total funding to over $43 million. 

The round was led by AXA IM Alts, with participation from T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and KOFA Healthcare.

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."

Since its FDA approval in 2020, Eyenuk's flagship EyeArt AI system has been used to screen over 60,000 patients in over 200 locations across 18 countries, including 14 U.S. states.

As part of the funding, Rob Binney was appointed Chair of the Eyenuk Board of Directors. Zina Affas Besse and Marie-Louise Little, Directors of Strategy and Business Development at T&W Medical A/S, have also joined the board.

Company: Eyenuk, Inc.

Raised: $26.0M

Round: Series A

Funding Month: October 2022

Lead Investors: AXA IM Alts

Additional Investors: T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and KOFA Healthcare

Company Website: https://www.eyenuk.com/

Software Category: AI Digital Health

About the Company: Eyenuk is an artificial intelligence (AI) digital health company providing AI Eye Screening for autonomous disease detection and AI Predictive Biomarkers™ for risk assessment and disease surveillance. Through its adaptable digital health platform that enables automated AI diagnosis and care coordination, Eyenuk is leading the way in leveraging the power of AI to eliminate preventable blindness globally. Eyenuk's flagship EyeArt AI system has had the most global adoption of any autonomous AI solution for ophthalmology. EyeArt system is reimbursed by Medicare in the US. It has regulatory approvals globally, including CE Marking, a Health Canada license, and approvals in multiple markets in Latin America and the Middle East. Eyenuk is on a mission to screen every eye 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. 

Source: https://www.eyenuk.com/en/articles/news/eyenuk-series-a-funding/



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