A company using eye-tracking technology combined with deep learning to provide a ‘unique window to the brain’ has secured €3m ($3.2m) to help develop the technology.
Deeptech startup Reyedar aims to create a quick and non-invasive method to test early for degenerative diseases such as glaucoma, Parkinson’s disease, and multiple sclerosis.
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VC firm Cottonwood Technology Fund led the funding round backing the technology, with participation from NOM, Pupil Labs, Uneti Ventures, and existing investor Blue Sparrows MedTech Fund.
Reyedar, previously known as Reperio Medtech, uses artificial intelligence (AI)-powered infrared eye tracking glasses to measure eye movements reacting to visual stimuli. The data collected from the automated screening technique is then analysed by algorithms and converted to clinical information.
The Dutch company, a spin-off from the ophthalmology department of the University Medical Center Groningen, has called the screening test SONDA (Standardized Oculomotor and Neuro-ophthalmic Disorders Assessment). Positive results using the test have been published in Frontiers in Neurology.
“With this funding, we will grow our team, launch our first product in the eye care market, expand our product offering, and ultimately improve the lives of millions of people affected by age-related degenerative diseases,” said Reyedar’s founder and CEO Dr Alessandro Grillini.
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By GlobalData“Reyedar has an experienced team and developed an impressive technology platform that translates eye movement to actionable medical insights. The company has the potential to make a huge positive impact on human lives by healthier aging for millions of people,” said Cottonwood Technology Fund partner Patrick Claessen.
According to a 2021 report by GlobalData, global revenue for AI platforms across healthcare will reach $4.3bn by 2024.
