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Reduced time consumption and patient-friendly platform of RetinAI brings the organization closer to the market of the healthcare AI platform.
FREMONT, CA: Swiss-based startup, RetinAI, a corporation that build software tools to aggregate, manage, and analyze health data, raised a €2 Million ($ 2.2 million approximately) pre-Series A funding round. btov Partners’ Industrial Technologies Fund lead the round of funding along with the participation of Swiss-based Investor network Investiere and a board of other investors hailing from private sectors.
The particular investment tends to support RetinAI’s growth and expand its branches to international platforms. The investment will also contribute to the growth of the team and accelerate certification initiatives. Additionally, brings the organization closer to the market of the healthcare AI platform.
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At present, the health sector is under the pressure of an increasingly aging population, growing much faster than the health sectors. The waiting time increases, as a result, the treatment provided for eye-related diseases increases resulting in the risk of patients losing their eyesight, where timing and early diagnosis are crucial.
RetinAI’s discovery platform makes eye clinics and health organizations implement AI analytics. The software allows the combination of algorithms into clinical and research workflows for Age-Related Macular Degeneration (AMD), Diabetic Retinopathy (DR), and Glaucoma and for monitoring other Neuropathological disorders like Alzheimer's, Parkinson, and Multiple Sclerosis.
The company blends its solutions inside the clinic and pharma server and into medical devices, thereby interconnecting the whole health medium by reducing the time and cost. The last months of the company have been successful by bidding partnership with some of the large pharmaceutical companies and medical device manufacturers and release the company’s first products as mentioned by Omniviewer, Discovery.
“One of the biggest issues in health institutions is the lack of structure in data originating from medical devices or electronic health records. This situation makes it complicated to identify patterns related to an eye condition in a reasonable amount of time. RetinAI bring data organizations and analysis to the next level, digesting and funneling information using algorithms and presenting it to the user in a rich manner. As a result, clinicians can reach conclusions and take actions faster than ever before. We believe that by combining health data and technology we can transform the field and break the technological barriers that separate patients from the precise treatment they deserve,” mentioned RetinAI’s , CEO, Dr. Carlos Ciller.
The company has also bagged many grants between, December 2018 and January 2019 with more than CHF 550K in non-dilutive funding from European (EUROSTARS EU program) and Swiss (SPHN-Swiss Personalized Healthcare Network) institutions. These grants support the development of deep AI technologies and applications.
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