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Eyenuk Announces $6.2 Million Financing to Accelerate Adoption of FDA-cleared AI Technology for Detection of Diabetic Retinopathy

  • Wednesday, July 21, 2021, 2:11 pm
  • ACROFAN=Newswire
Eyenuk, Inc., a global artificial intelligence (AI) medical technology and services company and the leader in real-world applications for AI Eye Screening, today announced that it has completed a financing round of US$6.2 million led by AXA IM, through AXA IM Alts, a global leader in alternative investments with c. €162 billion of assets under management1. Eyenuk’s existing investors also participated in the round.

Eyenuk will use the proceeds to immediately accelerate commercialization of the EyeArt® AI System, which received FDA clearance in 2020 and is being reimbursed by Medicare and other payors.

AXA IM Alts’ investment in Eyenuk is advised by Dr. Zina Affas Besse, Managing Partner at Global Health Investment Advisors (GHIA), a pioneer in impact investing in life science companies. “We are very impressed with all that the Eyenuk team has accomplished to date,” said Dr. Affas Besse. “We look forward to supporting the company as it accelerates global commercialization and pipeline development programs.”

“We are excited about Eyenuk’s business potential as evidenced by Eyenuk’s impressive business and clinical accomplishments to-date,” said Jonathan Dean, Head of Impact Investing at AXA IM Alts. “We are proud to invest in some of the most innovative technologies that address major public health issues worldwide, while searching to generate attractive social and financial returns. Eyenuk’s innovative healthcare AI technologies aim to deliver tangible impact around the world alongside attractive financial returns.”

“We are thrilled to welcome new institutional investors to the Eyenuk team,” said Kaushal Solanki, Ph.D., Founder and CEO of Eyenuk. “We look forward to working with AXA IM Alts and other investors, who share Eyenuk’s vision of creating globally-accessible AI platform technology that can enable drastic reduction of preventable blindness across the world.”

Eyenuk plans to close a larger round of financing in late 2021 to support its long-term growth and innovation strategies.