LOS ANGELES, Oct. 17, 2022  — Eyenuk, Inc. , a global artificial intelligence (AI) digital health company and the leader in real-world applications for AI Eye ScreeningTM and AI Predictive BiomarkersTM, today announced a Series A financing round of USD 26 million, bringing the Company’s total funding to more than USD 43 million. AXA IM Alts led the capital raise, joined by new and existing investors such as T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and KOFA Healthcare.

Eyenuk plans to use the funds to expand its AI product platform with new disease indications and advanced care coordination and 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.

Through its versatile digital health platform that enables automated AI diagnosis and care coordination. Eyenuk’s flagship EyeArt AI system has seen the most global adoption of any autonomous AI technology for ophthalmology. Since its FDA approval in 2020, the EyeArt system has been used to screen over 60,000 patients in over 200 locations across 18 countries, including 14 U.S. states. It is the first and only FDA-approved technology for the autonomous detection of both referable and vision-threatening diabetic retinopathy without the involvement of an eye care specialist.

The EyeArt system is covered by Medicare in the United States and has received regulatory approvals worldwide, including CE Marking, a Health Canada license, and blessings in multiple Latin American and Middle Eastern markets.

AXA IM Alts, a global alternative investment leader with c. Eyenuk received €184 billion in assets under management as part of its impact investing strategy, which aims to generate measurable and intentional social outcomes while delivering long-term competitive financial returns.

“We continue to be impressed with the Eyenuk team’s accomplishments in developing and broadly commercializing a cost-effective solution to one of the world’s most pressing healthcare concerns—the enormous global burden of preventable vision loss that progresses without any symptoms,” said Zina Affas Besse, Ph.D., AXA IM Alts’ Deputy Head of Healthcare Private Equity. “Our collaboration exemplifies our goal of delivering tangible impact through our global investments while generating significant financial returns.”

The USD 26 million Series A capital raise includes converting approximately USD 6.2 million in convertible notes into Series A securities.

We try our  best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by! 

Next Article

Previous articleIndia-based Edtech firm Supernova raises USD 1.1 million in pre-seed funding
Next articleKorean-based pizza startup GOPIZZA raises USD 25 million in Series C funding
Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


Please enter your comment!
Please enter your name here