Over two billion people live with vision impairment, data from the World Health Organization shows, with at least half of these cases being preventable or treatable.
Targeting this sizeable global market, Alberta’s RetinaLogik this month announced a successful round of pre-seed funding.
The Calgary-based eye care innovator raised $783,000 from HaloHealth, Spring Impact Capital, UCeed, York Angels, and angel investors, according to a report from BetaKit.
RetinaLogik combines artificial intelligence and virtual reality technologies into a software platform that enables visual field tests without bulky, expensive equipment—just a VR headset.
“Using data from exams collected through our platform alongside other data points, our algorithms help clinicians identify patterns of deterioration or improvement, helping to guide treatment decisions and monitor the effectiveness of interventions in conditions such as glaucoma,” the company explains online.
The influx of capital will enable RetinaLogik to scale its team, according to BK, as well as add new vision tests to its platform and obtain a Class 2 certification from Health Canada.
RetinaLogik was co-founded by chief executive Abdullah Sarhan and chief of operations Julia St.Amand, who both hail from the University of Calgary.
After developing an initial prototype in 2019, the pair of Alberta entrepreneurs formally launched their startup in 2021.
In addition to securing funding, RetinaLogik recently graduated from Alberta’s Life Sciences Fellowship alongside Stroke.ai and Quebec’s BioMimir.
Hosted by Innovate Calgary at the University of Calgary, the Fellowship is supported by Alberta Innovates; Alberta Ministry of Jobs, Economy and Northern Development; Calgary Economic Development’s Opportunity Calgary Investment Fund; Innovation, Science and Economic Development Canada, and Prairies Economic Development Canada.
“The program is amazing,” Sarhan stated. “I totally encourage people to go on this path.”
Innovate Calgary described the outgoing Fellowship, including RetinaLogik, as “emerging pioneers . . . poised to disrupt and redefine the landscape of digital health and life sciences.”
RetinaLogik was praised for its “ingenious” use of AI and VR, innovating tech to address medical precision issues, affordability concerns for clinics, and comfort levels for patients.
RetinaLogik has raised $1.7M to date.
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