Calgary-based healthtech startup RetinaLogik has raised $1.1 million in convertible note financing and secured a Class II medical device licence from Health Canada, marking a major milestone for its innovative portable eye test product.
The funding round, classified as an extension of RetinaLogik’s initial $783,000 pre-seed round last summer, was co-led by Spring Impact Capital and the University of Calgary’s UCeed, with additional support from Startup TNT, HaloHealth, and new investors ScaleGood Fund, Local Investing YYC, and Mount Rundle Club.
With this latest investment, RetinaLogik’s total dilutive financing now exceeds $2 million, alongside nearly $1.6 million in non-dilutive capital, including a $270,000 grant from Alberta Innovates.
In an exclusive interview with BetaKit, co-founder and CEO Abdullah Sarhan described the Health Canada certification as a significant step forward, allowing RetinaLogik to expand beyond screening into diagnostics and monitoring. “This approval smooths our path to international growth,” Sarhan said, emphasizing the impact of regulatory approval on the company’s North American expansion efforts.
Founded in 2021 by Sarhan and COO Julia St.Amand, RetinaLogik aims to modernize vision care with its flagship product, which integrates virtual reality (VR) and artificial intelligence (AI) to deliver portable and efficient eye exams.
The device enables eye care professionals to conduct multiple vision tests through a VR headset, reducing the need for bulky equipment and technician intervention. Patients are guided through exams in their preferred language, while specialists can access results remotely.
“Current [eye testing] equipment in clinics [is] not built for efficiency,” Sarhan told BetaKit, explaining how RetinaLogik’s solution reduces maintenance costs and eliminates the need for dedicated testing rooms. UCeed Funds operating partner Nikhil Bedi praised the technology as a “transformative step forward” in eye care, highlighting its ability to conduct multiple exams rapidly without technician involvement.
With the latest funding, RetinaLogik plans to expand its platform by doubling its available eye exams and increasing its team of more than 10 employees. The company is also working to strengthen its presence in both Canada and the United States, having already registered with the U.S. Food and Drug Administration and published additional studies.
RetinaLogik’s device currently offers five types of exams, including visual acuity and colour vision tests, and is poised to introduce more. With regulatory approval and fresh investment, the startup is accelerating its mission to enhance vision care efficiency and accessibility across North America.
Leave a Reply