Artificial intelligence eye screening company Eyenuk secured $26 million in series A funding led by alternative investment firm AXA IM Alts, bringing its total funding to $43 million.
Eyenuk will use the funds to expand its existing AI product platform, including its EyeArt AI system, which was found to be more sensitive in identifying diabetic retinopathy than ophthalmologists or specialists.
EyeArt AI received clearance in 2020, is used in 18 countries and 14 U.S. states, and is reimbursed by Medicare.
Three new board members will join Eyenuk's board along with the funding: Rob Binney, Marie-Louise Little and Zina Affas Besse, PhD.
"In my quarter century of leading medical device and pharma companies, I have seldom seen a company as well positioned to dominate a new market as Eyenuk," Mr. Binney, the board's new chair and a medical device industry veteran, said in an Oct. 17 press release. "The combination of breakthrough technology, exceptional clinical evidence, visionary leadership and the ability to solve one of the biggest problems in global health makes Eyenuk a potential breakout success story."