The Groningen-based deep-tech start-up announced yesterday afternoon that it raised three million euros to develop a medical technology platform further. With this, the company aims to use eye-tracking and deep learning to detect age-related degenerative diseases early.
As the aging population increases, so does the number of people with degenerative diseases such as Glaucoma, Parkinson’s, and Multiple Sclerosis. Early detection of these diseases is important because most develop unnoticed while causing irreversible damage. However, current screening methods for these diseases are often invasive, unreliable, and time-consuming, putting a strain on the healthcare system.
Reyedar solves this problem by detecting early symptoms within minutes in a non-invasive way. This is done by combining deep learning with eye-tracking sensors on a user-friendly device, through which the company aims to make early detection of degenerative diseases accessible while reducing healthcare costs.
Reyedar, formerly Reperio Medtech, is a spin-off company of the Department of Ophthalmology at the University Medical Center Groningen in the Netherlands. The basic principle of the medical technology platform that Reyedar is developing has been extensively researched and tested within the UMCG since 2015.
The company creates medical devices for detecting and diagnosing visual impairments, neurological diseases, and cognitive disorders by using eye-tracking sensors and Deep Learning. This unique hardware-software combination called SONDA (Standardized Oculomotor and Neuro-ophthalmic Disorders Assessment) enables fast, objective, and user-friendly testing. Positive results of the test have been published in Frontiers in Neurology.
‘Improving the lives of millions’
The funding round is led by Cottonwood Technology Fund, a leading venture capital fund that invests in early-stage technology companies. NOM, Pupil Labs, Uneti Ventures, and pre-existing investor Blue Sparrows MedTech Fund also participate in this investment round.
“This investment is a huge opportunity to accelerate our technology development and introduce our first product to the market. Everyone on our team is very grateful and happy,” said Dr. Alessandro Grillini, founder and CEO of Reyedar. “With this funding, we will expand our team, launch our first product in the eye care market, expand the product range, and ultimately improve the lives of millions of people suffering from age-related degenerative diseases.”