Altris AI Is All Set to Transform the Global Eye Care Market After Raising $1 Million

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Ukraine-founded and currently US-based Altris AI, a startup developing an AI platform to assist eye care professionals,  announced on Wednesday, December 14, that it has raised $1M in a round of funding led by Runa Capital.

Other investors in the round include Artesian, Joint Journey, Brinc Limited, Farmak, Chicago Booth Angels, and the University of Chicago Booth School of Business.

Helping Doctors fight blindness

Reports suggest that more than 1 billion people suffer from preventable blindness conditions like late AMD, glaucoma, etc., primarily due to a lack of diagnosis and proper treatments. The shortage of optometrists is another reason why people suffer from these conditions. 

A World Economic Forum report also mentions that only 331,000 professionals against a required 14 million. Altris AI thinks that AI is one of the most scientific and efficient options to bridge this gap, allowing optometrists to efficiently identify and quantify the signs of any eye disease. 

Altris AI’s SaaS AI-powered platform is based on 5 million OCT scans. The company says that this setup made it possible to detect 100+ pathological signs of glaucoma, choroidal nevus and related eye diseases.

Andrey Kuropyatnyk, Founder and CEO of Altris AI, says, “We are convinced that blindness can be prevented since it’s predictable. Our core motivation is to develop the most accurate and powerful tool we are able to. We are happy to have the support of a group of VCs that share our values of applying technology for global healthcare.”

Bridging the gap

Already more than 30 eye clinics have adopted Altris’ AI-enabled medical management platform. Altris AI also features a free educational app with more than 11,000 users, mainly optometrists and ophthalmologists. 

Several prominent global equipment manufacturers and OCT distributors like Optopol, Huvitz and Topcon Healthcare partner with Altris AI. “Healthcare is one of the most attractive applications for AI. With recent advances in machine learning, the vast volumes of data gathered in this industry will power the solutions that will assist medical professionals everyday. Arming doctors and clinicians with reliable and abundant diagnostics is the first step towards conquering a $58 billion global market,” says Michael Fanfant, General Partner at Runa Capital.

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