Ghent-based Azalea Vision raises €9M to advance eye care with real-time adaptive smart lenses

Ghent-based Azalea Vision, a health tech company, announced the first closing of its €15M Series A funding round.

The company has raised €9M to conduct its First-in-Human (FIH) pilot clinical trial, a step in proving the safety and effectiveness of its eye care technology.

The company aims to get approval from the U.S. Food and Drug Administration (FDA) for an Investigational Device Exemption (IDE), continue the clinical trials, and move forward with commercialisation.

Appointed Robert J. Dempsey as board member

Additionally, industry veteran Robert J. Dempsey has been appointed as the Chairman of the Board to guide strategic growth in Europe and the U.S.

Mr. Dempsey brings over three decades of experience in the eyecare industry, having served in leadership roles including CEO, Chairman, and Board Advisor.

Notably, he led the build-out of Shire’s ophthalmic business, establishing it as a global leader in the space.

Under his leadership, the company launched Xiidra – culminating in one of only three ophthalmic deals in the past two decades with an upfront value exceeding $1B.

“I believe a future where vision is intelligent, connected, and effortlessly adaptive is among the most exciting frontiers in eyecare medical device innovation today,” says Robert J. Dempsey. “I am honored to serve as Chairman of the Board and contribute to driving this transformational journey.”

Azalea Vision: Developing first medical-grade smart lens platform

Founded in 2021 as a spin-off from imec and Ghent University, Azalea Vision is developing the first medical-grade smart lens platform designed to sense, adapt, and interact in real-time.

The company has been supported by MedTech, HealthTech, and DeepTech investors, including imec.xpand, Elaia Partners, Sensinnovat, and Shigeru, and reinforced by EIC and VLAIO (Belgium) non-dilutive grants.

The company’s platform integrates stretchable electronics, custom-designed ASICs, liquid crystal optics, and NFC communication, all engineered into a lens-embedded system.

This foundation enables Azalea to deliver medical-grade smart lenses that sense, adapt, and connect in real-time, scaling from vision correction to biosensing, diagnostics, and beyond.

“Strong participation from repeat investors in this Series A milestone reaffirms their trust in our medical device and innovation for the future of intelligent ocular health,” says Enrique Vega, CEO of Azalea Vision.

“Additional funding in this round from SPRIM Global Investments and Afrimobility, along with a strategic investor who remains undisclosed, further emphasizes the confidence in our platform. 

The appointment of Robert J. Dempsey, a highly regarded leader in the ophthalmic space, brings deep domain expertise and strong industry relationships to guide our leadership team as we move forward into our next stage of growth,” adds Vega.