The Netherlands-based Reyedar, a deeptech startup developing a medical tech platform for the early detection of age-related degenerative diseases, announced on Wednesday, July 5, that it has raised €3M in a fresh round of funding.
Reyedar’s deep learning and eye-tracking technologies together offer a window into the human brain and health problems, allowing for the early detection of many age-related disorders.
The round was led by Cottonwood Technology Fund, a venture capital firm that invests in early-stage technology companies. The round also saw participation from NOM, Pupil Labs, Uneti Ventures, and existing investor Blue Sparrows MedTech Fund.
Medtech startup that provides diagnostic tools
Reyedar mentions that a significant portion of the world’s population suffers from visual impairments and neurodegenerative diseases, including glaucoma, Parkinson’s disease, and multiple sclerosis, which have a negative influence on their quality of life.
Early symptoms must be accurately identified in order to receive the proper therapy, however, this is frequently not possible. In clinical groups like young children or the elderly who are unable to complete complicated, tiring assessments, the current screening techniques are either invasive, time-consuming, or unreliable.
This results in two primary issues: exorbitant healthcare costs for disorders that are incorrectly diagnosed and catastrophic patient deterioration when disorders are not detected in time.
This is where Reyedar looks to make a difference.
The company says, “We are going to change this using artificial intelligence applied to eye movement recordings. The quality of eye movements reflects the underlying state of the nervous system, as well as the integrity of visual functions.”
“We combine high-speed oculography and machine learning to capture this relation and we translate it into actionable, easy-to-understand, medical insights.”
About Reyedar
Founded in 2020 by Alessandro Grillini and Camiel van Vught, Reyedar is a medical technology firm that aims to make it easier to get early diagnoses of life-impairing degenerative diseases.
The company develops medical devices for identifying vision impairments, neurological ailments, and cognitive issues by utilising eye tracking sensors and deep learning.
The functional vision test is called SONDA – the Standardised Oculomotor
Neuro-ophthalmic Disorders Assessment.
SONDA is a special hardware-software system that makes testing quick, accurate, and user-friendly.
Reyedar, formerly Reperio Medtech, is a spin-off company from the University Medical Centre Groningen’s Ophthalmology Division.
How does it work?
Eye movement: Reyedar tracks eye movement in response to visual stimuli using infrared eye-tracking glasses driven by AI. The entire test is automated, non-intrusive, simple to use, and finished in under five minutes.
Data analysis: The company’s algorithm based on signal processing and Deep Neural Networks, examines the gathered eye movement data. This algorithm converts difficult eye-tracking data into clinically relevant information.
Intuitive reports: Reports with screening for visual field sensitivity screening and a qualitative risk indicator for neurovisual diseases are simple to understand. If more research is required, you will be able to tell right away.
Capital utilisation
Dr Alessandro Grillini says, “This investment is a huge opportunity to accelerate the development and commercialisation of our technology.”
“With this funding, we will grow our team, launch our first product in the eye care market, expand our product offering, and ultimately improve the lives of millions of people affected by age-related degenerative diseases,” adds Grillini.
