Reyedar, a deeptech startup and LIFE Cooperative member developing a proprietary medical technology platform for early detection of age-related degenerative diseases, announced today that it secured a € 3 million investment to further advance its ground-breaking solution. Eye tracking technology combined with deep learning provides a unique window to the brain and to people’s health situations in which many age-related diseases can be detected. The funding round is led by Cottonwood Technology Fund, a leading venture capital firm that invests in early-stage technology companies. The round was joined by NOM, Pupil Labs, Uneti Ventures, and existing investor Blue Sparrows MedTech Fund.
As the aging population grows rapidly, the number of people with degenerative diseases such as Glaucoma, Parkinson’s, and Multiple Sclerosis increases. Screening methods for these diseases are often invasive, unreliable, and time-consuming, leading to pressure on the healthcare system. Reyedar’s technology solves this problem by detecting early symptoms within minutes in a non-invasive way. Combining deep learning with eye tracking sensors on a user-friendly device, the company improves treatment outcomes and decreases healthcare costs.
Reyedar, previously known as Reperio Medtech, is a spin-off company of the Ophthalmology Department of the University Medical Center Groningen in the Netherlands.
"This investment is a huge opportunity to accelerate the development and commercialization of our technology. Everyone in our team is really thankful and thrilled," said Dr. Alessandro Grillini, Founder & CEO of Reyedar. "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."
"It is very exciting to lead this investment in Reyedar and support the development of this ground-breaking technology," said Patrick Claessen, Partner of Cottonwood Technology Fund. "Reyedar has an experienced team and developed an impressive technology platform that translates eye movement to actionable medical insights. The company has the potential to make a huge positive impact on human lives by healthier aging for millions of people."
"We are delighted to participate in this funding round for Reyedar," said Annemieke Wouterse, Senior Investment Manager at NOM. "The company's innovative technology offers early detection of multiple degenerative diseases using the eyes as a window into one’s health. This technology significantly reduces waiting lists in the health sector, and we look forward to working with the team to bring their technology to market."
Source article: Reyedar
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