# Eyenuk

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/eyenuk

- Industry: Medical Devices & Equipment
- Headquarters: Woodland Hills, US
- Website: www.eyenuk.com
- Total disclosed funding: $22M
- Latest round: Series A (Aug 3, 2022)
- Investors on record: 5

## About

Eyenuk, Inc. specializes in AI-powered medical technologies, focusing on the autonomous detection of diabetic retinopathy through its innovative EyeArt® system, enhancing screening efficiency and accuracy in healthcare settings.Founded in 2010 by Kaushal Solanki, Eyenuk, Inc. is based in Woodland Hills, US, with a focus on leveraging artificial intelligence for medical diagnostics. The company has completed 2 notable funding rounds and is not known to have undergone any significant pivots or changes in business strategy. The latest funding round was a Series A which took place on August 3, 2022, led by AXA IM Alts, raising USD 22.43 mn and bringing the total amount raised to the same figure. Eyenuk's current valuation stands at USD 64.205 mn.Eyenuk, Inc. specializes in artificial intelligence-driven medical technologies, primarily centered around its flagship product, the EyeArt® AI Eye Screening System. This system offers autonomous detection of diabetic retinopathy, a leading cause of vision loss, by analyzing retinal images to identify disease indicators swiftly and accurately. The EyeArt system functions without the need for expert human grading or eye dilation, allowing for comprehensive imaging, grading, and reporting within a single office visit. The technology has been validated extensively, having been tested on over half a million patient visits globally, and it has received multiple regulatory approvals, including US FDA clearance and CE marking as a class IIb medical device in the European Union. Eyenuk primarily targets healthcare providers, including general practitioners, endocrinologists, ophthalmologists, and optometrists, allowing them to offer efficient diabetic retinopathy screenings directly in their clinics. The company's products are marketed across various regions, including the United States, the European Union, and Canada.Eyenuk generates revenue through partnerships and direct sales of its AI Eye Screening technologies, particularly the EyeArt® system, which is a critical component of its business model. The company establishes relationships with healthcare providers who utilize its product in clinical workflows, facilitating improved patient compliance and streamlined screening processes. Revenue transactions typically involve the sale of the EyeArt system, potentially paired with service agreements that may include software updates and support. While specific pricing details for the EyeArt system are not disclosed, the company's transaction structure suggests that healthcare facilities may engage in long-term partnerships with Eyenuk, integrating their AI screening solutions into regular patient care protocols. This model not only enhances patient outcomes but also supports the scalability of Eyenuk's offerings in diverse healthcare environments.In August 2022, Eyenuk secured USD 22.4 mn in Series A funding, with plans to utilize this capital for enhancing the product's international marketing and uptake, as well as further developing its service offerings by adding new features. The company aims to expand its market presence, particularly in regions such as Europe and Canada, where the demand for AI-driven healthcare solutions is on the rise. Eyenuk is committed to introducing new advancements to its EyeArt® system, targeting a release within the next few years.

## Funding rounds

- Series A, Aug 3, 2022, $22M — AXA IM Alts, KOFA Healthcare Investments, Kendall Capital Partners, T&W Medical A/S, A&C Foelsgaard Alternativer ApS

## Investors

- AXA IM Alts — Series A
- KOFA Healthcare Investments (https://capitalatlas.ai/funds/kofa-healthcare-investments) — Series A
- Kendall Capital Partners (https://capitalatlas.ai/funds/kendall-capital-partners) — Series A
- T&W Medical A/S — Series A
- A&C Foelsgaard Alternativer ApS — Series A