# Novai

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

- Industry: Biotechnology
- Headquarters: London, UK
- Website: www.novai.co.uk
- Total disclosed funding: $1.1M
- Latest round: Seed (Jul 23, 2020)
- Investors on record: 1

## About

Novai is a Medtech company based in the UK, focused on innovative solutions for the early detection of eye and brain diseases, utilizing their proprietary DARC technology to combat blindness and improve patient outcomes.Novai, founded in 2004, operates from its headquarters in London, UK. The company specializes in advanced medical technologies aimed at detecting diseases affecting sight and neurological health. Its founder, Aman Khan, has a history of engaging in ventures focused on healthcare innovation. In July 2020, Novai successfully raised GBP 0.5 million in Seed funding, led by SFC Capital, bringing the total amount raised to GBP 0.5 million through their funding endeavors.Novai is a UK Medtech company focused on combating blindness and disability through advanced early detection and intervention solutions for eye and brain diseases, primarily utilizing its proprietary DARC (Detecting Apoptotic Retinal Cells) technology. DARC technology employs a specialized AI algorithm to identify early signs of disease by detecting apoptotic retinal cells, thereby empowering patients before the onset of severe conditions. The company’s offerings target healthcare professionals in hospitals and clinics, aiming to enhance patient outcomes by shortening the time to appropriate treatment selection and driving the success of ophthalmic drugs. Novai’s primary clients include healthcare providers and pharmaceutical companies, with geographical markets extending beyond the UK to regions such as Europe and North America, where the demand for innovative medical technologies is growing.Novai generates revenue through partnerships with healthcare providers and pharmaceutical companies, facilitating the integration of its DARC technology into clinical practice. The commercial model is structured around B2B transactions, where healthcare institutions subscribe to Novai's services to access its diagnostic capabilities. Revenue is derived from service fees associated with the deployment of the DARC technology in clinical settings, as well as potential performance-based agreements with pharmaceutical companies looking to leverage this technology to enhance their drug development processes. Specific pricing plans for their services are not publicly disclosed, but the structure likely includes tiered pricing based on the volume of usage or the scale of implementation within healthcare facilities.Following the GBP 0.5 million Seed funding raised in July 2020, Novai plans to invest in the development of new products that enhance their DARC technology and expand its applications. The company is also targeting expansion into European and North American markets, aiming for a broader geographic reach by 2025. The recent funding will support these initiatives, allowing Novai to accelerate its product development and market entry strategies.

## Funding rounds

- Seed, Jul 23, 2020, $0.6M — SFC Capital
- Seed, Apr 4, 2020, $0.5M — SFC Capital

## Investors

- SFC Capital (https://capitalatlas.ai/funds/sfc-capital) — Seed