RETINA-AI Health, Inc. raised $5.2M in Series A financing for AI screening of diabetic retinopathy.
The capital was raised from private investors, 80% of whom are physicians. Also included amongst the investors are business titans such as Bill Smith, Founder of Shipt (acquired by Target in 2018).
RETINA-AI Health, Inc. has developed artificial intelligence technology to enable the diabetic retinal exam to be done in the primary care setting. The company’s HUMMINGBIRD DR 100™ is a cloud-based AI detector of diabetic retinopathy which interprets the retinal image and returns a PDF report within a few seconds.
RETINA-AI Health Inc.’s founder and CEO, Dr. Stephen Odaibo, a retina specialist, computer scientist, and full-stack AI engineer says the funds will be used to take the company’s retina-based AI detection technology through the FDA.
Dr. Richard Y. Hwang, MD, PhD, a retina specialist in El Paso, Texas, says, “artificial intelligence has the potential to make a significant impact in diabetic retinopathy screening by improving the efficiency, cost-effectiveness, and the accessibility of screening programs.”
Dr. Odaibo adds that “the confluence of value-based healthcare delivery and artificial intelligence provides a tangible and timely opportunity for positive impact.”