The Israeli startup NovaSight, which specializes in vision care solutions, based on AI and eye-tracking technology, has raised $8 million in round A.
The round was led by Rimonci Capital in the participation of additional strategic investors from both the pharmaceutical and medical device industries.
Prior to this round, the company raised $8 million. $ 4.3 million from them through the mass investment platform Together in 2018. NovaSight has raised a total of $16 million to date.
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The funds will be used to advance research in a large randomized pivotal study of its lazy eye treatment device to support FDA approval it seeks.
Founded in 2016 by CEO Ran Yam and CTO Dan Oz, NovaSight products based on one core technology that can track a child’s eye movements 90 times per second are also suitable for treating adults.
The company plans to develop future eye care products such as innovative eye-tracking based active glasses for myopia control. According to the company near-sightedness (Myopia) has become a global epidemic in the 21st century, affecting 30 percent of the population, increasing the risk of visual impairments and even blindness in older age.
The company’s first product, EyeSwift, is a diagnostic tool for physicians that also uses active glasses that allow the physician to control them, darken one eye at a time, and shorten vision testing time.
The information gathered from the EyeSwift device is analyzed in the company’s cloud and immediately provides test results that allow diagnosis of various vision problems and even reading abilities, color blindness, attention disorders, etc..
The current treatment for a lazy eye for children involves using a bandage or full coverage of the strong eye for long hours a day, to force the brain to use the lazy eye. This inconvenient treatment can take a long time and is no way for children.
Novasight’s second device, CureSight, is a therapeutic tool for children that allows them to develop stereoscopic vision at home. Combined with 3D glasses, the tablet is able to track a child’s eye movements, and slightly blur the image the strong eye sees, which encourages the brain to process information from the lazy eye.
The system learns and analyzes information to adjust treatment, and allows the attending physician and parents to monitor the progress of the child being treated remotely.
This therapy is performed while the child watches on the tablet content of leading and prominent streaming services, in a fun and easy way which results in the child hoping to persevere with the therapy.