The Munich-based health tech startup Deepeye Medical has developed an innovative diagnostic solution for the prevention of blindness. To further expand its AI-based software, the startup now has €2.5 million in fresh capital at its disposal. The funding comes from YZR Capital, Bayern Kapital, and ARVE Capital, as well as two smaller research and development grants.
In 2021, Manuel Opitz, a health technology entrepreneur, and Ratko Petrovic, a software developer at several health tech startups, founded Deepeye Medical together with a group of leading ophthalmologists. With its platform, the startup specializes in the treatment of age-related macular degeneration (AMD), which affects the central area of the retina. The algorithm analyzes an image of the retina based on a three-dimensional ocular tomography scan. This provides physicians with a treatment proposal tailored to each patient, thus maximizing the chances of successful treatment.
Since its inception, the AI platform has been deployed by major preclinical partners such as Novartis, Bayer, and Roche. It is also being used by other entrepreneurs and physicians to gain comprehensive new insights from existing therapy data. The clinical product is expected to be launched in 2024. In June of this year, Deepeye Medical already secured secure the title at the national pitch competition Startup Champs.
“Save one million additional people from blindness”
Ratko Petrovic, co-founder of Deepeye Medical, says:
"We are currently developing our product to enable patient-centered, one-click treatment decision support by 2024. Our vision is to save one million additional people from blindness by 2030 by providing ophthalmologists with AI-based, optimally evaluated information to complement their clinical assessment."
The Managing Director of Bayern Kapital Monika Steger comments on the financing as follows:
"The investment in Deepeye Medical is an investment in the future of vision and in the quality of life of patients. Deepeye Medical, with its AI, shows great potential to become an indispensable component of successful retinal treatment. We look forward to working with them and advancing eye health worldwide with this innovation."
