Eyenuk Receives US$6.2 Million in Financing Round

Eyenuk announced that it had finished a US$6.2 million financing round led by AXA IM through AXA IM Alts.

FREMONT, CA: Eyenuk, Inc., an international artificial intelligence (AI) medical technology and services organization and the pioneer in real-world AI Eye Screening applications, recently announced that it had completed a US$6.2 million financing round led by AXA IM through AXA IM Alts, a worldwide leader in alternative investments with c. 162 billion in assets under management. Existing Eyenuk investors were also involved in the round.

Eyenuk will use the funds to speed up the commercialization of the EyeArt AI System, which was approved by the FDA in 2020 and is being reimbursed by Medicare and other payors.

“AXA IM Alts investment in Eyenuk is advised by Dr. Zina Affas Besse, Managing Partner at Global Health Investment Advisors (GHIA), a pioneer in impact investing in life science companies. We are very impressed with all that the Eyenuk team has accomplished to date,” said Dr. Affas Besse. “We look forward to supporting the company as it accelerates global commercialization and pipeline development programs.”

“We are excited about Eyenuks business potential as evidenced by Eyenuks impressive business and clinical accomplishments to-date,” said Jonathan Dean, Head of Impact Investing at AXA IM Alts. “We are proud to invest in some of the most innovative technologies that address major public health issues worldwide, while searching to generate attractive social and financial returns. Eyenuks innovative healthcare AI technologies aim to deliver tangible impact around the world alongside attractive financial returns.”

“We are thrilled to welcome new institutional investors to the Eyenukteam,” said Kaushal Solanki, Ph.D., Founder, and CEO of Eyenuk. “We look forward to working with AXA IM Alts and other investors, who share Eyenuks vision of creating globally accessible AI platform technology that can enable drastic reduction of preventable blindness across the world.”

To support its long-term growth and innovation initiatives, Eyenuk aims to close a larger financing round in late 2021.