Healthcare tech startup Occuity raises over £1m with support from Angel Investment Network
by Startacus Admin
Disease Screening and Diagnosis startup, Occuity has raised more than £1m, supported by Angel Investment Network, the world’s largest online angel investment platform.
Occuity is developing products to screen for, diagnose and monitor major chronic health conditions including diabetes and Alzheimer’s Disease. Reading-based Occuity has developed a non-invasive optical device that works by detecting markers that the body deposits in the eye.
The raise took just five months, despite COVID-19 preventing face to face meetings, and Occuity will now use the funds to support product development, regulatory approval and further R&D. The first product, a non-contact pachymeter, will help opticians diagnose glaucoma. Further products will screen for diabetes, Alzheimer’s Disease and will non-invasively monitor glucose levels for those with diabetes.
Occuity specialises in the research, design and production of non-contacting optical instruments for use in healthcare, diagnostics and monitoring. Occuity’s meters work by shining invisible light into the eye and analysing the return signal. This enables direct measurements of the eye for optometrists and ophthalmologists but also, and perhaps more importantly, other more general health conditions such as diabetes and Alzheimer’s Disease to be monitored.
Occuity already has an advanced prototype of the handheld pachymeter which meets market accuracy and usability requirements. They are now finalising the production version that will undergo clinical trials and CE marking early in 2021. The company expects to be revenue generating in Q2 2021.
The team have extensive experience with PhDs in Bioengineering and Micro Optics, supported by considerable MedTech sector commercial experience, whilst design director, Daniele De Iuliis, held main board report positions at Apple HQ over a 27-year career.
Founder and CEO Dr. Dan Daly explained: “Occuity’s mission is to revolutionise disease detection by making it non-contacting and pain free. There is nothing else like our product on the market and it is the result of many years of R&D from some of the world’s best medical minds. This fundraise enables us to continue to build the team and to develop products. We are initially focusing on optometry and diabetes but believe we can transform how many of the world’s most prevalent, chronic diseases are detected and managed.”
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Published on: 22nd October 2020
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