Ophthalmic-focused artificial intelligence dev Pr3vent said yesterday that it closed an undisclosed Series A round of financing to support its machine-vision based system intended for detecting eye disease in newborns.
The round was led by InFocus Capital Partners, the Palo Alto, Calif.-based company said, and follows a successful seed round last October jointly led by Skyview Ventures and Trousdale Ventures.
“InFocus Fund I is proud to lead the current round of funding for Pr3vent. We value the company’s innovative AI platform and understand the importance of helping it succeed. Their creation is at the forefront of AI technology in ophthalmology, and we believe it will help prevent avoidable vision loss in children,” InFocus Capital Partners managing partner Dr. Ron Weiss said in a prepared statement.
Pr3vent’s flagship AI-powered diagnostic is designed to detect abnormalities in non-invasive images of a baby’s retina, and uses an algorithm to instantly identify pathologies that can trigger examinations and treatment, the company said.
“We are committed to building the future of AI in ophthalmology and changing the way healthcare providers detect, diagnose and treat eye disease in children. InFocus Capital Partners’ Series A financing will help accelerate the processes of developing our revolutionary imaging system for early detection of preventable vision loss in newborns,” Pr3vent co-founder Darius Moshfeghi said in a press release.
“This financing round puts Pr3vent in a strong position to create a profitable AI solution in the ophthalmic space. Machine vision and AI will contribute significantly to the future of the field, and we are thrilled that our AI system will help newborns,” CEO Jochen Kumm said in prepared remarks.
