AI-Diagnostics Startup Altris AI Raises $1 Million to Scale AI-Based Eye Care Diagnostics Platform
Altris AI announced it has raised $1 million to scale its AI-enabled eye care diagnostics solution. Altris AI, which is a US-based startup originally from Ukraine, developed a SaaS platform based on 5 million OCT scans that detected and interpreted more than 100 pathologies and pathological signs. These include age-related macular degeneration (AMD), glaucoma, and choroidal nevus. Altris AI's AI-powered medical image management platform is installed in more than 30 clinics. The company also has a free educational mobile app with over 11,000 active users among ophthalmologists and optometrists. The company has partnered with global OCT distributors and equipment manufacturers such as Topcon Healthcare, Optopol, and Huvitz.
Over 1 billion people with preventable blindness conditions, such as glaucoma, late AMD and other because of low access to the proper diagnostics and treatment. However, the world faces a shortage of optometrists: there are just 331,000 available professionals versus the 14 million that are needed, according to estimates by the World Economic Forum.
AI can assist optometrists to be more efficient due to the technology’s ability to identify, localize, and quantify pathologies and pathological signs in diseases of the macula and retina.
“We are convinced that blindness can be prevented since it’s predictable. Our core motivation is to develop the most accurate and powerful tool we are able to. We are happy to have the support of a group of VCs that share our values of applying technology for global healthcare,” said Andrey Kuropyatnyk, Founder and CEO of Altris AI.
The funding round was led by Runa Capital. Joint Journey, Pharmaceutical Company Farmak, Artesian, Brinc Limited, University of Chicago Booth School of Business and Chicago Booth Angels also participated in the round.
“Healthcare is one of the most attractive applications for AI. With recent advances in machine learning, the vast volumes of data gathered in this industry will power the solutions that will assist medical professionals everyday. Arming doctors and clinicians with reliable and abundant diagnostics is the first step towards conquering a $58 billion global market,” said Michael Fanfant, Palo Alto-based General Partner at Runa Capital.