Azalea Vision Raises €9 Million to Further Develop Intelligent Connected Vision Platform
Startup biotech company Azalea Vision announced the first closing of its €15 million Series A funding round, raising €9 million. In addition, the company announced that Robert J. Dempsey has been appointed Chairman of the Board to guide strategic growth in the European and US markets.
Azalea is building a scalable solution for complex vision conditions, remote diagnostics, and targeted ocular therapies. Founded in 2021 as a spin-off from imec and Ghent University, the company said it is developing the first medical-grade smart lens platform designed to sense, adapt, and interact in real time.
The Series A funding will support the execution of Azalea's first-in-human (FIH) pilot clinical trial to establish the safety and performance of its medically intelligent ocular technology platform. The goal is to receive Investigational Device Exemption (IDE) approval from the FDA, continue the clinical trials, and further advance commercialization efforts.
"Strong participation from repeat investors in this Series A milestone reaffirms their trust in our medical device and innovation for the future of intelligent ocular health,” Enrique Vega, CEO of Azalea Vision, said in a company news release. “Additional funding in this round from SPRIM Global Investments and Afrimobility, along with a strategic investor who remains undisclosed, further emphasizes the confidence in our platform. The appointment of Robert J. Dempsey, a highly regarded leader in the ophthalmic space, brings deep domain expertise and strong industry relationships to guide our leadership team as we move forward into our next stage of growth.”
“I believe a future where vision is intelligent, connected, and effortlessly adaptive is among the most exciting frontiers in eye care medical device innovation today,” said Mr. Dempsey. “I am honored to serve as Chairman of the Board and contribute to driving this transformational journey.”
Mr. Dempsey brings over three decades of experience in the eye care industry, having served in leadership roles including CEO, Chairman, and Board Advisor.