Tilak Healthcare Raises €10 Million to Continue Growing Its Ophthalmological Telemedicine Offering

Tilak Healthcare has raised €10 million in a funding to accelerate the roll-out of OdySight in France and abroad, and to develop new solutions for other medical conditions. OdySight is the first remote monitoring system for ophthalmic conditions combined with a gaming interface designed to encourage consistent patient use. It is financed by the French social security system under the government’s ‘Article 51’ scheme for experimental technologies.

The funding round was led by Elaia and Cap Horn. They were joined by long-standing investors iBionext and SWEN Capital Partners, along with Théa, Adelie and several renowned ophthalmologists and business angels including Yann Fleureau (co-founder of Cardiologs). This new funding round brings Tilak Healthcare’s total funding to €22 million since it was founded within the iBionext ecosystem in 2016.

Tilak Healthcare and Théa’s extended collaboration will deploy OdySight with the goal to develop new opportunities for healthcare, for both patients and healthcare professionals.

Tilak Healthcare developed OdySight (CE marked as a Class I medical device) as the first solution to combine a medical device with a mobile video game intended to monitor age-related vision impairments remotely, according to a company news release. In Europe, since OdySight was launched, it has improved the care of 12,000 patients suffering from retinal diseases such as age-related macular degeneration (AMD) and diabetic retinopathy (DR), allowing ophthalmologists to monitor patients’ visual acuity in real time. Tilak’s investment in telemedicine, which the French government covers financially, has created a sustainable business model that puts Tilak on the path to achieve profitability by 2025, according to Tilak. 

Participants

Investee: Tilak Healthcare
Investors: Elaia Partners, Cap Horn, iBionext, SWEN Capital Partners, Groupe Matmut, Laboratoires Théa, Adelie, Business Angels
Fundraising Advisor / Investment Bank: Clipperton – Antoine Ganancia, Grégoire Bonnet, Ismail Roqaichaoui
Financial Due Diligence: 2C Finance – Benjamin Bitton, Claire Jacinto, Corentin Perez
Legal Advisors - Investee: Bird & Bird – Emmanuelle Porte, Pascaline Sagot
Legal Advisors - Investors: Reed Smith – Guilain Hippolyte, Marco Hazan; Jones Day -Jean Gabriel Griboul