Novai raises £500k in seed funding led by SFC Capital to advance its AI eye disease detection technology.
The seed round was led by SFC Capital and will fund the continued development of the company technology.
Novai is a biotechnology startup that commercialises an artificial intelligence platform for early detection of eye diseases. The London based firm develops tools to identify cellular level pathology significantly ahead of conventional diagnostic methods.
Novai has secured £500k in seed funding led by SFC Capital to advance its artificial intelligence technology for detecting eye disease. The fresh capital will enable the firm to further develop its diagnostic platform, which uses standard medical imaging equipment to spot cellular changes up to 18 months prior to standard procedures.
Originating from University College London, the biotechnology startup applies AI to the DARC technique to predict progressive glaucomatous damage. Alongside the investment, the company has appointed Gordon Bethwaite as acting chief executive and expanded its board with three new appointments.
From the founder
"Throughout my career, I’ve worked with gold-standard eyecare companies and products, and have seen first-hand the positive impact that groundbreaking technology can have on patients’ lives. DARC has the potential to become one of those technologies, and I’m excited to be part of this amazing team bringing it to market. Playing a role in the development of new treatments and standards of care for patients suffering with degenerative sight loss is what motivates us to success with DARC"
Gordon Bethwaite
Acting CEO at Novai
Investor perspective
"Novai’s innovative combination of technology and biomedicine represents the future of preventative care, with the potential to make a massive difference for anyone who might suffer from degenerative diseases in the future. The founders have assembled an extraordinary team of experts and advisors, and we are pleased to be supporting them as they continue to prove the capabilities of the technology and grow the company. We’re excited to see what they achieve next."
Rohallah Ghasemi
Investment Executive, SFC Capital
Use of funds
- 01Continue product development
- 02Fund research and development
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