The funds will be used to advance research for the company's lazy eye treatment device and eye care products such as innovative eye tracking based active glasses for myopia control.
Israeli vision care solutions based on AI and eye tracking technology NovaSight announced today that it has raised $8 million in a Series A financing round led by Rimonci Capital. This brings to $16 million the amount raised by the company.
The funds will be used to advance research in a large multi-center randomized pivotal study that will support FDA 510(k) clearance for its lazy eye treatment device and for the development of future eye care products such as innovative eye tracking based active glasses for myopia control.
NovaSight CEO Ran Yam said, "Our focus is on the hundreds of millions of children who suffer from vision disorders and if left undiagnosed and untreated can lead to significant eye health problems in adulthood. During Covid-19 when alternative healthcare diagnosis and treatment methods are required, we're putting emphasis on continuing to develop telehealth solutions. Our products are ideally positioned for remote diagnostics and home treatment."
Published by Globes, Israel business news - en.globes.co.il - on July 13, 2020
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