AI-Based Retinal Diagnostic Startup Leben Care Bags Funds from IP Ventures
Singapore-based Leben Care has raised angel funding from IP Ventures. The funds have been bagged to fight avoidable blindness. Leben Care provides Artificial Intelligence (AI) based diagnostic and screening solutions, primarily known for automated, fast and affordable retinal screening. As per the officials report, the firm will utilize raised funds to strengthen its product, sales and marketing teams.
Speaking on the development, Mitesh Shah, Co-founder of IP Ventures said, “In our country and even worldwide, there is a huge supply deficit when it comes to screening and diagnostic ophthalmology services. Leben Care is using AI and scalable technology to address this problem. Leben Care has a competent team and some great strategic partnerships. We are very excited to partner with them.”
Leben Care’s first flagship AI Platform Netra.AI uses cutting edge algorithms with a 4 step Deep Convolutional Neural Network (DCNN). Netra.AI enables automated and point of care Retinal Image Analysis by reducing incidence of blindness by timely identification of patients at risk and offering insights to medical practitioners thus enabling improved diagnostic outcome.
“We see tremendous value in being able to access the industry experts in IP Ventures team in this phase of building our company. Even the conversations during the entire due diligence process have helped us tremendously in shaping our approach. We are on a mission to fight avoidable blindness using AI and hope to make this technology available to millions who struggle to get access to basic screening. Our platform Netra.ai is intended to be the go to place for all Ophthalmology related AI solutions.”
Leben Care enables automated analysis of retina image using AI algorithms that can be used by technicians, nurses, optometrists to conduct basic screening with minimal specialist intervention, delivering real-time reports. The company will also cater to areas such as Glaucoma and age-related macular edema.
The company is mentored by experts at Sankara Eye Foundation who have been closely involved in the product development cycle. It has already made a market entry in India, Japan, China, Singapore, Africa and Australia through partnerships with distributors & ophthalmology centers across these countries. The company also counts St.Johns Medical College, Giridhar Eye Insititute, Mach7, Telomeres, Cosmotec and Tonghua Eye Hospital as some of its partners.
With over 700 million people worldwide at the risk of retinal damage, 200 thousand ophthalmologists and only 35 thousand retina experts, there is a significant supply gap that LebenCare intends to fill with its scalable technology.