NEW crowdfunding round launches to coincide with World Diabetes Day
Occuity has announced its second crowdfunding round through Seedrs.
Following a successful campaign in 2021 where Occuity raised over £2.85m from over 800 investors, becoming the largest MedTech raise ever on the platform, the company has made progress on the development of its technology platform, gained significant commercial traction and developed an exciting new opportunity: the AX1 Axiometer for myopia management.
The target of £1.5 million sought through this funding round will be used by Occuity to create revenues by commercialising the PM1, continuing the development of the AX1 and getting the Occuity Indigo to the point of small clinical trials – all of which are significant value inflexion points for the company. To deliver these advances, the company aims to increase marketing activity to drive sales through its growing distributor base, recruit high-calibre individuals and enhance its development, testing and production infrastructure.
Substantial accomplishments to date:
15 Patent families covering technology (9 Granted, 6 Pending).
£1.5m+ Grants Awarded – Most recently a £1.4m Future Fellows Leadership Grant
Significantly enhanced the team - key recruits in commercial, engineering and compliance.
Awarded Tech Start-Up of the Year 2022 and the Thames Valley Tech Awards.
Occuity’s patented non-contacting technology platform is centred around using the eye as a window to the health of the body. The technology works by safely shining a low-power beam of light into the eye to measure structures and detect disease markers. Enabling, not only a patient's eye health to be checked, but also their well-being - particularly where this relates to chronic life-changing conditions, such as diabetes.
World Diabetes Day
Occuity’s crowdfunding round on Seedrs was launched today, to coincide with World Diabetes Day (14th November), driven by the International Diabetes Federation (IDF) to raise awareness of a condition that affects 537 million people globally. More worrying is that according to the IDF, the prevalence of diabetes has tripled in the last two decades and continues to increase at an alarming rate, with the condition estimated to affect 783 million by 2045.
Occuity is particularly passionate and interested in addressing the growing problem of diabetes and in response, is developing a road map of products that will enable earlier screening and pain-free glucose monitoring. Namely, the Occuity Indigo- a personal use, optical, non-contact glucose meter that will deliver a pain-free and non-invasive solution to diabetes monitoring.
Occuity’s technology platform has also enabled the company to capitalise on a significant new opportunity- the development of a handheld axial length meter to be used for myopia management in children, probably the fastest-growing market in the global Ophthalmic sector today. Myopia, more commonly known as short-sightedness, has been announced to have reached epidemic levels by the World Health Organization and is expected to affect more than half of the world's population by 2050. So far, Occuity has already developed a handheld prototype and successfully demonstrated its performance against existing larger, far more expensive desktop meters.
On the launch of the new Seedrs round, Occuity’s CEO and Confounder Dr Dan Daly commented: As we have grown the company, we have built a large community of people who support our work and care about our mission. The crowdfunding element of this round means that smaller investors, have the opportunity to join us on our journey, and support our work to get our innovative products to market.”
More information on the Seedrs campaign can be found on the link below.