The Scottish video retinal imaging specialist Epipole today announced that it has secured €1.66 million in fresh capital to prepare for its expansion into the United States ophthalmic imaging market. The funding round was led by new investor Greenwood Way Capital with the Scottish Investment Bank, the investment arm of Scottish Enterprise, also participating. Epipole also announced the appointment of Ian Stevens as new Chairman.
Founded in 2011, Epipole set out to eradicate preventable blindness. The innovative healthtech company created a patented technology which enables clinicians to scan the retina using real-time video and then extract high quality images for further examination. Retinal cameras are typically large and costly desktop systems, but Epipole believes it can revolutionise the sector with its portable design and cost-effective pricing.
Dr Craig Robertson, founder and CEO of Epipole, stated: “We’ve worked with ophthalmologists to test and refine features and capabilities, and will use this funding to implement the key changes needed. We will have a particular focus on the US primary care optometry and ophthalmology markets, and plan to have product available by early 2021. I am also pleased to welcome Ian Stevens as chairman. His broad commercial experience and specific expertise in retinal imaging will be valuable to us as we introduce our products to the eyecare market.”
Stevens, who previously spent nine years at leading retinal imaging company Optos, initially as CFO and then as General Manager of its North American business, commented: “There is a tremendous opportunity for handheld and truly portable fundus cameras that are easy to use and combine high quality imaging with attractive pricing. I am delighted to join the company and look forward to working with Craig and his team as we seek to transform ophthalmic imaging with our new technology.”