Medtech startup machineMD has developed a device to enhance the diagnosis process of neurological disorders. The Swiss startup has just raised €3.2 million to develop the device with market launch planned for 2023.
Early diagnosis of any medical disorder or problem is crucial for patient outcome. It allows doctors to better plan for their patients and provide more accurate, quantitative and objective assessments – which can make a real difference to lives. Arming the fight against brain disorders, which are notoriously complex to diagnose early on, machineMD has just secured new investment.
The Berne-based startup has raised €3.2 million – oversubscribing their seed round by an impressive 50%. The main investor is the Guido Fluri Foundation.
In collaboration with Inselspital, CSEM and Helbling, machineMD was awarded an Innosuisse project of about €1.27 million to fully develop a prototype device. The startup was further supported by a financial contribution from the Canton of Bern.
Radically improving early diagnosis
Founded in 2019, as a spin-off from the University Hospital of Bern, Inselspital, machineMD is developing a novel diagnostic device that enables complete, standardized and automated neuro-ophthalmic examinations. It combines virtual reality with AI to use biomarkers such as eye and pupil movements to accelerate the diagnosis of brain diseases such as stroke, multiple sclerosis and brain tumours.
It is claimed this will allow doctors and optometrists to perform eight fully automated examinations within 10 minutes and provide quantitative, objective and reproducible measurements.
Now, with this fresh funding, the startup is planning its market launch by the end of 2023.
Dominic Senn, CEO of machineMD: “This seed round showed us the Sitem Startup Club is not only a place where MedTech startups get office space, find a lively community and coaching, but also gave us access to an exclusive and active investor club. For us, as well as for other MedTech startups, such a comprehensive funding offer with a strong financing component is a key success factor that shows how well Bern is positioned in the field of translational medicine.”