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Ukrainian-founded Altris AI picks up fresh funding to develop new eye care solutions

Born in Kyiv and with a presence in Spain and the US, Altris AI is on a mission to fight blindness with new approaches to eye care. The startup has just raised almost €1 million to scale.

According to the WHO, at least 2.2 billion across the world people suffer from vision impairment. Of these, about half of these cases could have been prevented or have yet to be addressed – these conditions include ailments such as glaucoma and late AMD, and manifest due to low access to the proper diagnostics and treatment. It’s a problem compounded by the global shortage of optometrists. The WHO reports that there are just 331,000 available professionals versus the 14 million that is needed.

Ukrainian-born startup Altris AI wants to change these stats by harnessing the power of modern technology. AI can assist optometrists to be more efficient due to the technology’s ability to identify, localize, and quantify pathologies and pathological signs in almost every disease of the macula and retina. Now, the startup has raised almost €1 million to scale its solution.  

The details

  • The startup is now headquartered in the US with R&D in Kyiv and Malaga
  • The round was led by Rune Capital
  • Plan to tap into the $58 billion global ophthalmology market.

Andrey Kuropyatnyk, Founder and CEO of Altris AI: “We are convinced that blindness can be prevented since it’s predictable. Our core motivation is to develop the most accurate and powerful tool we are able to. We are happy to have the support of a group of VCs that share our values of applying technology for global healthcare.”

AI-based SaaS platform 

Founded in 2017, Altris AI developed a SaaS platform based on 5 million OCT scans that detected and interpreted more than 100 pathologies and pathological signs. These include age-related macular degeneration, glaucoma, and choroidal nevus.

The startup provides an AI-powered medical image management platform, which is installed in more than 30 clinics. The company also has a free educational mobile app with over 11,000 active users among ophthalmologists and optometrists. Altris AI already partners with global OCT distributors and equipment manufacturers such as Topcon Healthcare, Optopol, and Huvitz. 

Through this technology, the team is hopeful it can empower eye care professionals to fight blindness, and treat a global problem. 

Michael Fanfant, Palo Alto-based General Partner at Runa Capital: “Healthcare is one of the most attractive applications for AI. With recent advances in machine learning, the vast volumes of data gathered in this industry will power the solutions that will assist medical professionals everyday. Arming doctors and clinicians with reliable and abundant diagnostics is the first step towards conquering a $58 billion global market.”

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Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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