EyeBrain, a specialist in creating medical research and diagnostic tools based on eye movement, just closed a $1.3 million round, largely led through crowdfunding. Investors include previous backers, the Fonds Régional de Co-Investissement d’Ile-de-France (FRCI) and the Anaxago crowdfunding platform which brought just over €1 million of the total amount raised. Serge Kinkingnéhun, CEO of EyeBrain, said this fundraising to be “exceptional in terms of the interest that it has generated, particularly from individuals”, and stated that it exceeded the initial target set by the company. The amount raised will be used to further develop diagnostic products for neurological and psychiatric disorders, such as ADHD and schizophrenia, while accelerating sales efforts throughout Europe.
With eye-tracking devices, EyeBrain provides a non-invasive alternative to diagnostic procedures such as blood tests and lumbar punctures. The company says to provide an accurate additional diagnostic by testing specific regions of the brain in under 20 minutes, for less than the cost of imaging via traditional machines sur as MRI or CT. EyeBrain Tracking devices already help uncover syndromes of Parkinson’s disease, multiple sclerosis and dyslexia.
This fundraising round is the company’s third to date. It follows a €1.2 million round in 2009 from CapDecisif and G1JIDF, and a €3.3 million round in 2012 from historical investors as well as Octalfa, Sudinnova and CM-CIC Capital Innovation.