Occuity gets £2.85 million investment to develop medical technology
Berkshire-based Occuity has received investment funding to continue with its development of the Indigo, a non-contact, optical glucose meter. The device could be used by up to 4.7 million people in the UK with diabetes to monitor their blood sugar levels through a scan of the eye.
The medical technology start-up raised £2.85 million on crowdfunding platform Seedrs. The original £1.8million target was reached within 24 hours of launch. The team, comprised of experts in optics, mechanical engineering, and industrial design, are also collaborating with the medical and academic world including partnerships with the Royal Berkshire Hospital and the University of Bristol.
Occuity caught the attention of investors because of the broad potential usage of the company’s patented optical technology for a range of conditions including glaucoma, myopia, diabetes management, pre-diabetes screening and eventually, it is hoped, the early detection of Alzheimer’s disease.
Occuity CEO and Co-founder Dr. Dan Daly commented: “We’re delighted to have become the largest ever MedTech raise on Seedrs with over 850 investors from 37 countries, sharing our vision. Diabetes is a growing, global problem and we believe our technology will enable health services throughout the world to monitor and screen for diabetes, improving the clinical outcomes for the hundreds of millions of people who are unaware they have pre-diabetes or diabetes. The Occuity Indigo will then make regular glucose testing easier, faster and pain-free, improving the daily lives of many millions more people worldwide.”
Founded in 2019, Occuity is a UK-based medical technology company specialising in the research, design, and production of non-contacting optical instruments for healthcare diagnostics and monitoring.