Startups AI-based retinal diagnostic startup Leben Care gets funded by IP Ventures
Delhi, 23 July 2019 – Singapore-based Leben Care has raised angel funding from IP Ventures to fight avoidable blindness. The company provides artificial-intelligence based diagnostic and screening solutions, primarily known for automated, fast and affordable retinal screening. Leben Care will use the funds to strengthen its product, sales and marketing teams.
Leben Care enables automated analysis of retina image using AI algorithms that can be used by technicians, nurses, optometrists to conduct basic screening with minimal specialist intervention, delivering real-time reports. The company will also cater to areas such as Glaucoma and age-related macular edema.
With over 700 million people worldwide at the risk of retinal damage, 200 thousand ophthalmologists and only 35 thousand retina experts, there is a significant supply gap that LebenCare intends to fill with its scalable technology.
Leben Care is mentored by experts at Sankara Eye Foundation who have been closely involved in the product development cycle. It has already made a market entry in India, Japan, China, Singapore, Africa and Australia through partnerships with distributors & ophthalmology centers across these countries. The company also counts St.Johns Medical College, Giridhar Eye Insititute, Mach7, Telomeres, Cosmotec and Tonghua Eye Hospital as some of its partners.
Leben Care co-founder Nitin Srivastava shared “We are excited to have the mentorship from IP Ventures coupled with their
investment. We see tremendous value in being able to access the industry experts in IP Ventures team in this phase of building our company. Even the conversations during the entire due diligence process have helped us tremendously in shaping our approach. We are on a mission to fight avoidable blindness using AI and hope to make this technology available to millions who struggle to get access to basic screening. Our platform Netra.ai is intended to be the go to place for all Ophthalmology related AI solutions.”
Mitesh Shah, co-founder of IP Ventures said, “In our country and even worldwide, there is a huge supply deficit when it comes to
screening and diagnostic ophthalmology services. Leben Care is using AI and scalable technology to address this problem.”
“Leben Care has a competent team and some great strategic partnerships. We are very excited to partner with
Netra.AI platform provides valuable, automated, clinical insights on retina, blood vessels and lesions, aiding primary care workers in providing supportive information to ophthalmologist, retina specialist and other healthcare professionals using AI and deep machine
learning. The solutions enhance clinical assessments, treatment planning, and disease progression monitoring of patients with retina conditions, such as Diabetic Retinopathy, Glaucoma and Age Related Macular Degeneration.
About Leben Care
Leben Care is an artificial intelligence healthcare company based out of Singapore, focused on improving quality of diagnosis across the areas of life sciences. Leben Care’s first flagship AI Platform Netra.AI uses cutting edge algorithms with a 4 step Deep Convolutional Neural Network (DCNN). Netra.AI enables automated and point of care Retinal Image Analysis by reducing incidence of blindness by timely identification of patients at risk and offering insights to medical practitioners thus enabling improved diagnostic outcome.
About IP Ventures
IP Ventures is a sub-initiative of CXO Genie. It was founded in 2017 by nine CFOs/ finance professionals who come from the start-up ecosystem, either in the capacity of a co-founder or by leading their organisations through various stages of funding themselves.