Tilak Healthcare has raised €10 million in funding, accumulating a total of €22 million in funding since its inception within the iBionext ecosystem in 2016.
The funds will be allocated to expedite the expansion of OdySight in both France and international markets, in addition to advancing the development of novel solutions for various medical conditions. OdySight, the pioneering remote monitoring system for ophthalmic conditions, integrated with a gamified interface to promote consistent patient engagement, receives financial support from the French social security system through the government's 'Article 51' program for experimental technologies.
The investment from Théa, the leading independent ophthalmology laboratory in Europe, underscores the significance and value of OdySight in the realm of visual health applications. The extended collaboration between Tilak Healthcare and Théa aims to deploy OdySight with the objective of creating fresh healthcare opportunities that benefit both patients and healthcare professionals.
According to the World Health Organization, approximately 3.4 billion people across the globe are expected to experience visual impairment by the year 2030. Many of these individuals may not have received proper medical attention for their visual issues, or in some cases, these issues could have been prevented.
Recognizing this pressing need, Tilak Healthcare has developed OdySight, a Class I medical device with CE marking, which represents the first solution to integrate a medical device with a mobile video game designed for remote monitoring of age-related vision impairments.
In Europe, since the initial launch of OdySight, it has already made a significant impact on the care of 12,000 patients grappling with retinal diseases, such as age-related macular degeneration (AMD) and diabetic retinopathy. This innovative system empowers ophthalmologists to continuously monitor patients' visual acuity in real-time. Tilak's investment in telemedicine, financially supported by the French government, has established a sustainable business model that positions Tilak to attain profitability by 2025.
Edouard Gasser, Chairman, CEO and co-founder of Tilak Healthcare said: “We are very proud to announce this fundraising round and to welcome new investors specialising in digital technologies and healthcare, alongside our long-standing partners who have continued to place their trust in us. All our investors share our ambition of revolutionising ophthalmological care through digital technologies and video games, helping to address some of the problems all healthcare systems around the world are facing. We have recently hit key milestones in our quest to make Tilak Healthcare a global benchmark for remotely monitoring vision impairments. Visual health is one of the keys to ageing well, and we intend to apply our expertise to help people maintain their vision as best as possible.”