Industry News
New Zealand Company Toku Eyes Poised for US Breakthrough
Auckland-based Toku Eyes, specialised in applying AI-powered diagnostic and screening tools to retinal imaging, seems poised to make it big in North America following a US$8 million ($13m) Series A raise involving two of the biggest players in the US optometry market. The financing was co-led by National Vision, Inc., one of the largest optical retailers in the U.S., and Topcon Healthcare, a leading provider of medical devices and software solutions for the global eyecare community.
Toku Eyes makes AI-powered software that analyses scans of the back of your eye. Because your eye is transparent, it’s one of the easiest ways to get a picture of your veins – and changing colour or shape that indicates a heightened risk of type 2 diabetes, a stroke or cardiovascular problems. The idea is to not just scan for diabetes-related preventable blindness, but give you a picture of your overall health.
Toku founder Associate Professor Ehsan Vaghefi says a cardiovascular checkup would ordinarily entail a trip to your GP, then a referral to a specialist as you navigate an often jammed health system. He sees Toku Eyes’ platform being available in every optometrist in every mall, making it faster, cheaper and easier to get a snapshot of your cardiovascular health.
“We are proud to gain the support of two companies that play essential roles in vision care and optical technologies worldwide,” said Toku co-founder and CEO Ehsan Vaghefi. “Over 80 percent of cardiac events and diabetes related blindness could be prevented by identifying risk and applying targeted interventions. We are building a future in which more people have affordable access to this critical health data—all from analyzing a retinal image.”
“Through AI-powered technology, Toku has found a way to identify potentially life-saving information quickly, accurately, and unobtrusively during a routine eye exam. We’re investing to help make that technology available to everyone who relies on us to help them see better, to live better, while also bridging the gap between eyecare providers and primary care,” said Priti Patel, OD, National Vision’s senior vice president of health care strategy and development. “This is an opportunity to help shape AI technologies that will prioritize better outcomes for patients and deepen the quality of care we’re able to provide,” Dr. Patel said.
“Topcon is supporting technology for early detection of diseases of and through the eye,” said Akifumi Baba, president of Topcon Medical Systems. “Toku retinal image analysis technology will do just that by giving people access to potentially life-saving health insights while overcoming traditional access and affordability barriers that too often accompany new health care tools. We are excited to provide our data science expertise to Toku Inc. and to welcome them as our first Entrepreneur in Residence.”
