Capital for expansion
Remote eye test firm IbisVision raises capital
IbisVision is behind pioneering technology
IbisVision, whose breakthrough technology allows opticians to test patients remotely, completed a round of capital raising in the fourth quarter that will allow it to expand its premises, workforce and customer base in the coming year.
The Glasgow-based company, which has received support from the Scottish Investment Bank and Scottish Enterprise, has now added Miami-based Compiler Venture Capital as one of its main investors.
This bolsters the business’s prospects in the lucrative US optical health market. Compiler has many years of experience within the optical sector, having helped develop and then sell For Eyes, a retail optician business with 150 locations across the US.
IbisVision has also received funding in the form of two awards from Innovate UK, a government agency established to identify and accelerate the most innovative business ideas with the most potential.
The combined funding will allow the business to expand rapidly in 2021, including taking on new heads of marketing and US sales.
The business is moving into new premises and is completing distribution agreements to cover the UK. The funding will allow the business to target growth areas such as remote refraction and clinician led remote examination and disease monitoring.
While IbisVision’s technology predates the Covid pandemic, its availability could not have come at a more propitious time.
The IbisVision platform allows optical professionals to remotely examine eyes using a variety of tests including 24–2, Amsler Grid, Ishihara Colour and Visual Acuity.
This allows for appointments, assessments, prescriptions and diagnosis of conditions such as glaucoma, a serious ailment that can cause the loss of sight, all without any need for direct contact between the medical professional and patient.
Commercial director Melville Berwick commented: “Anytime you get technology as groundbreaking as this, especially in healthcare, you have to be enthusiastic about sharing it widely so as to make a real difference to people’s lives.”