Aston EyeTech secures £5m funding

Aston EyeTech, a company created by Aston University’s optometry department, has received a £5 million grant.

The money will be used to increase product development, with launches planned for 2018. 

New products include a range of power mapping lens meters, binocular auto-refractors and a cloud-connected mobile diagnostic platform that integrates portable hardware, artificial intelligence (AI) and data analytics. 

Chief executive of Aston EyeTech, Carl D Francis, said: “Our products coming out in 2018 will be bold, game-changing, and enhance the way that eye healthcare is delivered around the world.”

“Everything we do is focused on delivering increased portability, wider accessibility, and lower cost across the industry,” he added. 

Aston EyeTech received funding from investment group Mercia Technologies and an Asia-based investment syndicate. 

Head of life sciences and biosciences at Mercia Technologies, Peter Dines, explained that the investment company has worked closely with Aston EyeTech over the past three years. 

“We are pleased to continue our support of the business as it joins our direct investment portfolio. We firmly believe that Aston EyeTech has significant potential to disrupt a large and growing global market,” Mr Dines said. 

Aston EyeTech was founded in 2014 to develop the biomedical engineering work of chief technology officer, Dr Tom Drew, and an AI-based ophthalmic diagnosis support platform. The company’s board members include non-executive director, Dean Butler, who founded LensCrafters and Vision Express in Europe.