Ikerian secures USD 6.18 million Series A extension Financing to advance AI-driven healthcare solutions

02.05.2024 09:05, Rita Longobardi

Ikerian, the parent company of retinal disease analysis platform RetinAI, announced the successful closing of a USD 6.18 million Series A extension financing round. The investment will boost the continued development and commercial rollout of RetinAI Discovery® in ophthalmology and optometry while advancing Ikerian's expansion into new therapeutic areas.

Ikerian and its subsidiary, RetinAI U.S. Inc.— a leading developer of healthcare AI solutions for medical image and data management—announced the successful completion of its USD 6.18M Series A extension Financing round. Led by Topcon Healthcare, Inc.'s Corporate Venture Capital arm, this round saw participation from both new and existing investors, including Zürcher Kantonalbank (ZKB), the btov Industrial Technologies fund, Verve Ventures, and private investors.

The funding signals a turning point in the company's evolution, following a corporate restructuring initiated in 2023. Now operating under the name Ikerian, the company's subsidiary, RetinAI U.S. Inc., remains focused on the ophthalmology market.

With growing revenues and strategic collaborations in place, including with major pharma companies like Boehringer Ingelheim and Novartis, Ikerian is expanding its Real-World Evidence database across various eye diseases. Its recent launch of the RetinAI Discovery® Clinics platform in Europe stands for its commitment to AI-driven patient management solutions. This funding round brings the total equity raised to USD 11.66M, laying the foundation for further growth and expansion into new opportunities beyond ophthalmology as the company progresses into its Series B financing phase.

Ikerian was ranked among the TOP 100 Swiss Startups in 2018 and 2021, participated in Venture Leaders China in 2018 and Venture Leaders Life Sciences in 2017, and won the last stage of Venture Kick in 2017.

"Venture Leaders China offers an immersive, full-time program designed to decode the intricacies within the Asian giant. It has given us the contacts, the investors, the support, and the answers we needed to move forward with our plan. If you envision China as a key market for your startup and seek concrete validation, Venture Leaders is your definitive pathway forward!" highlighted Carlos Ciller, Co-Founder and CEO of Ikerian.

How did Venture Kick help you lay the foundation for your growth and today's achievement?
It was instrumental. Without Venture Kick, we wouldn't have received the visibility that brought us in touch with early investors in the first 6 months as a startup, nor the validation/testing necessary to succeed after the first year. The feedback was critical to improving our thinking, and the visibility was key to getting ourselves into the Venture Leaders in Boston in 2017, without which I wouldn't have met our first angel investor. It was a cascade of events, but we are here today in part because of that opportunity to shine, be tested, and learn from constructive feedback.

You also participated in Venture Leaders; how did it leverage your fundraising strategy?
Venture Leaders allowed me to learn about Boston and China, be exposed to a new environment, meet new investors, and make contacts that are still critical to our business today. We also opened an office in Boston 2 years ago, and learning about the healthcare ecosystem in the US and how to operate in the US market started with Boston as the cornerstone. We met our first angel investor at the startup evening event before leaving for Venture Leaders Boston!
 

Ikerian's Co-Founders: CEO Carlos Ciller, CTO Stefanos Apostolopoulos, and CSO Sandro De Zanet