Eyebot has secured $6 million in funding for AI-powered kiosks that deliver 90-second eye exams without the need for an optometrist
More than half of the American populace wears contact lenses or spectacles.
Although an abundance of affordable and luxurious eyeglasses is available for purchase online or in physical stores, consumers are only permitted to acquire them with a valid eyeglass prescription.
This implies that they must undergo an eye examination from an optometrist before receiving the prescription.
However, obtaining an appointment may take weeks, particularly in rural areas, due to a nationwide deficit of eye care practitioners.
Eyebot, a new startup that emerged from covert on Thursday, aims to reduce the duration of an eye exam to approximately 90 seconds without the direct involvement of an optometrist.
The Boston-based company will introduce its self-serve, vision-testing terminals in retail centers, grocery stores, and pharmacies throughout New England beginning in October.
Anyone who desires to have their vision evaluated may approach Eyebot’s kiosk, which is approximately five feet long, press a button, and the company’s computer vision technology will automatically analyze the individual’s eyes, extracting the prescribed eyeglasses or contact lenses.
(While Eyebot cannot perform initial contact lens fittings, it can update an existing prescription.)
Matthias Hofmann, the founder and CEO of Eyebot, stated that he developed comparable technology at EyeNetra, a startup that employed smartphones to evaluate vision, a decade ago.
(According to Hoffman, who served as the company’s chief engineer until 2015, EyeNetra shut down several years ago.)
“We realized that smartphones are not the most effective solution,” stated Hoffman, a postdoctoral tomography researcher at Harvard Medical School before joining EyeNetra.
“People desire a fully automated experience that requires no learning or complex tasks.” Our technology now enables individuals to stand in front of our devices merely.
Teledoctors finalize eyebolt-generated prescriptions within 24 hours, and consumers who wish to purchase spectacles from any retailer must pay $30 for their examination.
However, the eye exam is complimentary if they purchase spectacles from one of Eyebot’s partner brands. Hoffman stated that the FDA has registered the technology.
The company anticipates that major eyeglass manufacturers will lease Eyebot terminals and install them in their chosen retail locations.
A purchaser can purchase eyeglasses from a specific brand directly on a touchscreen within the kiosk or by utilizing their smartphone after completing their examination.
Eyebot intends to generate revenue by collaborating with these eyewear manufacturers and collecting a commission on each transaction.
Hoffman stated, “Retailers are searching for novel channels to engage with their customers.” “They now have the chance to showcase their brand on college campuses, as well as at CVS, Walgreens, Stop and Shop, and Kroger.”
Hoffman stated that Eyebot is considering concluding partnership agreements with prominent eyeglass and contact lens merchants. “It is an extremely profitable model.” The demand for our services is exceedingly high.
Hoffman also reported a significant demand for investing in Eyebolt’s seed round. AlleyCorp and Ubiquity Ventures led a $6 million financing round on Thursday, with Susa Ventures, Village Global, Baukunst, Ravelin, and Spacecadet also participating.
The capital will be allocated to expanding the business into new regions.
