Dive Medical Obtains €1.1 Million from the Government

Dive Medical, the Spanish company specializing in the early detection of visual anomalies in children has received €1.1 million from the Government to advance in the development of its technology, as explained by Dive Medical.

The latest aid that has been granted to Dive Medical comes from the Center for Industrial Technological Development  (Cdti), a body under the Ministry of Science and Innovation.

With the contribution of the Cdti, Dive Medical will advance in the clinical validation of its visual screening technology, carrying out an evaluation in several countries to demonstrate its effectiveness. The company’s solution, which is based on the combination of eye tracking (eye tracking) and artificial intelligence, has the potential to be used to support the diagnosis and monitoring of other diseases such as autism, Parkinson’s, and Alzheimer’s.

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Dive Medical expects to raise around half a million euros through convertible loans

The company, with an office in San Sebastián and the result of a technology transfer project from the University of Zaragoza, the Aragon Health Research Institute (IIS Aragón), and the Aragonese Institute of Health Sciences (Iacs), is accepting convertible loans as part of its growth strategy. Dive Medical expects to capture, through this channel, around half a million euros. In addition, the company is confident of closing a series A financing round next year. At the moment the exact size is unknown.

Dive Medical was incorporated as a company in 2020 and has raised €2.2 million between public and private investment. In 2021, the company closed a financing round of €300,000, led by BStartup Health, Banco Sabadell’s program dedicated to health startups. Also participating in the round were Cecop, a community in the optical sector, investors from the network of business angels from Iese and Havard Business Angels from Spain, and business angel  Francesc Andreu Coma.

The start-up has developed Dive  (an acronym in English for device for comprehensive vision examination), a complete solution for the evaluation of visual function and early diagnosis of eye problems, designed mainly for non-cooperative patients. That is why it is especially indicated for pediatrics, applicable from six months of age, for people with development problems or the elderly, and even for patients with neurological damage.

The company closed a round of €300,000 in 2021 led by BStartup Health

Dive Medical has developed its device with which the child simply has to follow the images that appear on a screen and, in a matter of minutes, objective and reliable metrics can be obtained to facilitate the screening, early diagnosis, and monitoring of visual problems.

In relation to visual screening, Dive can be integrated into primary care centers and population screening programs to cost-effectively detect those patients who need to be referred to a specialist.

The Dive Medical team is led by five developers, founders, all of whom are engineers or physicians. Most of the capital is made up of Mable Gimeno, Marta Ortín, Victoria Pueyo, and Belén Masiá.

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(Featured image by Mr_Worker via Pixabay)

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