IbisVision has raised £4.5m in funding as it seeks to open offices across the US and expand further into the EU.
The Glasgow-based remote ophthalmic technology company will use the money to double its workforce and open an office in Fort Lauderdale, Florida.
The company is poised to ramp up sales in the US, where it’s estimated there are around 110 million eye tests annually, after receiving a Food and Drug Administration (FDA) listing in March.
IbisVision is also looking to tap into the eyecare market across Europe and is already in discussions with several brands to develop partnerships for its platform.
The company's refractive technology means optometrists can run standard eye tests over the internet and enable entire optical prescriptions to be conducted remotely.
The funding round is led by Miami-based Compiler VC, an optical sector specialist which previously developed and sold the For Eyes retail optician business, which has 150 locations across the US.
The investment was also supported by Deepbridge and by Scottish Enterprise, through Scottish Growth Investments.
IbisVision's chief executive Mark Roger said: “The commitment of our investor base shows they believe strongly in our story — that eyecare will be at the vanguard of remote healthcare, and IbisVision has the technology to make this a reality.”
Complier VC co-founder Adam Wolman commented: “Not only are we delighted to build on our investment relationship with IbisVision, we’re also very excited about their plans to expand and set up base in our home market in the US.
“We know the potential that this technology can bring to optometrists around the country and our expertise in the eyecare industry means that we can help IbisVision with its growth plans.“
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