Healthcare Startup, Remidio, Raises Series B Funding

Bangalore-based healthcare product solutions company, Remidio Innovative Solutions Pvt Ltd, has raised an undisclosed amount in series B round of funding from domestic HNIs and Cipher-Plexus Capital Advisors.

Founded 2009 by Anand Sivaraman and Pramod Kummaya, Remidio, is an ophthalmic products company that aims to bring out affordable products. The company’s vision is to bring to market ophthalmic devices that are affordable, easy-to-use and built with a larger aim of tackling avoidable blindness in resource-starved situations.

The company has two products – 1) the smartphone based ‘Fundus on Phone’ (FOP) which ‘piggyback’ onto a regular smartphone and takes high resolution images of the back of the eye, and 2) Angio on Touch (AOT) Diagnostic Imaging System.

How it works:

Speaking on the development, Sivaraman, CEO & co-founder, Remidio said, “There is a huge demand for eye wellness technologies that are simple to use, high quality, and telemedicine enabled over the smartphone. With the current round of funding, we will aggressively scale the business in both the Indian and International markets.”

He further added, “Remidio’s products have the potential to revolutionise the eye health imaging market, valued at over $1.5 Bn worldwide, besides having a significant impact on preventable blindness that affects more than 285 million worldwide.”

Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.