Oivi raised $500k from Arali Ventures.
Oivi AS, an Oslo, Norway-based healthcare startup, announced that it has raised $500k in a pre-seed funding round.
The round was led by Indian venture capital firm Arali Ventures, and included other investors from India, Norway, Netherlands and China.
This financing round will help further research and development, product development, early patient testing, and understanding the need in the global market, starting in India.
Oivi, founded in 2017 by Anders Eikenes, Khaleel Udyawar, Jukka Alasirniö and Hans Einar Øverjordet, is focused on early detection of diabetic retinopathy, the most common cause of blindness among people with diabetes.
The company, headquartered in Norway with an Indian subsidiary, is developing a hand-held screening device that automates retinal image capture. This device requires minimal training and can be deployed in primary care, while the company's AI-based image diagnostics enable early referrals to retinal experts for treatment, the statement added.
Prior to this round, Oivi raised money from Startuplab Founders in 2018.