Photo - Ophtas
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Ophtas

Automated diagnostics affordable and accessible for everyone

Ukraine, Kyiv city
Market: Auto Maintenance
Stage of the project: Idea or something is already done

Date of last change: 07.05.2021
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Idea

Ophtas is a fully automated AI service for early, quick and convenient detection of diseases through retinal check.
Retinal imaging and analysis is an only non-invasiveness and highly informative test method to check the smallest blood vessels and nerves status. It widely used in medical practice to diagnose: diabetic retinopathy,
glaucoma, age-related macular degeneration. Used for early signs detection: cardiovascular diseases, diabetes, Alzheimer's disease.

Current Status

We are developing MVP.
Ophtas is a service but under hood consist of a robotic fundus camera (for retina imaging) and cloud AI (for recognition of diseases manifestations). So for POC we created separated links of the chain (mechanic positioning, camera + optics, image stitching, AI prototype).which are assembling for MVP now.

Market

According to current medical guidelines, the retinal check is recommended to all healthy people once a year, and in the presence of serious diseases - once a quarter.
For example, in the US the healthcare spending increases by 9.6k per year and decreases in lifespan by 2-12 years when the patient passes from a state of prediabetes (80M people) to diabetes (36M people).

Problem or Opportunity

End users for Ophtas service are people, literally everyone. But main customers are insurance companies and clinics. Entities who actually pay in the developed world for diagnostics and treatment.
We offer cost reduction because of inexpensive retinal check-ups and effective and cheap treatment when disease recognized on early stage.

Solution (product or service)

Ophtas service saves time for end-user and money for personal and public budgets.

https://drive.google.com/file/d/1A50mB5YnIB2i23R__czX8ccAmqrtqMbq/view?usp=sharing

Competitors

The existing competitor is an ophthalmologist with a sophisticated fundus camera. But good doctors are not scalable, have limited throughput, cost a lot, not accessible in some areas.

Advantages or differentiators

We offer full and convenient service of inexpensive and accessible retinal tests. Good service is the hardest thing to copy.
We have R&D in Ukraine so we have a price advantage in access to high-quality hardware, software, and medical professionals. Access to medical data for ML purposes much easier in Ukraine than in developed countries.

Finance

The price is 20-30 USD per test (on different markets).
The cost of the test is about 5 USD.
One device could make at least 4k tests per year.
Every 1k devices will create revenue of at least 80M.

Business model

The business model is B2B2C: pay-per-use or personal subscription.
Cooperation with insurance companies and doctors to flow patients for checking using Ophtas.
Cooperation with existing networks (optics, pharmacy, clinic and etc) to create the additional service for clients testing.

Money will be spent on

We need investments to complete MVP (HW+SW+AI) and pilot projects in Ukraine

Offer for investor

10-15%

Team or Management

Risks

Some giant company with unlimited resources will decide to enter to exact our market. And its purpose will be to destroy all possible competitors.
New technology will appear that will offer easy control of all biological parameters of the body (for example sophisticated nanorobots).
We all die)

Incubation/Acceleration programs accomplishment

UnitCity Nest Bootcamp, Kyiv, Ukraine. 15.03.2021-15.06.2021

Won the competition and other awards

EMERGE CHALLENGE Semifinalist, but it is still in progress)

Photos

Photo 1 - Automated diagnostics affordable and accessible for everyone

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video