Eyebot has secured $6 million in funding to revolutionize vision exams through its innovative AI-powered kiosks. The investment, led by AlleyCorp and Ubiquity Ventures, with participation from several prominent venture capital firms, underscores the high demand and potential for Eyebot’s disruptive technology.
The concept addresses a prevalent issue faced by many Americans: the need for a current eyeglass prescription to purchase corrective eyewear. With over half of the population relying on glasses or contact lenses, obtaining a vision exam traditionally involves scheduling appointments with optometrists, leading to delays, especially in rural areas experiencing a shortage of eye care practitioners.
Eyebot aims to transform this process by deploying self-serve vision-testing terminals in convenient locations such as shopping centers, grocery stores, and pharmacies. These kiosks utilize advanced computer vision technology to conduct comprehensive vision exams within approximately 90 seconds, eliminating the need for direct optometrist involvement.
Matthias Hofmann, founder and CEO of Eyebot, highlights the evolution of the technology from his previous venture at EyeNetra, where smartphone-based testing methods were explored. Eyebot’s fully automated experience simplifies the exam process, requiring users only to stand in front of the kiosk.
Following the exam, Eyebot-generated prescriptions are finalized by teledoctors within 24 hours. Consumers can opt for a $30 exam fee or receive a complimentary exam when purchasing glasses from Eyebot’s partner brands. The technology is FDA registered, ensuring compliance and safety standards.
Eyebot’s revenue model revolves around partnerships with major eyewear brands, offering them an opportunity to showcase their products in retail locations. The company plans to monetize by taking a commission on eyewear sales facilitated through its kiosks.
With significant interest from investors and partnerships with key eyewear merchants in the pipeline, Eyebot is poised for expansion beyond New England, leveraging the newly acquired funds to introduce its disruptive solution to broader markets.