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Autoyos Private Limited

iRobo : Eye Care - Anytime Anywhere

India, Karnataka
Market: Robotics, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 07.09.2020
Min investment
$  500.000
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Total required
$ 1.000.000
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Idea

iRobo : An intelligent autonomous system to provide end-to-end eye care without requiring an operator by utilizing available infrastructure. iRobo is a revolutionary solution which provides early detection of eye conditions which is easily accessible and easily accessible. With minimal human intervention iRobo reduces the risk of any viral infection like COVID19.

Current Status

Product:
MVP is ready and tested in pre-clinical studies at eye hospital and eye-wear stores
iRobo is tested for safety regulations according to IEC standards


Awards and recognition:
1. Selected as Top 10 team from 63 countries by DBS Foundation as part of Social Impact Prize 2020
2. Selected as Global Top 50 team among 2500+ applicants for LKY global Business Plan competition 2021
3. Selected as Asia Pacific Top 20 MedTech startup by MedTech Innovator
4. Won Bio Ignition Grant from Govt of India
5. Won BEST STARTUP award by Govt of India 2019

Market

Conventional eye care market is multi billion dollar business. With iRobo we are catering to both clinical customer segments (conventional market) and non-clinical segments (untapped market)

The estimated market size for iRobo is between USD 8 billion to USD 10 billion

Problem or Opportunity

Eye delivery is badly affected by the scarcity of eye doctors and other skilled manpower, especially in Asia. And it is a segment which has lot of dependency of trained professionals and dedicated infrastructure.

Asymptomatic patients are at a huge risk having huge disease burden.

The direct and indirect cost associated with seeking the eye care is considerably high and there are no effective solution available.

For care providers it is not financially viable to provide the care outside the hospital on a regular basis. It requires a huge investment for them to set up a permanent facility in order to scale and expand their business to other places.

Solution (product or service)

Objective of iRobo is to take the eye care out of the clinical setups and to provide the care much closer to the needy.

Being fully autonomous system, iRobo ensure minimal dependency on the skilled manpower and dedicated infrastructure. By providing early detection of eye diseases the disease burden for the patients reduces significantly.

iRobo enables care providers to scale and expand their business outside the clinical setups. With advanced cloud-connected remote diagnosis and AI, the health professional can even connect to the device and get additional information if required.

Competitors

iRobo features non-mydriatic fundus imaging, corneal imaging and refractive error measurement all in one without requiring an operator.

We currently do not have any direct competitor for iRobo

However we recognize the potential competitors as follows

Forus Healthcare
Remidio
Zeiss
Topcon

Advantages or differentiators

iRobo enables effective eye care delivery Anytime Anywhere

This competitive advantage covers the entire gamete of our uniqueness.

Finance

iRobo offers both non-recurring and recurring revenue streams to ensure a sustained profitable business.

For the customers, the period of return on investment is less than one year considering conservative numbers.

AI diagnosis plays an important role for us to generate the recurring revenue and with upgrades it will be scaled up significantly

Business model

It is a B2B model through various channels.

Our strategy is to engage with Key Opinion Leader and eminent personalities to promote iRobo at various national and international platforms to get sufficient branding, visibility and credibility

We would like to target for the sector with quick sales cycle to ensure the continuous cash flow at the beginning

We will be partnering with the existing sales and distribution channels in the initial years and make use of their market presence.

Money will be spent on

Clinical Validation
Regulatory certifications
Procurement of critical components and manufacturing for Pilot Sales
Marketing
Technical and Nontechnical manpower
Maintenance and contingency

Offer for investor

Up to 17% for investment of 1 million USD

Team or Management

Risks

One of the biggest risk we see is the lack of market presence as we are one year old startup and we do not have any market history. In terms of technology we have protected it through multiple patents.

Incubation/Acceleration programs accomplishment

MedTech Innovator Asia Pacific Accelerator 2020 being Top 20 MedTech company in Asia Pacific

Incubated at C-CAMP, Govt of India agency

Karnataka Starup Advancement Programme, by Karnataka State GOvernment

Won the competition and other awards

Awards and recognition:
1. Selected as Top 10 team from 63 countries by DBS Foundation as part of Social Impact Prize 2020
2. Selected as Global Top 50 team among 2500+ applicants for LKY global Business Plan competition 2021
3. Selected as Asia Pacific Top 20 MedTech startup by MedTech Innovator
4. Won Bio Ignition Grant from Govt of India
5. Won BEST STARTUP award by Govt of India 2019

Invention/Patent

Indian Patent application 201941000053
PCT international application PCT/IB2020/056222

Photos

Photo 1 - iRobo : Eye Care - Anytime Anywhere
Photo 2 - iRobo : Eye Care - Anytime Anywhere

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