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Arali Ventures, a recently established early-stage venture capital firm headquartered in Bengaluru, has led a $500,000 pre-seed round in Norwegian deep tech healthcare start-up Oivi AS, with participation from investors in Norway, the Netherlands, China and marquee angel investors in India.
Headquartered in Norway with a subsidiary in India, Oivi is focussed on early detection of diabetic retinopathy. It will use the money on research and development, product development, early patient testing and to understand the need being filled in the global market, starting in India, according to a press release from Oivi.
Diabetic retinopathy, the release said, affected more than 160 million people globally and was the common cause of blindness among people with diabetes. Lack of easy-to-use portable screening devices contributes to blindness caused by diabetic retinopathy. Oivi, it said, was catering to this need by developing a hand-held screening device that automates the retinal image capture, enabling it to be used in primary care requiring minimal training.
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