1 The EIC Accelerator Project
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in their quest to innovate and scale. It provides funding opportunities through a combination of grants and equity investments, specifically targeting deep-tech ventures that can contribute significantly to the European economy.Funding Structure
The EIC Accelerator offers a dual funding structure:
Purpose of the EIC Accelerator
The primary aim of the EIC Accelerator is to foster innovation within the European DeepTech ecosystem. By offering substantial financial support, the program seeks to bridge the funding gap that many startups face when transitioning from the concept stage to market-ready products. The EIC Accelerator targets high-risk projects that have the potential to disrupt markets and create jobs, thereby contributing to economic growth and technological advancement in Europe.
The program plays a crucial role in helping companies not only secure funding but also develop a sustainable business model that can attract further investment from private sectors. By providing a blend of grant and equity funding, the EIC Accelerator enhances the attractiveness of these ventures to private investors, increasing the likelihood of successful scaling.
OIVI AS and the iScan Project
OIVI AS, a Norwegian startup, emerged as a winner of the EIC Accelerator with its innovative project known as iScan. The proposal was submitted on June 15, 2022, during the Step 2 phase of the application process, and OIVI AS successfully advanced to the Step 3 interview, ultimately securing funding.
Project Overview: iScan
The iScan project focuses on developing an automated retinal scanning system that utilizes artificial intelligence (AI) for the early detection of diabetic eye diseases. This technology aims to address a significant health issue, as diabetic retinopathy is a leading cause of blindness among working-age adults globally. Early detection is critical to prevent vision loss, and the iScan project serves to streamline this process through advanced imaging and AI algorithms.
Technology Basics and Background
The underlying technology of the iScan project combines high-resolution retinal imaging with sophisticated AI algorithms designed to analyze these images for signs of diabetic eye diseases. The system automates the scanning process, making it faster and more accessible for healthcare providers. The key technological components include:
- Retinal Imaging: The use of non-invasive imaging techniques to capture detailed images of the retina. These images are crucial for identifying early signs of diabetic retinopathy and other eye conditions.
- Artificial Intelligence: Advanced machine learning algorithms are trained on vast datasets of retinal images to detect patterns and anomalies that may indicate the presence of disease. The AI's ability to learn and improve over time enhances its diagnostic accuracy and efficiency.
- User-Friendly Interface: The iScan system is designed to be user-friendly, allowing healthcare professionals to easily operate the device and interpret results without extensive training.
The implications of the iScan project are profound, as it has the potential to significantly improve patient outcomes by facilitating earlier diagnosis and treatment of diabetic eye diseases. By integrating cutting-edge technology into routine eye care, OIVI AS is not only addressing a pressing health concern but also contributing to the broader goal of enhancing healthcare delivery through innovation.
In summary, the EIC Accelerator program provides essential support for companies like OIVI AS, enabling them to leverage funding to bring transformative technologies to market. The iScan project exemplifies the potential impact of this program on the healthcare sector, particularly in the realm of preventive medicine for diabetic eye diseases.
2 The Funding Rounds
OIVI AS: Financing and Funding Overview Since EIC Accelerator Award
OIVI AS, based in Norway, is a deeptech health startup focused on AI-powered retinal imaging to prevent diabetic blindness. After submitting its Step 2 proposal for the EIC Accelerator on June 15, 2022, and later winning in the Step 3 interview, OIVI has had several notable financing events and funding rounds.
Financing Raised & Total Funding
- As of April 2023, OIVI has raised approximately $7.46 million across six funding rounds.
- This total includes grants (notably from the EU's Horizon Europe/EIC Accelerator) as well as equity investments.
Funding Rounds: Timing & Amounts
| Date | Round | Amount | Notes |
|---|---|---|---|
| Sep 30, 2019 | Pre-seed | $500K–$600K | Led by Arali Ventures; early-stage product development |
| Dec 30, 2020 | Seed VC | Not disclosed | |
| Oct 27, 2022 | Grant | Not disclosed (EIC grant likely awarded around this time) | |
| Apr 13, 2023 | Series A | $2.91M | Investors undisclosed |
Investor Information
- Arali Ventures LLP, an India-based deeptech venture capital fund specializing in enterprise technology ventures.
- Other investors include Stratel (Norway), Farvatn Venture (Norway), Planet9 Capital (Netherlands/China/India participation noted at pre-seed stage).
- Series A investor identities are not publicly disclosed as of April 2023.
Company Valuations
- Enterprise valuation estimated between $12 million – $18 million USD as of January 2023 by Dealroom.co.
- No public data available regarding post-money valuations from recent equity rounds or after the EIC grant.
Exit Events: IPOs or Acquisitions
- As of April 30th, 2025:
- There is no public record of an initial public offering (IPO), buyout event, or acquisition involving OIVI AS.
- The company remains privately held and continues to develop its core technology for global markets.
Summary Table: Key Financial Events Since June 15th 2022
| Event | Date | Details |
|---|---|---|
| EIC Accelerator Grant Awarded | ~Oct/Nov 2022 | €2.5M non-dilutive funding |
| Series A Round | Apr 13th 2023 | $2.91M raised; investors undisclosed |
Additional Insights
OIVI’s strong focus on automated eye disease diagnostics through AI-powered cameras positions it at the intersection of medical devices and artificial intelligence sectors—a profile attractive to both impact-driven funds and tech VCs globally.No exit activity has been reported since their major fundraising events post-EIC award; company valuation estimates place them firmly in scale-up territory but short of late-stage private market levels or IPO-readiness.
Sources: - Oivi company information, funding & investors - Dealroom.co
- Oivi Stock Price, Funding, Valuation – CB Insights
- Oivi: Funding Rounds – Inc42 DataLabs
- [[Funding alert] Deeptech healthcare startup Oivi raises $500K in pre-seed round led by Arali Ventures – YourStory](https://yourstory.com/2019/09/funding-alert-deeptech-healthcare-startup-oivi-arali-ventures)
- The iScan Project – Oivi official website
3 The Press Releases
OIVI AS: Advancements and Updates Since EIC Accelerator Funding
OIVI AS, a Norwegian company, received the prestigious EIC Accelerator funding on June 15, 2022. This funding has significantly propelled OIVI's mission to revolutionize healthcare through AI-driven eye screening technology. Here are some key developments and updates related to OIVI since this milestone:
Technology Advancements
Partnerships and Collaborations
While specific new partnerships are not detailed in the available information, OIVI continues to focus on empowering healthcare facilities with effective eye screening solutions. Their technology is designed to be adaptable and accessible, making it suitable for primary care practices worldwide.
Team and Company Updates
OIVI is expanding rapidly and has been hiring to support its growth. They are actively recruiting for roles such as sales representatives to help drive their mission forward.
Press Releases and Blog Posts
OIVI's website does not feature a dedicated press release section. However, their updates are primarily focused on their mission to improve healthcare outcomes through advanced eye screening technology. They highlight their achievements, such as scanning over 60,000 patients and identifying numerous cases of diabetic retinopathy.
Patents
There is no specific information available regarding new patents filed or granted to OIVI since receiving the EIC Accelerator funding.
Conclusion
Since receiving the EIC Accelerator funding, OIVI AS has made significant strides in developing innovative healthcare solutions. Their focus on AI-driven eye screening is poised to make a substantial impact in early disease detection and treatment, particularly for diabetic retinopathy.
Sources
4 The Technology Advancements
Overview of OIVI AS
OIVI AS, headquartered in Oslo, Norway, is a health tech company that specializes in developing an AI-powered camera for the early detection of diabetic retinopathy and other retinal diseases. The company’s mission is to make eye care more accessible and affordable, particularly by providing automated retinal screening solutions that can be used in primary care settings without requiring extensive training.
Advancements Since EIC Accelerator Funding
Following the receipt of the EIC Accelerator funding in June 2022, OIVI AS has made significant advancements in its technology and business strategy. The company was awarded 2.5 million EUR, which has been instrumental in developing the Falcon, a point-of-care camera designed to detect vision-threatening eye diseases through automated AI diagnostics. This funding has enabled OIVI to enhance its device's capabilities, especially in capturing high-quality retinal images and facilitating early detection of diabetic retinopathy.
Technological Improvements
OIVI’s device integrates AI-integrated solutions, providing a portable and easy-to-use platform for healthcare professionals to perform retinal screenings without prior training. This innovation addresses the shortage of eye specialists and the need for accessible healthcare in both developed and developing countries. The company aims to transition the standard of retinal disease screening from specialized clinics to primary care settings, improving patient flow and reducing the risk of vision loss.
Market Demonstration and Trials
OIVI has been actively involved in preliminary clinical validation, collaborating with hospitals in India to test the reliability and stability of its product. The company plans to mature its hardware design and conduct further clinical trials to achieve certification and launch its MVP in India and the US by 2024, followed by an enhanced version in 2026. This strategic approach involves both market demonstration and clinical trials to validate the effectiveness and safety of their technology.
New Features and Patents
While specific details on new features introduced post-funding are not readily available, OIVI continues to focus on refining its AI diagnostics and camera technology. The company has filed patents related to optical devices, lenses, and geometrical optics, indicating ongoing research and development in these areas. There is no recent information on new patents filed or scientific studies published since the funding.
Conclusion
Since receiving the EIC Accelerator funding in June 2022, OIVI AS has leveraged the grant to enhance its AI-driven retinal screening technology. The company continues to advance its device's capabilities,including improving its portability and ease of use, and is on track to launch its MVP in key markets while expanding its clinical trials. While there are no reported new patents or scientific studies, OIVI remains committed to its mission of preventing blindness through accessible and affordable eye care solutions.
Sources
- Oivi
- Oivi company information, funding & investors
- Automated retinal scans for early detection of diabetic eye diseases
- Oivi company information, funding & investors
- Oivi AS - Norway Health Tech
- The iScan Project - Oivi
- Oivi - Products, Competitors, Financials, Employees
- Received grants for game-changing innovations - Norway Health Tech
5 The Partnerships and Customers
OIVI AS: Partnerships and Relationships Since EIC Accelerator Funding
OIVI AS, a Norway-based company specializing in automated eye screening technology, received significant funding from the European Union's EIC Accelerator program in June 2022. This funding marked a crucial milestone in OIVI's mission to develop and deploy cutting-edge eye care solutions, particularly focusing on diabetic retinopathy detection.
Partnerships and Customers
OIVI AS has not publicly disclosed new partnerships or customer names since receiving the EIC Accelerator funding. However, the company has been collaborating with various entities to enhance its technology and reach. For instance, OIVI has partnerships with organizations like Norges Forskningsråd, EIC Accelerator, Skyfall Ventures, Arali Ventures, and StartupLab, which have supported its growth and development.
New Relationships
While specific new partnerships or customers have not been announced, OIVI's involvement with the EIC Accelerator program positions it as a leader in the AI eye screening market. This recognition likely attracts new collaborators and customers interested in innovative healthcare solutions.
Nature and Purpose of Relationships
OIVI's relationships are primarily focused on advancing its AI-camera and platform for early detection and management of diabetic eye diseases. The EIC Accelerator funding is specifically aimed at developing "Falcon," a point-of-care camera designed to detect preventable and vision-threatening eye diseases through automated AI diagnostics.
Positioning in the Market
The EIC Accelerator funding and recognition enhance OIVI's market position by solidifying its reputation as a pioneering force in accessible eye care technology. This prestige can attract both new investors and potential customers seeking innovative solutions for diabetic retinopathy screening.
Technology Advancements and Scaling
OIVI's partnerships and funding will likely accelerate the development and deployment of its retinal camera technology. The company's focus on AI diagnostics and compact, affordable design makes it well-suited for scaling within primary care settings, enhancing accessibility to eye care services globally.
Sources:
- Oivi
- Company - Oivi
- Oivi Company Profile: Funding, Investors & Partnerships
- Oivi - Products, Competitors, Financials, Employees
- Oivi Retinal Camera - Eker Design
- The iScan Project - Oivi
6 The Hiring and Company Growth
OIVI AS: Team Growth and Hiring Post-EIC Accelerator FundingOIVI AS, a Norwegian medtech startup specializing in AI-driven retinal screening for diabetes patients, has demonstrated steady growth since its EIC Accelerator win in mid-2022. While specific details about the EIC funding amount are not publicly disclosed, the company’s hiring patterns and operational scale provide insights into its trajectory.
Team Size and Hiring
- Current headcount: OIVI employs 40+ individuals (as of 2025) across its offices in Norway and India[^10^]. Earlier reports cited 11–50 employees[^1^], indicating gradual expansion.
- Active hiring: The company lists open roles, including Sales Representatives in Florida (U.S.) and encourages open applications for positions spanning engineering, sales, and operations[^7^][^10^]. This reflects a focus on scaling commercial efforts globally.
- Growth rate: While exact figures post-2022 are unavailable, OIVI has expanded from a smaller team to over 40 employees since its 2017 founding, with accelerated growth likely post-EIC funding.
Strategic Hiring Priorities
Recent job postings emphasize roles critical to market penetration:- Sales/Commercial: Positions targeting geographic expansion (e.g., West Palm Beach) aim to increase adoption of OIVI’s retinal camera platform in primary care clinics worldwide.
- Technical talent: Roles related to hardware manufacturing and cloud-based diagnostics suggest ongoing refinement of their AI-enabled screening ecosystem.
Scaling Impact
New hires support OIVI’s mission to democratize eye screening by enabling:Management Stability
The founding team—CEO Anders Eikenes (Norway) and CTO Khaleel Udyawar (India)—remains intact per available data[^.4^.], with no reported leadership changes post-EIC award. Their dual-country structure supports R&D in Norway while leveraging India’s clinical testing ecosystem for cost-effective scaling[^.4^.][^.7^.].Sources
7 The Media Features and Publications
OIVI AS: Overview and Recent Developments
OIVI AS, based in Norway, received the EIC Accelerator funding in June 2022. The company is known for its innovative approach to vision care, particularly through its retinal camera technology designed for rapid and precise eye screening.
Media Features
Currently, there is limited public information available on specific media features or publications that have named OIVI AS. However, the company's cutting-edge technology and participation in the EIC Accelerator program suggest potential for media coverage in the near future.
Publications
There are no notable publications specifically focused on OIVI AS available in the public domain. The company's website and product details highlight its advancements in retinal imaging, which could attract interest from medical technology publications.
Podcasts and Interviews
At present, there is no publicly available information on podcasts or interviews conducted by the team at OIVI AS. The company's focus seems to be on developing its retinal screening technology rather than engaging in extensive media appearances.
Conference and Fair Visits
Details about OIVI AS's participation in conferences, fairs, or presentations are not readily available. As a recipient of the EIC Accelerator funding, the company may be involved in various industry events, but specific information on these activities is not currently documented.
Involvement in Events
OIVI AS's involvement in events is likely tied to its role as an EIC Accelerator winner, but specific details on event participation or presentations are not accessible at this time.
Conclusion
OIVI AS is a Norway-based company recognized for its innovative retinal camera technology, which aids in quick and accurate eye screenings. While the company has received significant funding through the EIC Accelerator program, detailed information on media coverage, publications, and event participation is limited.
Sources
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