AI-powered diagnostic tool Optain has raised USD 12 million in seed funding, including an investment from Ascertain. Ascertain is a partnership between Aegis Ventures and prominent healthcare provider Northwell Holdings, formed to develop and scale healthcare AI startups. 

The funds will be used to grow its operation and support its R&D, while pursuing regulatory approval and commercial rollout processes.

The technology is based on Professor Mingguang He's decade-long research conducted at the University of Melbourne and the Centre for Eye Research in Australia. It has received regulatory approvals in Australia, New Zealand, and Europe. Eyetelligence, an Australian company, currently sells the technology in these regions. Instead of taking over international sales, Optain will collaborate with Eyetelligence to bring the technology to the US market. The first customer in the US will be Northwell. 

The New York-based startup offers an AI-enabled platform and device that utilize eye photos to detect and prevent early-stage diseases in real time. The company's portable retinal camera enables healthcare providers to screen for over 140 eye and systemic conditions in a non-invasive manner. These conditions include multiple chronic and acute conditions, from ophthalmological to cardiovascular or neurological conditions.