Devices & Diagnostics

Fundraising: Startup that turns mobile phone to eye exam device raises $1M (video)

EyeNetra is developing a device that attaches to a mobile phone and can detect myopia, astigmatism and other eye conditions.

Company name: EyeNetra Inc.

Industry: Medical device and software.

Location: Somerville, Massachusetts.

Solution: A clip-on eye piece called Netra-G attaches to a mobile phone to provide a corrective prescription for glasses. The device can detect myopia, astigmatism and other eye conditions. The first tool is part of a cloud-based platform.

Money raised: $1 million (seeking another $200,000).

How it will be used: Company president declined to comment.

Investors: Unknown.

Management team: David Schafran, president; Ramesh Rashkar, co-founder and associate professor, MIT Media Lab.

Market size: $75 billion, according to EyeNetra.

Competitors: Unknown.