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RETINA-AI Health, a Startup Founded By Nigerian-born Stephen Odaibo Raises $5.2M for AI Detection of Diabetic Retinopathy

RETINA-AI Health, Inc. Raises $5.2M for AI Detection of Diabetic Retinopathy

RETINA-AI Health, a startup founded by Nigerian-born Dr. Stephen Odaibo has raised $5.2M in Series A funding for Artificial Intelligence screening of diabetic retinopathy.

The capital was raised from private investors, 80% of whom are physicians. Also included amongst the investors are business titans such as Bill Smith, Founder of Shipt (acquired by Target in 2018).

Diabetes affects up to 35 million Americans, and each person with diabetes needs at least one retinal exam per year. However, due to a number of factors including cost, inconvenience, lack of transportation, and a shortage of eye specialists, more than half of people with diabetes in the U.S. do not get their annual retinal exam. And this too often results in preventable blindness.


RETINA-AI (@retina_ai) | Twitter

RETINA-AI Health, Inc. has developed artificial intelligence technology to enable the diabetic retinal exam to be done in the primary care setting. The company’s HUMMINGBIRD DR 100™ is a cloud-based AI detector of diabetic retinopathy which interprets the retinal image and returns a PDF report within a few seconds.

RETINA-AI Health Inc.’s founder and CEO, Dr. Stephen Odaibo, a retina specialist, computer scientist, and full-stack AI engineer says the funds will be used to take the company’s retina-based AI detection technology through the FDA.

Dr. Richard Y. Hwang, MD, PhD, a retina specialist in El Paso, Texas, says, “artificial intelligence has the potential to make a significant impact in diabetic retinopathy screening by improving the efficiency, cost-effectiveness, and the accessibility of screening programs.”

Dr. Odaibo adds that “the confluence of value-based healthcare delivery and artificial intelligence provides a tangible and timely opportunity for positive impact.”


GetFundedAfrica is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation

Are you an entrepreneur? Share your story with us and get featured on our platform send us an email nichole@getfundedafrica.com

In this episode of GFA Attract, Nichole discusses with Dr. May Ikeora, an Academic Author, Ex-Beauty Queen, Independent Consultant (Gender & Human Rights) and currently CEO – L’Avyanna UK. L’Avyanna products are traded in the United Kingdom, Italy, the U.S.A and other various countries. Dr. May is also highly active in empowering and advocating for the rights of girls through her Raising Girls Project. She achieved these whilst also managing the Miss Nigeria Organisation (est. 1957).

Nichole Manhire

Is the productive executive for the media department at GetFundedAfrica

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