Eyebot Secures $20M Series A Funding to Expand Eye Care Access

Eyebot Secures $20 Million in Series A Funding for Vision Care Innovation

Eyebot, a company revolutionizing access to vision care, has successfully raised $20 million in Series A funding. The startup provides a rapid, 90-second vision test via convenient kiosk locations.

Streamlining Vision Care Access

Founded in 2021 and based in Boston, Eyebot addresses common barriers to vision care. These include lengthy appointment wait times, limited geographical access, complicated insurance processes, and high costs.

The company’s kiosks are strategically placed in high-traffic areas. Current locations include shopping malls, university campuses, retail stores, pharmacies, grocery stores, schools, and airports.

How the Eyebot Vision Test Works

Eyebot offers a complimentary, 90-second vision assessment. The resulting data is then submitted for review and validation by qualified, licensed eye doctors. This ensures prescriptions are both accurate and dependable.

Growth and Milestones

This new investment brings Eyebot’s total funding to over $30 million. It follows a seed funding round completed in June 2024, approximately one year prior.

To date, the company has administered more than 45,000 free vision tests. Projections indicate they are on course to exceed half a million tests annually.

CEO on Expansion and Validation

“The progress since our seed funding has been substantial,” stated Matthias Hofmann, co-founder and CEO of Eyebot, in an interview with TechCrunch. “We’ve transitioned from pilot programs to establishing partnerships with major U.S. companies, deploying kiosks nationwide, and delivering a significant number of vision tests.”

Hofmann further noted that revenue is increasing, and the team has doubled in size. Crucially, the business model has been validated through user adoption, doctor approval of results, and positive retailer feedback regarding increased foot traffic.

Combining Convenience with Medical Oversight

A key differentiator for Eyebot is the blend of accessibility and medical assurance. Every vision test is scrutinized by a qualified physician, and all prescriptions are issued under strict clinical supervision.

Patients exhibiting unusual test results are promptly referred for comprehensive, in-person examinations. This commitment to both speed and clinical accuracy builds consumer confidence.

Unexpected User Demographics

“We’ve observed a surprisingly high level of engagement from parents with children at our mall locations,” Hofmann revealed. “They often utilize Eyebot while shopping, sometimes even while holding their children, and obtain a prescription within minutes.”

Overcoming Initial Skepticism

Gaining acceptance from established eye care professionals presented initial challenges. Concerns regarding accuracy and the reliability of such a rapid process were prevalent.

Hofmann explained that these reservations diminished as providers recognized that experienced doctors, many with over ten years of practice, meticulously review each test result.

Eyebot’s Business Model

Currently, Eyebot’s vision test is offered to consumers at no cost. A fee is charged for the verification of any resulting prescription by one of the company’s doctors.

Additionally, Eyebot generates revenue by leasing its kiosks to optical retailers, eyewear brands, and independent optometry practices.

Future Plans

The Series A funding will be allocated to expanding kiosk deployment and bolstering the team across key areas, including product development, clinical operations, and commercial growth, according to the CEO.

Investors

The funding round was spearheaded by General Catalyst, with participation from existing investors including AlleyCorp, Baukunst, Village Global, Humba Venture, Ravelin, and Ubiquity Ventures.