26 October, 2023- The company has received €2M from investors, including Sociedad de Capital Riesgo, SGEIC, of the SPRI Group, as well as another part corresponding to the Hazitek Singular Estratégico program, promoted by the Basque Government, which finances the development of a project of more than €2.5M for the next three years.
- IRISBOND is a company in the process of expanding at a double-digit growth rate over the last 4 years.
- The objective of the funds will be to continue the expansion in the United States, improve competitiveness in Augmentative and Alternative Communication as well as all the improvements, testing and certification in the clinical/hospital field.
San Sebastian, September 28, 2023. The Basque technology company IRISBOND has announced that it has received €2M from investors, including Sociedad de Capital Riesgo, SGEIC, of the SPRI Group, as well as another part corresponding to the Hazitek Singular Estratégico program, promoted by the Basque Government, which finances the development of a project of more than €2.5M for the next three years.
IRISBOND is a Basque company founded in 2013 thanks, among others, to the support to entrepreneurship by the SPRI Group, which develops and markets solutions based on Artificial Intelligence using eye-tracking techniques to facilitate human-machine interaction. From the beginning it has focused its activity in the assistance world, becoming an international reference in AAC for people with motor limitations and is currently the eye-tracking company of reference in the Spanish-speaking world. It is in the process of expansion at a growth rate of more than two digits in the last 4 years. Today it markets its products and services in more than 30 countries in Europe, USA and Latin America through more than 60 distributors and enjoys a network of international partners such as Samsung, Microsoft, Apple or MIT.
Currently more than 4 thousand people around the world use IRISBOND technology to communicate thanks to the 3rd generation of its eye-tracking system, the first and only cross-platform device in the world capable of running on both Windows and iOS. Their exceptional product development led them to earn Apple's Mfi certification in April 2022, something that only 2 companies in the world can boast.
The goal of the funds will be to continue the company's expansion in the United States, improve competitiveness in Augmentative and Alternative Communication (AAC) as well as all improvements, testing and certification in the clinical/hospital setting. For more than a year it has been exploring a new business unit in the healthcare area for the early diagnosis of neurodegenerative diseases through the study of gaze.
"The new round of investment seeks to strengthen IRISBOND's international position in the area of alternative communication, establishing a commercial office in Boston, and consolidating its leading position in the Spanish market, as well as continuing with its constant commitment to technological innovation," says Eduardo Jauregui, CEO and co-founder of the company.
Support from investors and the Basque GovernmentThe different investors that have joined this operation and have contributed a total of 2 million euros, emphasize that "IRISBOND is a company in the process of expansion at a growth rate of more than double digits in the last 4 years. With a proprietary and disruptive technology, it has validated its product and business in a mature market and is opening new business opportunities in areas of great expansion, such as healthcare and, more specifically, early diagnosis and rehabilitation. With a clear vocation for growth and international expansion, and at the same time a marked social impact. Therefore, a company that provides great value to the shareholder in terms of profitability but also corporate responsibility".
The other part corresponds to the Hazitek Singular Estratégico program, a program promoted by the Basque Government for industrial research in projects of a strategic nature in areas such as smart industry or personalized health. In this case, the program finances the development of a project of more than 2.5 M€ for the next three years. A firm commitment to IRISBOND's technological development in the field of health.
The support of the Hazitek Strategic Singular program will allow the development over the coming years of algorithms and solutions that will bring to market a non-invasive and innovative solution based on the behavior of the gaze for the early detection of neurodegenerative diseases.
"It has been demonstrated that gaze can be a biomarker for early identification of severe neurodegenerative diseases. IRISBOND has developed a pre-clinical research together with the Hospital Universitario Donostia and Biogipuzkoa that relates gaze behavior to Mild Cognitive Impairment (MCI), which is the prelude to more aggressive diseases such as Dementia or Alzheimer's disease", reveals Jauregui.
