Smart Vision Labs Raises $6.1M in Series A Funding Round Led by Techstars Ventures

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NEW YORK—Smart Vision Labs, the developer of a smartphone-based autorefractor, the SVOne, has closed a $6.1 million Series A funding round led by Techstars Ventures. Other investors in the round include Heritage Group, Connectivity Capital and Red Sea Ventures.

Smart Vision Labs said it will use the Series A funding to further scale production of the SVOne, develop additional products and services, and expand the team. “Smart Vision Labs is building cutting edge technology to enable methods of care that simply weren’t possible before,” remarked company co-founder and COO Marc Albanese.

“The SVOne technology is quite advanced and is destined to play an important role in both screenings and autorefraction. The size and cost of the device represent important advancements to both accessibility and cost effectiveness,” said Reade Fahs, CEO of National Vision, Inc., one of the largest optical retailers in the U.S. and a seed stage investor in Smart Vision Labs.

To date, the SVOne has been used to provide vision exams in clinics and mobile screenings in 21 different countries, according to Smart Vision Labs. The company is working with health care professionals to enable affordable, convenient, and high quality access to vision care both domestically and abroad. It recently launched a website with a locator tool that enables consumers to find doctors throughout the U.S. who perform eye exams with the SVOne.

Click here to see a video about Smart Vision Labs’ SVO that was presented at the Vision Monday’s 2015 Global Leadership Summit.