Altoida’s platform, which has already been cleared by the FDA, has patients use a tablet or smartphone to hide and seek virtual objects around their physical space. The tool then uses machine learning to analyze a patient’s functional and cognitive performance in the three VR tests.
Studies have shown that the Altoida platform is able to detect biomarkers indicative of Alzheimer’s disease with up to 94 percent accuracy, six to 10 years before symptoms present. The software has been validated in multiple peer-reviewed publications and more than 200 independent studies and is already in use in clinics in the U.S., Brazil and Europe.
The Series A round was led by M Ventures, with additional financing from Grey Sky Venture Partners, VI Partners AG, Alpana Ventures and FYRFLY Venture Partners. The funding will be used to expand Altoida’s global reach, focusing first on further commercialization in the U.S. and E.U.
Editor’s note: This article was updated May 30 at 4:35 p.m. to clarify that Altoida uses augmented reality technology, rather than virtual reality.
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