IDx secures $33 million in venture capital for eye diagnostic system

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Coralville-based IDx, which has developed an autonomous diagnostic system for detecting diabetic retinopathy, announced it has secured a $33 million venture capital infusion to accelerate market adoption and further develop diagnostic systems for its artificial intelligence platform. The financing was led by venture capital firm 8VC with participation from Optum Ventures, Alpha Edison and Heritage Provider Network. The company’s first diagnostic system, IDx-DR, is the only AI system cleared by the U.S. Food and Drug Administration to detect diabetic retinopathy without requiring a clinician to interpret the image or results.