We applied for 3 million SEK and raised 3.5 million SEK in capital and received 0.5 million SEK in support from Vinnova and an innovation loan from Almi of 0.5 million; so a total of 4.5 million SEK. We have brought in investors with very relevant expertise for the company and who share our view on how we want to develop and build the company over time, says Peter Carlsson, CEO and co-founder.
Fantastic! Tell us about the idea behind imvi labs and your journey so far?
The idea behind imvi came about to help a former girlfriend of Michael's who had something called vergen insufficiency, an eye coordination problem that makes it difficult to read for long periods of time as the brain is overloaded by this vision problem. In collaboration with Karolinska Institutet, a very effective method and solution was developed to train the brain's eye coordination, which was also patented in the EU and the USA.
Several studies were conducted and then it was discovered, somewhat unexpectedly, that this training also had a major impact on reading speed in very broad groups, up to 50–80% of the entire population gains improved reading skills. It was also discovered that people with dyslexia and ADHD can improve their reading skills by training and improving their eye coordination. Over 2,000 people have trained with our desktop solution with a 3D screen, where 99% of those who have completed the training have improved eye coordination. We are now developing a solution with an app for mobile phones together with VR glasses to more effectively train vision and scale up the business. For the training to be successful, it must be carried out, just like with any other training. And to make the training fun, you will, for example, be able to watch YouTube while you train.
What will happen in the next 12–24 months now that you have received investment and are going to market?
We are now sending a first version of the new app to Karolinska Institutet to measure the optical effect.
