Altoida Secures $6.3M Series A Funding to Expand Global Reach of Its AI-Powered Digital Biomarker Platform for Early Alzheimer's Detection

Recently, VCBeat (WeChat official account: vcbeat) learned that Altoida, a medical technology company developing a platform for early Alzheimer’s disease biomarkers, has completed a $6.3 million Series A financing round. The round was led by M Ventures, with participation from Gray Sky Venture Partners, VI Partners AG, Alpana Ventures, and FYRFLY Venture Partners. The funds will be used to further expand Altoida’s global operations.

Altoida possesses a digital platform that leverages artificial intelligence and machine learning to help predict Alzheimer’s disease. This platform enhances physicians’ monitoring of brain health, thereby facilitating improved treatment of Alzheimer’s disease. The platform provided by Altoida serves as an auxiliary tool for assessing memory function in users aged 55 to 95.

For years, physicians, researchers, and pharmaceutical companies have been searching for biomarkers of early-stage Alzheimer’s disease, aiming to predict its onset and thereby develop early intervention strategies. Altoida’s digital biomarker platform leverages smartphones and tablets, augmented by accelerometers, gyroscopes, and touchscreen sensors, to collect data related to cognitive brain function, helping to identify biomarkers of early-stage Alzheimer’s disease.

Altoida’s product has received FDA approval. The product requires users to undergo three tests that assess spatial memory, prospective memory, and executive function, respectively. The spatial memory test requires users to employ VR to locate hidden objects within a virtual environment. The prospective memory test requires users to learn specific actions in VR. The executive function test requires users to follow a dynamic rhythm, tap speaker icons, and distinguish between high and low pitches.

To date, the efficacy of Altoida’s products has been validated by more than 12 peer-reviewed journal publications and over 200 independent studies. Altoida’s products are being promoted and utilized in clinics across the United States, Europe, and Brazil.

Dr. Richard Fischer, Founder and CEO of Altoida, stated, “If older adults can be diagnosed with Alzheimer’s disease in its early stages, they can receive more effective treatment. Currently, only 16% of older adults in the United States undergo regular assessments for Alzheimer’s disease. The assessment methods currently in widespread use are outdated and costly. Altoida’s diagnostic approach is based on AI-driven clinical evaluation, leveraging collected digital biomarkers to predict early-stage Alzheimer’s disease. Our product enables broader access to early detection of Alzheimer’s disease worldwide, thereby reducing overall treatment costs.”

According to Altoida’s internal statistics, U.S. spending on Alzheimer’s disease treatment reached $290 billion in 2019 alone and is projected to rise further to $1.1 trillion by 2050. Studies indicate that early diagnosis before irreversible brain damage caused by Alzheimer’s disease occurs can effectively reduce treatment costs.

A subsidiary of Germany’s Merck KGaA, headquartered in Amsterdam, the Netherlands, focusing on investments in healthcare, life sciences, and performance materials.

Gray Sky Venture Partners is a venture capital firm headquartered in Bellevue, Washington, USA, specializing in investments in the healthcare and medical technology sectors.

VI Partners AG is a private equity and venture capital firm specializing in early-stage investments. VI Partners AG primarily invests in the fields of healthcare, life sciences, information technology, and materials science.

Alpana Ventures provides early-stage venture capital to technology startups in Switzerland and Europe. Alpana Ventures’ unique investment model connects startups with Silicon Valley’s technology and Asian markets, supporting them in product development and market entry.

FYRFLY Venture Partners is a venture capital firm focused on investing in data technology companies.

(Compiled by Zhang Yujie)