Altoida raises new capital

Altoida has raised US$6.3 million in a funding round. The Lucerne startup has developed an app for the early detection of patients who are at risk of Alzheimer’s disease.

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Image Credit: Marek Levák/Unsplash

For Alzheimer’s, it is important to diagnose the illness as early as possible, because the sooner treatment can begin, the better the outcome of care. Startup Altoida is developing an app that detects with up to 94 percent accuracy whether patients over the age of 62 will develop Alzheimer’s disease between six and ten years prior to the onset of symptoms.

The app is based on machine learning, artificial intelligence and augmented reality. Via the app, users conduct a cognitive test on their tablet or smartphone with an integrated game of hide-and-seek in augmented reality. This collects a range of diagnostic digital biomarkers for Alzheimer’s disease. Doctors then use these results to predict the potential risk.

Altoida has now impressed investors with its solution. According to a press release, the startup raised US$6.3 million in a Series A funding round. Investors include the corporate venture capital arm of Merck KGaA and the venture capital firms Grey Sky Venture PartnersVI Partners AGAlpana Ventures and FYRFLY Venture Partners. Altoida will use the funds to advance the commercialization activities for its product in the USA and Europe.

Altoida is a spin-off from the University of Zurich. Its headquarters are in Lucerne. The startup also has branches in Houston and San Diego.

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