More than half of Americans wear corrective glasses or contact lenses, and while there are plenty of low-cost and premium frames available online and in stores, consumers need an up-to-date eyeglass prescription before they can make a purchase.
That means before you can get a prescription, you have to get an eye exam by an optometrist — but because of a national shortage of ophthalmologists, it can take weeks to get an appointment, especially in rural areas.
Eyebot, a startup that launched in secret on Thursday, aims to cut the time it takes to get an eye test without the direct intervention of an optometrist to about 90 seconds. The Boston-based company plans to roll out self-service eye-testing terminals in shopping centers, grocery stores and pharmacies across New England starting in October.
People who want to get their eyes tested walk up to Eyebot's roughly 5-foot kiosk, press a button, and the company's computer vision technology automatically scans them and extracts a prescription for glasses or contact lenses. (Eyebot can't do initial contact lens fittings, but it can renew existing prescriptions.)
Matthias Hoffmann, founder and CEO of iBot, said he developed a similar technology a decade ago at iNettra, a startup that tested vision through smartphones. (iNettra went bankrupt a few years ago, according to Hoffmann, who was chief engineer at the company until 2015.)
“We realized that using a smartphone wasn't really the solution,” said Hoffman, who was a postdoctoral researcher in tomography at Harvard Medical School before joining Inetra. “What people want is a fully automated experience where they don't have to learn anything complicated or do anything. Our technology allows people to just stand in front of the unit.”
Prescriptions written by iBot are confirmed by a remote doctor within 24 hours, and consumers who want to buy glasses at a retail store have to pay $30 for the exam, but if they buy glasses from one of iBot's partner brands, the eye exam is free. (Hoffman says the technology is registered with the FDA.)
The company hopes that major eyewear brands will rent Eyebot kiosks and install them in their preferred retail locations. Once shoppers have completed the inspection, they can directly purchase the brand's eyeglasses using the kiosk's touchscreen or their smartphone. Eyebot plans to make revenue by partnering with these eyewear brands and taking a commission on each sale.
“Retailers are looking for new channels to reach their customers,” Hoffman said. “Now they have the opportunity to promote their brand in CVS, Walgreens, Stop & Shop, Kroger and on college campuses.”
Eyebot has close partnership deals with several large eyeglass and contact lens companies, Hoffman said. “It's a very profitable business model. There's a lot of demand for what we do.”
Hoffman said demand for investment in iBot's seed round was also strong. The company announced a $6 million funding round on Thursday led by AllyCorp and Ubiquiti Ventures, with participation from Sousa Ventures, Village Global, Baukunst, Ravelin and Space Cadet.
The funds will be used for regional expansion.