IRISBOND Company Profile

Background

Founded in 2013 and headquartered in Donostia-San Sebastián, Spain, IRISBOND specializes in eye-tracking technology. The company's mission is to develop innovative solutions that enhance human-machine interaction, particularly for individuals with physical and motor disabilities. By leveraging artificial intelligence (AI) and advanced software algorithms, IRISBOND translates eye movements into precise commands, facilitating communication and interaction without the need for physical contact. This commitment to inclusivity and technological advancement positions IRISBOND as a significant player in the assistive technology industry.

Key Strategic Focus

IRISBOND's strategic objectives center on expanding the applications of its eye-tracking technology across various sectors, including healthcare, education, and consumer electronics. The company specializes in Augmentative and Alternative Communication (AAC) devices, enabling users with disabilities to communicate effectively. Key technologies include AI-driven software algorithms and multi-platform compatibility, notably with Windows and iPadOS. IRISBOND targets markets that benefit from touchless interaction solutions, such as individuals with motor impairments, healthcare providers, and industries seeking hands-free control systems.

Financials and Funding

In September 2023, IRISBOND secured €2 million in funding from investors, including Sociedad de Capital Riesgo, SGEIC, of the SPRI Group. Additionally, the company received support from the Hazitek Singular Estratégico program, promoted by the Basque Government, financing a project worth over €2.5 million over the next three years. These funds are allocated to support the company's expansion into the United States, enhance competitiveness in AAC, and advance developments in the healthcare sector, particularly for early diagnosis of neurodegenerative diseases through eye-tracking technology.

Pipeline Development

IRISBOND's flagship product, Hiru, is the world's first multi-platform eye-tracking device compatible with both Windows and iPadOS. Launched in 2020, Hiru has received Apple's Made for iPad certification, underscoring its seamless integration with iPad devices. The company is also exploring applications of its technology in healthcare, collaborating with institutions like the University Hospital of San Sebastián to research the use of eye-tracking for monitoring eye movements that may indicate neurological and ophthalmological diseases.

Technological Platform and Innovation

IRISBOND distinguishes itself through its proprietary AI-based software algorithms that capture and interpret eye movements, enabling precise control of digital interfaces. The company's technological innovations include:

Hiru Eye-Tracking Device: A multi-platform device compatible with Windows and iPadOS, facilitating hands-free interaction.

AI-Driven Software: Advanced algorithms that translate eye movements into commands, enhancing user experience and accessibility.

Healthcare Applications: Research into using eye-tracking as a biomarker for early detection of neurodegenerative diseases.

These innovations position IRISBOND at the forefront of assistive technology and human-machine interaction.

Leadership Team

IRISBOND's leadership comprises experienced professionals dedicated to advancing eye-tracking technology:

Eduardo Jáuregui: Founder and CEO, with over 18 years of experience in engineering and industry. He co-founded IRISBOND in collaboration with the VICOMTECH-IK4 research center, focusing on developing accessible technological solutions.

O. B.: Chief Technology Officer, overseeing the technological development and innovation strategies of the company.

E. S.: Head of Global Sales, responsible for expanding IRISBOND's market presence and driving sales initiatives.

Leadership Changes

In 2022, IRISBOND appointed Mark Maragni to lead its expansion into the United States, reflecting the company's commitment to international growth and market diversification.

Competitor Profile

Market Insights and Dynamics

The eye-tracking market is experiencing significant growth, projected to expand from $368 million in 2020 to $1.098 billion by 2025, with a compound annual growth rate (CAGR) of 24.5%. This growth is driven by increasing demand in healthcare and marketing sectors for personalized advertisements and behavior monitoring.

Competitor Analysis

IRISBOND operates in a competitive landscape with several notable companies:

Tobii AB: A leading eye-tracking technology company offering solutions across various sectors, including healthcare, gaming, and automotive.

EyeTech Digital Systems: Specializes in eye-tracking hardware and software for assistive communication and research applications.

Kap Code: Engages in detecting health signals on social networks and developing tools for managing chronic diseases.

SilverVue: Provides healthcare software solutions, focusing on patient engagement and care coordination.

Well Advised: Delivers analysis and online recommendations for users' Medicare plans.

Myelin Foundry: Develops AI algorithms on video, voice, and sensor data for edge devices.

These competitors offer a range of technologies and services that intersect with IRISBOND's focus areas, contributing to a dynamic and evolving market.

Strategic Collaborations and Partnerships

IRISBOND has established significant collaborations to enhance its market position and innovation capacity:

Apple: Achieved Made for iPad certification for Hiru, ensuring seamless integration with iPad devices.

University Hospital of San Sebastián: Collaborating on research to use eye-tracking technology for monitoring eye movements that may indicate neurological and ophthalmological diseases.