Q&A: Eyes 4 Lives CEO, Parham Javaherian
OC Startups Now will periodically run Q&A’s with interesting entrepreneurs, investors and other key players in the OC startup/innovation ecosystem, in their own words. This Q&A is with Parham Javaherian, the CEO of Eyes 4 Lives, which created an optical device to monitor an individual’s screen interaction to reduce myopia and digital eye strain.
OCSN: What is your overall strategy for leading the company forward?
Javaherian: The main strategies fall into the following categories:
a) The initial product (Dr.i-Coach) is an external sensor that sits on top of your computer/laptop, but the next generation products will go towards smaller size and eventually become an internal feature of the device (laptop, desktop, cell phone, etc.)
(The Dr. i-Coach is a patented sensor and software package that alerts users of various factors and will coach them on developing and maintaining proper sitting and screen use habits.)
b) The next-gen products will have additional new features, i.e. a sensor to measure the amount of blue light from a device’s screen
a) Selling to corporate health and wellness programs. The $1 billion-plus industry of corporate wellness is a growing one where more and more organization are moving towards investing in the well-being of their employees, which includes healthy postures and ergonomic habits of computer users.
Our product provides real-time feedback to the employee (and employer through their back-end dashboard) to improve their eye care and healthy postures.
b) Selling through healthcare provider networks. This will include contracting ophthalmologists, optometrists, physical therapists and chiropractors to resell the product to their patients.
A constant challenge for these providers has been educating and controlling their patients’ posture and behavior while using the computer.
c) Direct-to-consumer sales through online stores
d) The ultimate selling strategy is to license our patented technology and algorithms to tech companies that want to implement it within their devices (e.g. Samsung, Apple, etc.) or bundle it on their products (e.g. Lenovo computers)
a) We want to own the online educational space on digital eye strain. It’s a critical issue that society is under-educated about
b) Outreach and partnering with corporate wellness officers and vendors
c) Outreach and partnering with the necessary healthcare providers
OCSN: What is your strategy for the upcoming Series A raise, with a goal of $4 million?
Javaherian: We will be comfortable with equity and/or convertible notes.
We are considering both “institutional money” from firms that can add strategic synergies, as well as individuals who want to be a part of a disruptive technology and product.
The Series A raise will be used for completing clinical studies and R&D for the next generation of products, as well as sales and marketing.
OCSN: When do you expect to open this round?
Javaherian: Our goal is to open this round by the end of the year.
OCSN: Can you disclose any of your clients or distributors?
Javaherian: Our product has been completed and manufactured just a few months ago. Since then, we have got much attraction from private companies, Fortune 500 corporations and state/federal agencies. We are under NDA’s with many of them, but I can disclose our exclusive distributor in Canada, which we have recently signed with, Labtician Ophthalmics.
OCSN: Who is your competition in the corporate wellness area?
Javaherian: There is absolutely no competition that tackles the wellness and ergonomic from an “eyecare” point of view.
But our competition can be other solutions, such as ergonomic furniture. Though our product could even complement the competition, as we are the only solution that provides real-time feedback to the user to improve their posture habits.
OCSN: Anything else you’d like to add?
Javaherian: We are the only product that monitors and provides real-time feedback on these five risk factors: blink rate, distance from the screen, sitting height, ambient lighting and screen time.
We’re also planning to complete a clinical study to make the case for insurance companies to reimburse patients for the purchase of the product.