Diabetic Retinopathy (DR) is a severe complication that may lead to retinal vascular damage and is one of the leading causes of vision impairment and blindness. DR broadly is classified into two stages - non-proliferative (NPDR), where there are almost no symptoms, except a few microaneurysms, and proliferative (PDR) involving a huge number of microaneurysms and hemorrhages, soft and hard exudates, neo-vascularization, macular ischemia or a combination of these, making it easier to detect. More specifically, DR is usually classified into five levels, labeled 0-4, from 0 indicating no DR to 4 which is most severe. This paper firstly presents a discussion on the risk factors of the disease, then surveys the recent literature on the topic followed by examining certain techniques which were found to be highly effective in improving the prognosis accuracy. Finally, a convolutional neural network model is proposed to detect all the stages of DR on a low-memory edge microcontroller. The model has a size of just 5.9 MB, accuracy and F1 score both of 94% and an inference speed of about 20 frames per second.