CarePredict, an AI-driven digital health company that is on a mission to develop technologies that can provide high-quality senior care, announced that it has secured $9.5 million in Series A. The funding was led by Secocha Ventures, Las Olas Ventures, and Startup Health Ventures. This brings the firm’s total raised to $19.7 million, following a $4 million seed fund round in December 2017 and a grant from the National Science Foundation.
For an elderly, living alone carries a lot of risks. National Council on Aging estimates one in four Americans aged 65 and older falls each year, and every 19 minutes an older adult die from a fall. Illnesses such as, urinary tract infections (UTI) are also common among the elderly population. Additionally, mental illnesses such as, depression affect around 7 million older adults each year.
Satish Movva, a 30-year tech veteran and former IBM consultant decided to do something about it, so he founded CarePredict. This Fort Lauderdale, FL-based startup aims to boost the quality of life of the seniors with artificial intelligence-driven wearables. The startup claims its platform can surface actionable insights that predict a UTI up to 3.7 days ahead of clinical diagnosis and depression two weeks ahead of diagnosis. CarePredict also claims it has managed to reduce falls by 25 percent in senior communities, reports Venture Beat.
“With over 600 million people worldwide over the age of 65 years and a rapidly diminishing caregiving population, technology like ours is efficiently bridging the gap and ensuring that our loved ones get the constant, quality care they need and deserve,” Movva said in a statement. “Recognizing these challenges, our solution has been built to predict rather than detect through continuous observation and to do so with the least human effort.”
CarePredict’s premiere wearable product – Tempo – is a wrist-worn bracelet with a touch-button sensor and built-in microphone and speaker, along with sensors that detect activities of daily living (ADL).
Tempo uses sophisticated AI algorithms to sense ADLs such as eating, drinking, bathing, grooming, tooth-brushing, toilet use, walking, sitting, sleeping, and more and to communicate wirelessly with peel-and-stick beacons to pinpoint the rooms in which those activities are occurring.
CarePredict will showcase a consumer version of the Tempo at the CES 2019 in Las Vegas this January.
Our CEO Christian Stammel will attend CES 2019 and also be part of the conference track Wearable Tech Summit on January 9. The perfect sneak peek on what will be awaiting you at the WT | Wearable Technologies Conference EUROPE 2019 will give you a deep dive into the current momentum of the wearable market and how you can turn the previous hype into mass volume. Our 33rd edition of the WT Conference will be bigger than ever with more than 1.500 m2 floor space and over 80.000 visitors from WT and ISPO integrated into the brand-new innovation hall C6 of the Munich Tradeshow. More than 60 high-level speakers coming from Bayer, BMW, Casio, Gore, Microsoft, and STMicroelectronics will give you latest insights in their applications and digitalization strategies via IoT and WT solutions and drive your business development. In the afternoon of the first day, you will get also the chance to be connected to 30 future stars of our ecosystem via our annual IOT/WT INNOVATION WORLD CUP® pitch and award ceremony.
Register here https://www.wearable-technologies.eu/ with 20% discount by using the code WT20