Sensor-based wrist band for elders closes $6.2M Series A
Sep 10 2017
Aifloo, a smart care company providing sensor-based e-health system for elders raised a $6.2M Series A round led by EQT Ventures.
Aifloo’s solution consists of a motion-sensitive wristband, cloud server, and mobile/desktop app where users can access the alerts, trends, and deviations, and patient’s indoor position.
Its key difference from other systems is its algorithms that learn a user’s behavior over time. The wristband continuously sends out signals showing that it’s working properly. Caregivers and nurses can track things like if the patient/elder has taken breakfast, woken-up or other vital signals that demonstrate the patient is acting within normal behavior.
Users also have a panic button that they can press in case of an emergency. This sends a signal to the care giver prompting for help.
Apart from the recent round of funding, Aifloo previously raised a seed round and venture investment. Its total equity funding stands at $7.5M in three rounds.
+ Aifloo®Band has one year battery life and automatically informs a user when it is time to change.
+ The startup has won many awards in the past two years including Best IoT Startup” in Nordic Startup Awards, Swedish Embedded Award, and finalist EIT Digital Idea challenge 2015.
+ The company is hiring for backend, frontend, firmware, and electronic developers. It plans to use the funding proceeds for product development and team expansion.