Sensor-based wrist band for elders closes $6.2M Series A
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 medical A.I (artificial intelligence) algorithms that learn a user’s behavior over time. The wrist band continuously sends out signals showing that it’s working properly. Care givers and nurses can track things like if the patient/elder has taken breakfast, woken-up or other vital signals that show a 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. It seems that activity and behavior monitoring is a use case that’s gaining traction both for personal/elderly care and enterprise workforce management. A leading machinery manufacturer CAT launched a smart-band that monitors worker fatigue. It is branded as a cloud-connected wearable sleep monitor.