CarePredict, a Florida-based health tech startup, has raised $9.5 million in funding for its platform that uses machine-learning-driven wearables to monitor the health and improve the quality of life for senior citizens, according to a report by VentureBeat.
The Series A financing round led by Secocha Ventures, Las Olas Ventures and Startup Health Ventures. CarePredict has raised a total of $19.7 million since May 2015, according to the company’s profile on Crunchbase.
The company’s technology is a part of a recent trend of AI-powered devices that monitor the health of seniors. Recently, AI-powered robotic assistants and animals have been added to the list of devices helping with senior care.
CarePredict’s wearable technology can predict a urinary tract infection 3.7 days ahead of a clinical diagnosis and depression two weeks ahead of a diagnosis, according to the report. The company also claims its technology has been able to reduce falls 25 percent in senior living communities.
“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,” CarePredict founder Satish Movva said in the report. “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.”
To read the full report, click the link below.