Intuition Robotics, a Ramat Gan, Israel-based developer of an AI powered proactive care companion for older adults, secured a first closing of a new funding round amounting to $25M.
The round, which included $20M in venture capital and $5M in venture debt, was led by Woven Capital, the growth fund of Toyota, with participation from Toyota Ventures, OurCrowd, Western Technology Investment, and additional investors. Nicole LeBlanc, a partner at Woven Capital, is joining Intuition’s board of directors.
The company intends to use the funds to expand its business reach and deepen integrations into the healthcare system.
Led by Dor Skuler, CEO and Co-founder, Intuition Robotics has pioneered ElliQ, an AI companion designed to enhance the lives of older adults by combating loneliness and promoting healthy and independent living. ElliQ provides companionship and support for older adults through daily health check-ins, cognitive and physical activities, connection to family and friends, and more using an intuitive interface.
The company has initiated programs to distribute ElliQ at no cost to end users with the New York StateOffice for the Aging, the Area Agency on Aging of Broward County, the Olympic Area Agency on Aging, and California’sAgency on Aging in Area 4. In addition, the company signed its first agreement with a Managed Care Organization focusing on Medicare beneficiaries.
FinSMEs
29/08/2023