Service Robotics Limited, a health and wellbeing business focusing on supporting the vulnerable and elderly through innovative technology, has raised £600k in its latest funding round.
The funding includes a £300k equity investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF) and investment from Britbots and the Enterprise 100 Angel Investment Club.
The company has created an intelligent companion robot that will assist the elderly via patient-centred interactions. GenieConnect helps users by providing companionship and support by offering services such as prescription management, medication reminders, daily welfare checks, video calls and music entertainment.
The Bristol-based company launched its first pilot project in Cornwall in August last year, and won its first contract from the NHS Small Business Research Initiative six months ago. The latest funding will be used to further develop the business, expand the pilot programme and establish a Cornwall project office in Bude.
The £40 million Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25k to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) and is operated by appointed fund managers The FSE Group.