Aifloo, a Stockholm, Sweden-based maker of a smart wristband for the elderly, completed a €5.1m Series A funding round.
EQT Ventures made the investment. In conjunction with the funding, Henrik Landgren, Analytics Partner at EQT Ventures, will be joining the Aifloo Board.
The company intends to use the funds to advance its AI technology.
Led by Michael Collaros, CEO, Aifloo provides a motion sensitive wristband that alerts people if something happens, a cloud server that secures a continuous connection, and a dashboard where the information is shown (on mobile phone, tablet or computer).
The e-health system, based on medical artificial intelligence that respects privacy, was developed in close collaboration with elderly in need of security, their relatives and caregivers.