Cardiff tech firm helping the elderly stay safe at home secures equity boost
Summary
A Cardiff tech venture behind a AI-powered platform that is helping to keep the elderly healthy, independent and safe, has been boosted with a six-figure equity investment round.Tendertech, founded by Afroditi Konidari and Rui Zhang in 2017, has been backed in a \xa3440,000 investment round led by the Development Bank of Wales with \xa3250,000.The founders, which have developed the companys pioneering Hestia technology, are both remote carers and share a background in digital health, connected care and smart buildings. As a privacy first, connected-care platform, wall-mounted Hestia sensors capture heat sensing data and record temperatures, daily movements, rest patterns and any falls. The current situation calls for innovative AI solutions, like Hestia, to address the urgent need for caregivers and fulfil the care sectors economic and job creation potential,Chief technology officer Mr Zhang said: We all have ageing parents and grandparents and are keenly aware that when you cant be with someone all of the time, you are bound to miss early symptoms of health deterioration and frailty. Since Tendertecs inception, weve detected over 5,000 fall-related incidents and early symptoms of frailty, enabling those with complex care needs to receive early intervention and maintain their independence.Were committed to developing an infrastructure where elders and their caregivers can thrive together so were grateful to the Development Bank of Wales and our business angel investors for their continued support.Linzi Plant, an assistant investment executive with the development bank, said: Both Afroditi and Rui have a passion for tech-enabled care along with expertise in machine learning and user-centred design. We are hugely excited to see how their innovative solution measures against its enormous potential.The development bank made its investment frm its\xa320m Wales Technology Seed Fund II that is financed by the Welsh Government.