Aifloo today announces the completion of its latest funding round of €5.1 million. The A round was secured from the EQT Ventures fund (“EQT Ventures”) and will allow Aifloo to advance its AI technology that enables elderly members of society to live more independently.
Michael Collaros, CEO and co-founder of Aifloo, said: “When we set out to create Aifloo, we wanted to improve the quality of life for the elderly and provide peace of mind for relatives and caregivers. Using cutting-edge AI, we’ve developed a system that learns and analyses human behaviours in order to increase people’s safety and help caregivers provide help where it’s needed the most. With the wealth of data available, our service is set to continually improve and evolve. EQT Ventures is the ideal partner to support our growth thanks to the team’s in-depth knowledge of AI, scaling of businesses and the entrepreneurial journey. With this investment and support, we’re looking forward to growing the team and developing our product further.”
Henrik Landgren, Analytics Partner at EQT Ventures, who will be joining the Aifloo Board, said: “EQT Ventures was incredibly impressed the stellar team of Aifloo and the innovative product that has been developed. By combining vast amounts of data and modern AI technology, Aifloo’s service is having a big impact on people’s lives. As well as having a long history in the IoT and healthcare space, Felix, Michael and Anders truly care about the overall customer experience. We’re looking forward to supporting the company on the next stage of its journey.”