Company info
Name: Invento Robotics
Location: Plano, Texas, USA
Founded Date: 28/11/2020
Founders: Balaji Viswanathan , Bharath Kumar Dandu , Arvind Nagaraj , Mahalakshmi Radhakrushnun
Website: https://invento.health/
Sector: Robotics, Age tech, DeepTech, Healthcare, Wellbeing, Social Care
Market Presence: USA
N. of Employees: 21
Revenue: MRR- $7400, ARR- 88800
Contact Email: contact@equitymatch.co
KPI
Number of interactions per month - 20000+, Smiles captured - 500+, Average emergency response time - 3 minutes, Number of falls detected per month - 10+
Round info
Investment Round: Late Seed
Raise Amount: USD 1,000,000
Amount raised previous rounds: USD 1,500,000
Pre Money Valuation: USD 15,000,000
Closing date: 31/03/2023
Invento Robotics
Elevator Pitch: We make robots for seniors that extend the quality and length of their lives. We are a hybrid solution of robots plus remote caregivers to provide safety and companionship-related services.
Summary: Over 3 million US seniors suffer from cognitive issues and live alone. And this number is rapidly growing. A shortage of 1.3 million caregivers has increased the cost of care to $5500 per month. How do we provide affordable care to this population?
We deliver a hybrid of robots and remote caregivers in the senior’s home to provide an avatar for nurses 24/7. Our hybrid solution reduces the cost of at-home cognitive care by up to 90%. We are also a platform for third-party age tech services.
Features include – Fall detection & prevention, companionship tools, physiotherapy and tracking, medicine reminders, personalised content, games, and connections with loved ones.
For the next 2 years, we plan to go through both a B2B2C (through senior homes) and a B2C (home care) business model to reach seniors. Our robots cost $3800 and there is a monthly subscription of $380 for the software and remote nurses.