Birdie Care Secures €7 Million Series A Funding to Advance Product Development and Expand Operations

VCBeat (WeChat Official Account: vcbeat) has learned that on November 8, 2018, London time, innovative care company Birdie Care completed a €7 million Series A financing round, with AXA Group as the investor. The company intends to use these funds to strengthen product research and development, finalize its product offerings, expand its sales team, grow its business in the UK market, and launch new operations in another region.

Following the completion of this funding round, Birdie Care has raised a total of €9.5 million in financing.

Image source: Birdie Care official website

As the aging population trend intensifies worldwide, the market for elderly care continues to expand.Irdie Care is a London-based startup specializing in elderly care. The company is building a home care platform that uses apps and connected devices to monitor the health status of seniors, thereby enabling them to live independently in their own homes.

Through its app and connected devices, Birdie Care optimizes care plans in three ways: digital management and reporting of care content; enabling caregivers to communicate with family physicians and other healthcare providers while sharing elderly patients’ care information; and allowing individuals to monitor their family members’ health status around the clock.

Leveraging data collected by nursing professionals and remote sensors, Birdie Care is also developing health analytics technology. This technology tracks the health status of older adults, predicts potential deterioration in their condition, and issues timely alerts to the appropriate individuals.

Approximately 2 million elderly people in the UK require home care, a figure projected to double within the next decade. Although home care is 40% less expensive than hospital care, its services are hindered by underfunding, difficulties in recruiting caregivers, and high staff turnover.

Birdie Care CEO Max Parmentier commented, “We believe the future of elder care lies in home-based care. The cost of nursing homes is prohibitively expensive for many families, and staff within these facilities often lack professional caregiving expertise.”Rising budget cuts mean that more caregivers are unable to continue working; this is only the beginning, as data show that the number of elderly people requiring care will triple over the next two decades. This issue is not confined to the United Kingdom; we have identified similar challenges across Europe, Asia, and the Americas. In other words, we are currently facing a global social crisis, one that will become a societala ticking time bomb. We need to address this social issue. At Birdie Care, we do not accept the status quo. We are the world’s first holistic platform that builds the right technology and service models to solve these problems.”

Birdie Care was founded in 2017. The company has developed a care technology platform designed by nursing professionals and tech entrepreneurs, which enables care professionals to provide better and safer care for the elderly in their homes.