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SeniorDomo Opens its Capital to Invergy B Side and Archipelago Next

91% of the capital will be used for marketing the company, while the remaining 9% will be used to improve the services offered by SeniorDomo. SeniorDomo’s main product is a device in the form of a wristwatch that detects risk situations such as inactivity, abnormal pulse or falls in elderly people. In addition, work is being carried out on another of the services offered, the Luzía robot.

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SeniorDomo is getting investors’ attention. The telecare company has raised $406,000 (€350,000) from the funds Archipelago Next, Invergy B Side, and its social stock market, as explained by Ángel Puertas, CEO of the company.

Archipelago Next is a Canary Islands investment fund with extensive experience in digital and healthcare companies. Tickets for this fund can range from $58,000 to $232,000 (€50,000 to €200,000).

On the other hand, Invergy B Side is a fund of the Universitat Oberta de Catalunya (UOC), an institution where SeniorDomo was born at the end of 2018, and which invests in projects that emerged in this institution. In addition, three CEOs of Spanish multinational consulting firms, whose names have not been disclosed, have also entered the capital.

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SeniorDomo will invest 91% of the capital in the company’s marketing

91% of the capital will be used for marketing the company, while the remaining 9% will be used to improve the services offered by SeniorDomo. SeniorDomo’s main product is a device in the form of a wristwatch that detects risk situations such as inactivity, abnormal pulse or falls in elderly people. In addition, work is being carried out on another of the services offered, the Luzía robot. This technology is aimed at locating family members by telephone until the emergency is attended to.

SeniorDomo also plans to strengthen its new area of professional services, which currently accounts for 20% of its revenues. This division aims to supply caregiver and telecare companies. Currently, the startup has already reached agreements with companies in the sector such as Suara, and Serunion.

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In parallel, SeniorDomo has its sights set on marketing another telecare system and is developing the total monitoring of homes with the inclusion of a Covid-19 radar application. In addition, the company also has on the horizon to bring a “smart pillbox” to market in the coming months.

The company has already raised around $116,000 (€100,000) in a previous round with the aim of launching its platform

The company expects to have a turnover of $174,000 (€150,000) that year, although SeniorDomo claims to be able to double this amount by 2022. Currently, the company employs eight employees, which will be expanded in the coming months as a result of the closing of this round. Previously, the company already raised close to $116,000 (€100,000) with the aim of launching its platform.

The company was launched at the end of 2018 with the entrepreneurial team’s own funds to develop its platform. The startup also has the support of Hubbik, the UOC’s platform for boosting entrepreneurship, and is based in Barcelona’s 22@ district.

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(Featured image by Free-Photos via Pixabay)

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.