Tucuvi Obtains 5.5 Million from Europe for its Telemedicine Platform

Tucuvi receives an economic boost to continue growing. The Spanish telemedicine company has received €5.5 million from the European Commission (EC) in the framework of the EIC Accelerator, as confirmed by Tucuvi.

Of the €5.5 million, €2.5 million are in the form of a non-repayable grant and €3 million of investment through the EIC Fund, which will strengthen the company’s commercial activity.

Tucuvi is a virtual assistant based on artificial intelligence (AI) and voice technology created in 2019. Through calls to the users’ home landline or cell phone, it accompanies and monitors them (mainly elderly patients), achieving continuous care at home.

The purpose of the virtual assistant’s calls is to monitor the different illnesses of its users. Examples include: reminding them to take their medication or follow treatment guidelines, performing cognitive stimulation exercises, monitoring symptoms of heart failure and other pathologies, evaluating caregiver satisfaction, and detecting basic needs.

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Tucuvi has monitored more than 17,000 patients and has worked on more than eight different pathologies

The founders of Tucuvi are María Gónzalez and Marcos Rubio, two biomedical engineers. González had the idea for the start-up when she was working at Medtronic, a US multinational specializing in the medtech sector.

In this environment, she realized that much of the innovation in continuous monitoring was created for young people, but solutions oriented to the elderly population were still obsolete.

The founder of Tucuvi decided to create a solution that would ensure that all seniors could also enjoy continuous health monitoring from their own homes and benefit from technology just like everyone else.

The company’s founders started working with wearables, synchronizing smartwatches, and taking measurements. Then, they investigated the world of voice through smart speakers, until they arrived at what Tucuvi really is today, conversational AI through phone calls.

Tucuvi has monitored more than 17,000 patients and has worked on more than eight different pathologies. The startup’s business model is that of a B2B2C. Customers pay a monthly fee, ranging from €450 to €16,000, depending on the number of users to be served, the module contracted (a cognitive estimation module is more expensive than a symptom module), and the recurrence of calls (daily, weekly or monthly). The company mainly targets home care and elderly care companies.

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(Featured image by Tumisu via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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