Intuition Robotics Receives $25 Million New Investment

Intuition Robotics announced the closing of a new $25 million financing round. The round was led by Toyota Ventures, OurCrowd, Western Technology Investment and additional investors. It was also led by Woven Capital, Toyota's growth fund. It is understood the money will help meet demand in ageing institutions and healthcare organisations for the company's AI care companion, ElliQ.

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Intuition Robotics and ElliQ

The US health system is looking for solutions to address the ageing population. At the same time, legislation has been introduced to create a national policy to combat loneliness and promote social connections. Today, loneliness is considered an epidemic that can seriously damage health. What do we know about Intuition Robotics' ElliQ? It is an artificial intelligence companion designed to improve the lives of the elderly by combating loneliness and promoting healthy and independent lives. Using a simple and intuitive interface, ElliQ provides companionship and support to older adults through daily health checks, cognitive and physical activities, connection with family and friends, and more.

The ElliQ helper tool is already available in New York State. Users also interacted with ElliQ up to 30 times a day and showed results showing that 95 per cent of its users reduced loneliness. Intuition Robotics has initiated programmes with the New York State Office for the Aging, the Broward County Area Agency on Aging, the Olympic Area Agency on Aging and the Agency on Aging in California's Region 4 to distribute ElliQ to end users free of charge. Intuition Robotics was founded in 2016. It develops tools to help members of the aging population live healthier and more independent lives. Its companion tool, ElliQ, helps its users stay engaged and informed while reducing feelings of loneliness and social isolation. Its investors are Woven Capital, Toyota Ventures, Samsung NEXT, iRobot, OurCrowd, Terra Ventures, Venture Capital firms from California, Israel, Japan and Asia.