Medical alert systems or personal emergency response systems are a quick way for the elderly and those with health issues to receive help when it’s most urgently required. While the first medical alert systems made their debut in the 1970s, the introduction of AI and IoT combined with an aging baby boomer population will lead this market to expand to $17B by 2027. Aloe Care Health is a modern medical alert system that offers live, hand-free communications with family and emergency response teams that has integrated motion, temperature, and air quality sensors. The company’s smart hub is voice-activated and operates on AT&T’s 4G networks without the need for WiFi, connecting concerned family members in seconds without the need for intrusive cameras. Aloe Care Health provides the company’s proprietary hardware for an initial fee that starts at $149.99 for a hub and care button and the recurring monitoring and communication service starts at $29.99 per month. AlleyWatch caught up with Cofounder and CEO Ray Spoljaric to learn more about the inspiration for the business, the company’s future plans, latest round of funding from investors that include City Light, the Laerdal Million Lives Fund, Springbank, and Drumbeat Ventures.
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 5/8/21 featuring funding details for HoneyBook, Genies, Bitski, and twenty-five other rounds that you must know about.