The Brest-based company OSO-AI raised nearly 10 million euros to fund the development of its ‘augmented ear’ device, which alerts carers when a worrying noise is detected in a patient’s room.
Read the original article from ‘L’usine Digitale’ here.
The Brest-based company OSO-AI has successfully raised nearly 10 million euros to fund the development of its ‘augmented ear’ technology, which alerts carers when a worrying noise is detected in a patient’s room. Through this latest funding round, the Brest-based start-up aims to accelerate the commercial roll-out of its solution, both in France and abroad.
To meet strong demand, the company has announced a fundraising round of nearly €10 million from existing shareholders advised by Joffe & Associés – namely Innocavom, Novinvest Partners and Breizh-up – joined by Cemag Invest Partners. This round follows an initial funding round of €4 million in September 2020.
Oso-Ai has developed a prevention system based on algorithms capable of recognising over a hundred classified sounds and noises (falls, moans, impacts, breathing, footsteps, etc.). Fitted with microphones and sensors, this wall-mounted device analyses the acoustic environment of a vulnerable person and sends a notification to a mobile app used by care staff if it detects an abnormal or concerning situation.
More than twenty care homes and healthcare facilities are now equipped with the OSO-AI device. Olivier Menut, co-chair and co-founder of OSO-AI, states: “We are on a positive trajectory that we need to build on. We have nearly 1,000 devices installed in France and are aiming for nearly 3,000 by the end of this year.” However, the company also plans to expand into a new market: vulnerable people living at home, via a B2B2C model through partners.
“One of Breizh Up’s objectives is to foster the emergence of strong and ambitious players across the region who will have an economic and social impact on the future of Brittany. Thanks to the strength of its groundbreaking AI solution for sound analysis, the calibre of its teams, the depth of its market, and the responsible scope of its solution—which improves the quality of care and the working conditions of care staff by reducing their stress and enabling them to focus on their work— we are very proud to support the development of this iconic Finistère-based start-up, which has been driven since its inception by the dynamism of an entire local ecosystem,” says Stéphane Lefevre-Sauli, investment director at UI Investissement and responsible for managing Breizh Up.
- Target company: OSO-AI
- Acquirer or Investor: INNOVACOM , CEMAG INVEST , Vincent Deltrieu , NOVINVEST PARTNERS , Catherine Dunand , UI INVESTISSEMENT , Stéphane Lefèvre-Sauli
- Acquirer’s Corporate Legal Adviser: JOFFE & ASSOCIES (Thomas Saltiel, Camille Malbezin et Oriana Castelli)
