Funding

[Funding alert] London-based Lilli Secures £8.2 Million in Series A Round Funding

Feb 8, 2024 | By Startup Rise EU

London-based Lilli secures £8.2 million in series A round funding. The change from a reactive to a proactive care style is being led by Lilli.

London-based Lilli secures £8.2 million in series A round funding. The change from a reactive to a proactive care style is being led by Lilli.

Lilli observes patterns and trends among users with clever, non-intrusive technologies, proprietary AI, and machine learning (LLM). This gives care providers precise and lucid insights regarding welfare and activities within the home.

Read also - Austria-based Atlas Secures $4.5Million in Funding

This facilitates precise decision-making and makes it simple to recognise behavioural modifications before illnesses worsen, enhancing health outcomes and lowering hospital stays.

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The UK health and social care system is already benefiting from the technology. According to data provided by local councils, organisations utilising Lilli can anticipate savings of up to £9 for every £1 invested, thousands of extra hours of caregiving, and a 16-day acceleration of hospital discharge rates.

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West Hill Capital led today's fundraising round, which will support the business's expansion plans and goal of assisting individuals in maintaining longer, safe, independent lives in their homes.

The money will also help Lilli release an app for friends and family, and it will allow the company to delve more into AI insights and reporting.

Read also - Düsseldorf-based Kauz Secures €2.3 Million in Funding

Gren Paull, Chief Executive Officer at Lilli, said: “This latest financing powers Lilli with the funds needed to accelerate our mission of bringing the benefits of remote monitoring to more people within the UK and internationally. The sector is in a well-documented state of crisis, and we have empirically proved how we can alleviate pressures of diminishing budgets, resources and even bankruptcy that local governments are facing. This success and evidence is what has delivered investor confidence and powered this oversubscription."

Mark Hickson, Managing Partner at West Hill Capital, adds: “Lilli’s data driven digital healthcare platform has the potential to revolutionise how social care is delivered, utilising innovative technology to provide substantial productivity gains and cost savings for local authorities and healthcare providers. The capital raised in the offer provides resources to enable Lilli to meet growing demand and to rapidly scale this technology with a view to improving the quality of life for people across the UK and then worldwide.”

About Lilli

Lilli Is the Future of Independent Living: they think that every individual has the right to preserve their independence, irrespective of their age, aptitude, or medical condition. They provide people with the assurance they need to continue living happy, safe, and independent lives in their homes by using discreet technology.

Read also - Budapest-based Qneiform Secures €750k in Pre-Seed Funding

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