Intuition Robotics, a trailblazing company focused on enhancing the lives of older adults through innovative AI solutions, has successfully raised $25 million in its latest funding round. This funding, consisting of $20 million in venture capital and $5 million in venture debt, was spearheaded by Woven Capital, Toyota’s growth fund.
The round also saw participation from Toyota Ventures, OurCrowd, Western Technology Investment, and other investors. The influx of funds will enable the company to meet the escalating demand for its AI-powered companion, ElliQ, within government aging agencies and healthcare organizations. Moreover, it will support deeper integration into the healthcare system, facilitating better connectivity and access to essential services for the aging population while curbing costs.
Addressing The Loneliness Epidemic with AI
Loneliness has emerged as a grave health concern, with the U.S. Surgeon General comparing its risk to that of smoking 15 cigarettes a day. Recognizing this issue, the U.S. healthcare system is actively seeking remedies, as evidenced by recent legislative efforts aimed at fostering social connection and tackling soaring loneliness rates.
ElliQ: Pioneering AI Companion for Older Adults
Intuition Robotics introduced ElliQ, an AI companion designed to counter loneliness and promote independent living among older adults. Amidst an era of technological breakthroughs, ElliQ has consistently demonstrated its prowess in engaging users over time and positively impacting the lives of seniors. Its proactive suggestions and conversational capabilities forge a strong bond with older individuals. ElliQ offers companionship through health check-ins, cognitive activities, social connections, and more, all within an intuitive interface.
Woven Capital’s Perspective
Nicole LeBlanc, a partner at Woven Capital, expressed enthusiasm for Intuition Robotics’ role in reshaping mobility for the elderly. LeBlanc, who is also joining the company’s board of directors, emphasized how the company’s field-proven solution aligns with Toyota’s values of enhancing social infrastructure and serving often overlooked markets. Intuition Robotics’ endeavors stand as a natural complement to Woven Capital’s vision for the future of mobility.
Impressive Rollout and Impact
Following a successful commercial launch, Intuition Robotics has initiated partnerships with various U.S. government agencies. Notably, programs with the New York State Office for the Aging, Broward County’s Area Agency on Aging, Olympic Area Agency on Aging, and California’s Agency on Aging in Area 4 have facilitated the distribution of ElliQ to end users at no cost. The company’s partnership with a Managed Care Organization targeting Medicare beneficiaries marks another significant achievement. In New York, ElliQ has achieved exceptional user engagement, averaging over 30 interactions per day and reducing loneliness in 95% of users.
ElliQ’s Conversational Advancements
Leveraging the latest advancements in Generative AI and transformative Large Language Models (LLMs), Intuition Robotics has enriched ElliQ’s conversational capabilities. This evolution facilitates a deeper and more personalized relationship between ElliQ and its users. Through strategic integration of multiple LLMs, including utilizing DALLE2 for creative activities like painting, ElliQ offers seamless and enriched conversational experiences, all while maintaining a controlled and consistent user experience.
ElliQ’s Main Categories
ElliQ’s features come under four categories: Entertainment and Companionship, Connection, Health and Wellness, and Assistance with Daily Living.
Here are a few examples of what users can do with ElliQ:
- Physical exercise videos (Silver Sneakers partnership)
- Health content (Mayo Clinic collaboration)
- Transportation support (Uber Health)
- Conversation and inspiration
- Check-ins and notifications to a loved one (if needed)
- Health and wellness goal setting and tracking
- Reminders (events, appointments, etc.)
- Text messaging
- Video calling
- Memory recording and sharing
- Music, jokes, trivia, news
- Photo display via built-in picture frame (with automatic updating)
Looking Forward and Making a Difference
Dor Skuler, CEO and Co-founder of Intuition Robotics, stressed the company’s dual impact on countering loneliness and improving overall health and behavior among older adults. The enhanced AI capabilities of ElliQ represent a step forward in contextual, personalized, and goal-driven interactions. The new funding will aid in expanding ElliQ’s reach, accessibility, partnerships, and understanding of its role in healthcare. This trajectory aligns with the company’s mission to empower older adults for happier, healthier, and more independent lives.
Toyota Ventures’ Continued Support
Jim Adler, founder and general partner of Toyota Ventures, acknowledged the strides Intuition Robotics has taken since their initial investment. He commended the company’s commitment to amplifying the human experience through technology, anticipating further enrichment of older adults’ lives through ElliQ.
Intuition Robotics’ recent funding achievement of $25 million, led by Woven Capital, underscores its pivotal role in addressing the loneliness epidemic among older adults. The company’s innovative AI companion, ElliQ, offers a robust solution that not only reduces isolation but also fosters independence and connectivity. The successful commercial rollout and partnership initiatives reflect ElliQ’s tangible impact on improving the lives of seniors. Leveraging cutting-edge AI advancements, Intuition Robotics aims to propel ElliQ’s capabilities further, bolstering its mission to empower older adults for enhanced quality of life.
Intuition Robotics has secured $25 million in funding led by Woven Capital to support the expansion of its AI companion, ElliQ, designed to combat loneliness and enhance the lives of older adults. The innovative solution, which has already demonstrated its efficacy in partnerships with government agencies, offers companionship, engagement, and health benefits to seniors. The funding will drive ElliQ’s accessibility, partnerships, and AI capabilities, furthering Intuition Robotics’ mission of improving the well-being and independence of the aging population.
Hi, I’m Oren, founder at BIGINTRO, a content strategy agency that helps B2B companies drive growth. We develop search, social, PR, and content marketing strategies tailored to business goals. I also have a dog named Milo.