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136%
Raised
£164,180
Investors
252
Target
£120,000
Equity
9.05%
Pre-money valuation
£1,650,000

Service Robotics will be launching Genie Connect®, an intelligent, personalised, robot companion service supporting extended independent living with companionship & memory stimulation software for older adults. Its prospective features include; Realtime video calls connect the user to a dedicated 24x7 Service Centre with a voice command.

  • High growth market in independent living and loneliness alleviation
  • Proven robotics/AI technology and memory stimulation software
  • Mass market-accessible monthly subscription without capital outlay
  • Targeting an exit by trade sale in year 3 to year 5

Idea

We live in an ageing society, where the needs of the older adults of the UK are increasingly unmet by our health & care systems. GenieConnect® strives to be an intelligent, personalised, robot companion service that supports extended independent living for older adults. We are looking to offer GenieConnect to users at an affordable all-inclusive monthly subscription & is completely voice enabled.

The prospective features of the Genie robot include an interactive companion, offering reminders, video calling to family & friends and smart home management, as well as monitoring of the user environment remotely by family and a real-time video support function that connects the user to a dedicated 24x7 Care Centre. The friendly service agent, with their knowledge of the user’s likes & dislikes, routines & needs, will answer their queries.

We will integrate GenieConnect with RemindMeCare, a partner software solution that promotes cognitive retention with memory stimulation. Once loaded with the user’s brief life story, Genie’s AI engine will offer reminiscence with family photos and videos, nostalgic articles, music and news.

The GenieConnect® solution will be piloted with 150 users from Q1 2019, with the goal of a commercial launch in late-2019. Our ambition is to achieve 40,000 subscribers within 3 years, representing just 1.1% of the number of over 65s who live alone.

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Risk warning

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GenieConnect® has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.