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Successfully funded
overfunded
Service Robotics Ltd
126%
Raised
£569,430
Investors
304
Target
£450,000
Equity
17.48%
Pre-money valuation
£2,687,669

GenieConnect® is a game-changing service to help older adults live independently in their own homes, by offering voice-enabled face-to-face human support through a cute intelligent Genie robot. Our roadmap includes IoT integration to turn the home into a cocoon of health, wellness and companionship.

  • We won our first contract in November 2019 from the NHS/SBRI programme
  • We achieved software release R1.1 for the pilot project in August 2019
  • We have agreed pilot projects with 3 care and retirement organisations
  • Our service was presented at the prestigious 2019 Founders Forum event
Information The amount raised on the progress bar includes £225,000 of proposed investment by a regional development fund, which is subject to due diligence.

Idea

We believe that our ageing society is struggling to provide the level of care required for those in need. Age UK estimates there are 1.4m people who have difficulty with activities of daily living & do not receive the help they need. The GenieConnect® service helps to address this by enabling independent living for older adults with voice activated:

Human video support via your own circle of contacts (with a 24/7 care centre planned for commercial launch)

Medication reminders

Music/Radio/entertainment

Health monitoring & alerting

The market is huge. Right now in the UK there are 3.64m people over the age of 65 who live alone, & this is rising steadily. In 2015 in the wider EU, the so-called “silver economy” was estimated to be worth €3.7tn, & is projected to reach €5.7tn in 2025. It's predicted that the UK digital healthcare market will reach £21.8bn by 2025.

Since inception in 2018, Service Robotics has built the GenieConnect® platform to release R1.1 & is actively piloting the solution. In 2019 we won the HealthTech Digital award for best use of robotics in healthcare, & in August 2019 launched first pilot project in Cornwall, on the back of 2 grant awards. We won our first contract in November, with the SBRI/NHS initiative in a local authority, which has completed phase 1 & is now approaching phase 2.

We applied for an Innovate UK grant in March & have been selected for interview.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Service Robotics Ltd 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.