|At a Glance|
CareUs Oy is a healthtech company, which has developed a sensitive, wearable sensor technology and a software to solve the key problems in rehabilitation: weak motivation, lack of control & follow up, and difficulties in independent practice (remote rehabilitation).
Traction and Ask
With €25k net revenues in 2022-2023 Q1, and €125k worth of leads in 2023 and a €3,65M pre- money valuation, CareUs is looking to raise €400k seed funding (+ public investment €200k) and gain healthtech expertise from investors. The investment is needed to:
1. Validate the product and ensure critical healthtech certifications (MD 1-3) and move to fully marketable product;Reach 30% more customers and €500K net revenues by Q4 2024;
2. Strengthen the team with 3 new hires: Sales Director, GoTo Market professional/international markets, and a person with field specific expertise and experience from international growth;
3. File a new patent to protect the key algorithm feature of wearable sensor technology.
Market, Business Model, Financials and Team
In a global rehabilitation market worth $144.6bn (2021), +6.1% CARG / year, CareUs was founded in 2021 in Jyväskylä, Finland. CareUs is monetizing mainly through SaaS fees charged to B2B customers such as hospitals, health, therapy, and rehabilitation centers. Revenue growth is projected at 30% YoY, reaching €4M by 2026. CareUs team of three founding members and four co-founders/employees combines several decades of commercial, research and technology expertise.
Key USPs versus competitors like Flint Music Glove, Saebo Stim, Rapael Smart Glove, ReGrasp are:
1. CLOUD SERVICE gives exceptional possibilities for remote rehabilitation, data analysis and outcome measures for rehabilitation.
2. SENSITIVITY AND SMALL LATENCY OF SENSORS is of special importance for patients with serious stroke symptoms and cognitive limitations.
3. CUFF vs GLOVE: Our solution is based on cuff format, which expands the use cases of the device (only hand vs arms, limbs, chest, head etc.).
4. CREATIVITY has in our products a key role in creating a motivational rehabilitation environment and increasing positive user experience.
CareUs has already invested €100k of its own capital and raised €50k from private and public investors (i.e. ELY Center Finland), to develop its MVP, which means that, after this investment round is secured, CareUs is fully ready for international commercial uptake.
We aim to close this seed round by 30-06-2023. €20k is the minimum investment ticket size.
Get in Touch
Kalevi Louhivuori (CEO, Founder) and the other founders are speaking with potential investors over the next few weeks and are keen to pitch, demo and open up their traction and financial plans in detail.
Get in touch with us to find out more.