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AI-driven Care Monitoring Startup Raises £8.2 Million

Chrissie Wong

Chrissie Wong

12 February 2024

Lilli, a UK-based startup, has raised £8.2 million in a Series A financing round to extend the period of independence for vulnerable individuals through AI-powered monitoring technology.

The company's mission is to enable people to live longer, happily, and independently at home, while lessening the strain on an overburdened and underfunded health and care system.

According to research and analysis firm GlobalData, the first game-changing generative AI (GenAI) app is expected to hit the medical sector in 2024, with the overall AI market reaching a valuation of $909 billion by 2030.

Venture capitalists and businesses are seeking to make significant investments in the application layer of GenAI development, particularly in the medical sector, which will greatly increase the accessibility of medical professionals, services, and benefits for older adults and their caregivers.