Spin-out Portfolio

Augmented Insights – turning care data into actionable insight

Background

CareTec.AI from Augmented Insights is a web-based data analytics-as-a-service platform that uses artificial intelligence and machine learning techniques to enable predictive and preventative care by providing early detection and prediction to allow emerging problems to be spotted early and preventative action to be taken.

The Company

Augmented Insights was founded in 2018 as a spinout from University of Warwick’s School of Engineering. The founders, Dr James Amor and Professor Christopher James also took part in the ICURe programme, which supports university researchers to validate their ideas in the marketplace. Meetings with over 100 potential customers, end users, potential competitors and other stakeholders helped to refine the value proposition for CareTec.AI and ensure that the company met a genuine market need. 

Market research from Frost & Sullivan shows that that there is a global and growing market for TEC (technology enabled care) of $6.7bn in 2017 and CAGR of 27%, and a strong demand for predictive modelling of the type Augmented Insights provides.

Technology overview

Technology for social care creates vast quantities of data that care providers lack the time and expertise to use, and current systems are reactive when there is an urgent and growing need for proactive systems for care planning and management. CareTec.AI takes data from multiple data sources, including multi-sensor smart home systems and digital care management platforms, and extracts user behaviour patterns. Once patterns are identified and CareTec.AI can detect when behaviour differs from established normal patterns, it builds a model of normal health and behaviour for each individual person. Using that model, new data can be evaluated and changes in health or behaviour identified, allowing users to spot possible problems much earlier, with reporting that is easy to interpret by carers or family.

Opportunity

Augmented Insights is beta testing the Care.AI product and has a partner contract in place with a Scandinavian care management software provider. It is seeking more beta partners and plans to launch the Caretec.AI beta online in 2019 Q3..

The Innovate UK funding grant is currently facilitating beta testing with a limited number of partners over 12 months and the expansion of the Augmented Insights team. With full commercial availability planned for 2020 Q31onwards. Augmented Insights will be seeking investor funding during 2019 Q3.

For further information please visit www.augmentedinsights.co.uk

FUNDING TO DATE

2018 – University of Warwick I2I Funding  £37k

2018 – ICURe funding £35k

2019 – Innovate UK grant £193k

2019 – Angel Investment £85k

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