The ASX-listed AI-driven software provider has raised the money through a two-tranche placement at 0.8c per share to develop high-tech AI devices.
InteliCare products are aimed at increasing the independence of older people and those requiring home-based monitoring with a range of high-tech AI-inspired devices, including smart sensors and wearable technologies that provide alerts, monitor the reading of a person’s vital statistics, and enable incident and falls detection assessment.
Its smart sensors learn daily routines such as sleeping patterns, bathroom visits and movements within a residence. Changes in routine can be detected, and the InteliCare product will alert care staff to attend and prevent the potential falls or incident from occurring.
In an announcement lodged with the ASX, inteliCare CEO Daniel Pilbrow (pictured) said, "We are grateful for the continued support of the company by its existing shareholders and welcome new shareholders.
"The extra funds received from this Placement will be used to push further commercial agreements with key groups in the Company's sales pipeline.
"I am excited for what the next 18 months has in store for the Company and its prospects.
"ICR has demonstrated its ability to deliver on its B2B business model with the recent deployment in Hardi Aged Care facilities
