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UK-based elderly caretech company Birdie has announced that is has raised £8.2 million led by international venture capital firm Index Ventures and with participation from Kamet Ventures.
The investment will be used to expand the business and invest in product innovation.
WHY IT MATTERS
The pandemic has brought on a social care crisis across the globe. The number of people over 65 will double by 2050, and while people are living longer, they are falling sick at the same age.
This increases pressure on an already strained care system, in which 25% of the UK’s home care providers are on the brink of bankruptcy and local authorities in England will face a £4.4 billion funding gap by 2023.