OSO-AI, a Brest, France-based deeptech company in Ambient Intelligence (Aml) serving vulnerable people and caregivers, completed €10 million in Series A financing.
The round was led by Innovacom, Novinvest Partners, and Breizh-up, joined by Cemag Invest Partners.
The funds raised will enable OSO-AI to meet the strong demand for its augmented ear device for caregivers, from medical and social centers in France, and to initiate the first sales in neighboring countries.
OSO-AI developed a technology that is unique in the world for analyzing sounds and noises. Non-invasive, the OSO-AI augmented ear solution consists of a box equipped with microphones and sensors coupled with algorithms that analyze in real-time all suspicious sounds and noises in the environment of vulnerable populations (the elderly and people with disabilities).
Olivier Menut, co-founder and president of OSO-AI, said: “I would like to thank all of our shareholders for their trust and unfailing support. Since the commercial launch of our augmented ear solution in 2021, first in nursing homes and then gradually in other medico-social centers, OSO-AI has faced very strong demand. To date, we have nearly 1,000 devices installed in France and expect nearly 3,000 by the end of this year. Although young, OSO-AI is, in fact, facing scale-up challenges - increasing our production, technological development around new functionalities and categories of sick people. Issues to which we must respond through a significant investment effort. Moreover, the prospects opened up by our technology are extremely vast for improving the follow-up of fragile people, in institutions, as well as “outside the walls”.
Company: Oso
Raised: €10.0M
Round: Series A
Funding Month: April 2023
Lead Investors: Innovacom, Novinvest Partners, and Breizh-up
Additional Investors: Cemag Invest Partners
Company Website: https://www.oso-ai.com/
Software Category: Augmented Ear Solution
About the Company: Founded in 2018, OSO-AI is a deeptech start-up pioneer in ambient intelligence. OSO-AI has developed a unique technology in the world: the augmented ear for caregivers. This innovative solution, making the most of artificial intelligence and the recognition of noises and sounds, allows the secure and remote monitoring of fragile people and users of medico-social establishments while improving the quality of life at work. It employs 30 highly qualified people (AI engineers and developers, data scientists, and data labelers). the OSO-AI systems are currently deployed in around twenty institutions in France (retirement homes, CHU, IEM, establishments for the multi-disabled) and with individuals as part of experiments with key players in remote assistance.
Source: https://www.oso-ai.com/blog/levee-de-fonds-10millions-avril-2023