The intelligent robot company recently completed a $36 million Series B financing, led by SPARX Group and OurCrowd, with participation from Toyota AI Fund, Sompo Holdings, iRobot, Union Tech Ventures and other institutions. The company’s total financing is currently $58 million. Funding will be focused on enhancing product features and improving user experience.
The Israeli startup “Intuition Robotics”, founded in 2015, is committed to using artificial intelligence technology to build digital assistants and strengthen the emotional connection between humans and machines. Its representative product is the elderly companion robot – ElliQ, which is a home smart terminal with functions such as video calls, cognitive games, music videos, photo sharing, and news reminders.
According to the latest statistics from the United Nations, the total number of elderly people in the world has reached 629 million. On average, every 10 people has an elderly person aged 60 or over, and the elderly living alone account for 14% of the total elderly population. Market demand for elderly health services, including mental health services and home services, is increasing.
In the past two years, “Intuition Robotics” has continued to collect data through ElliQ in the homes of early users. These senior users range in age from 78-97 years old. The team found that, on average, users interacted with ElliQ 8 times a day, spending about 6 minutes a day. When ElliQ makes some positive suggestions, users tend to accept it.
The CEO and co-founder explained: “These phenomena prove that our products can help people to build lasting relationships with machines and influence people’s emotional feelings and behavior, ElliQ builds trust in users and can predict users. need.”
(Image credit: Intuition Robotics)
In addition to its main business, “Intuition Robotics” is working with Toyota Research Institute to try to apply technology to Toyota LQ cars. Toyota has previously stated that the LQ series automotive system needs to introduce an “empathetic” AI assistant, hoping to establish an emotional bond between the driver and the car. The platform of “Intuition Robotics” provides technology for its AI assistant “Yuri” support.
But unlike ElliQ, the assistant in the car will not have actions, but instead use lights and screens as carriers to interact with the driver. In addition to Toyota, the company also has a partnership with another car company.
In the next step, the team will continue to collect data related to ElliQ to improve product performance and improve the quality of life of users. In addition, more attempts will be continued around the car scene.
Regarding the investment logic, Jim Adler, founding partner of Toyota AI Fund, said: “Intuition Robotics is a disruptive technology that will inspire the industry to rethink how machines can enhance human emotional experience. “Following, Jim Adler will join the company’s board of directors.