Patronus, a German software publisher of connected watches for seniors' health, has raised €27 million from Singular, Adjacent, Burda Principal Investment, and other historical shareholders. The funds raised will allow the company to launch a new range of connected products for the elderly. Patronus was founded in 2021 by Ben Staudt and Tim Wagner, and their software enables seniors to live safely and autonomously while staying connected to their families and caregivers. The software transforms smartwatches into digital watches, allowing at-risk seniors to call for help anytime and anywhere they need it. The watch's software enables 24/7 connectivity to the emergency call center, which has access to the user's health records and caregiver contacts.
Singular is a venture capital firm that invests in European technology startups, and Adjacent is a venture capital firm that specializes in early-stage investments. Burda Principal Investment is the investment arm of Hubert Burda Media, a German media company that invests in digital startups. The combination of these investors and Patronus' innovative solution for seniors' health has the potential to be a game-changer in the industry.
Patronus' solution is well-timed, given the increasing demand for technology that can help seniors live independently for longer. According to the World Health Organization, the proportion of the world's population over 60 years old will double from 12% to 22% by 2050. This demographic shift is driving demand for products and services that cater to the needs of the elderly. Patronus' software is a promising solution that enables seniors to live independently and safely while staying connected to their caregivers and loved ones.