AVATR, a UK-based medical-grade mobile technology designed to deliver high-impact social, economic and health benefits, is now seeking £200,000 through its equity crowdfunding campaign on Seedrs. The company is currently offering 6.89% equity share, with a pre-money valuation of £2,704,331.
Founded in 2015, AVATR connects the patient through a chatbot – and doctor through a dashboard – giving them both direct control of the data they exchange, whilst respecting their data privacy and security.
“AVATR is a medical-grade mobile technology designed to deliver high-impact social, economic and health benefits. Using proprietary Augmented Intelligence, Machine Learning and UX design, AVATR enables patients to use their smartphone to create a digital profile of their self, which they can share with their doctor to benefit from the convenience and assurance of continuous personalised medical care outside of hospital.”
AVATR creators also noted that the app integrates real-time data from medical grade devices with environmental, social and behavioral data to enable a doctor to create and manage personalized care plans remotely, with the aim of delivering improved clinical services and outcomes, and cost savings. Funds from the Seedrs round will be used to introduce AVATR to a limited number of paying patients in Singapore within the first quarters of 2019. The breakdown of the funds is listed below:
- Technology: 20% – to take the MVP into a full commercial version.
- Legal: 16.67% – to create and submit international design patents, legal agreements and medical devices registrations.
- Operating Cash Flow gap: 46.6% (as per financial supplement).
- Communication and Sales: 16.67%.
The funding round is set to close later this spring.
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