Startups Awards winner 3rings clinches £600,000 investment
Dragons' Den reject will use funding from health insurance company to roll-out its ‘smartplug’ care device technology across the country
Startups Awards 2015 winning start-up 3rings, an app-based care-monitoring device, has secured £600,000 in funding in a round led by health insurer Westfield Health.
Launched in 2015 by Gareth Reakes (pictured), former FTSE 250 boss Steve Purdham and Julie Purdham, cloud-based 3rings helps users monitor the wellbeing of their elderly relatives using a ‘smartplug’ that connects to domestic appliances such as a TV or kettle.
When the appliance is switched on, the family receives a notification via text or email to let them know their relative is safe and well.
The company, which initially failed to secure £300,000 investment on Dragons’ Den last year, will use the finance to fuel the commercial roll-out of its signature technology across the UK.
Purdham commented: “Our partnership with Westfield Health goes beyond the financial investment and we will be working together on innovative product development and distribution to take 3rings and family social care to its next phase.”
David Capper, commercial director at Westfield Health, added:
“We immediately saw the potential in the 3rings concept and it sits well with our long-term innovation plans. There is an emerging market for smart technology to support health, wellbeing and family care.”
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Find out more about 3rings here.