CherryHome Raise $5.2 billion in a New Funding Round

An energetic startup, CherryHome which uses AI (Artificial Intelligence) to take care of elders at homes has completed a new funding round. The move by the company will help them to apply its platform to predict long-term health changes.

The latest fundings round raised $5.2M from a venture capitalist, GSR Ventures in a move to drive the technology’s use for in-home senior care. The company’s algorithm is based on its proprietary computer vision which interprets camera data into virtual “skeletons.”

The virtual “skeletons” are used by the AI to recognize and evaluate people’s behaviour and home events. It can predict if someone might develop a limp over time, for example.

The company’s platform processes all information locally, therefore, the videos remains at home, while the senior citizen is replaced in the video with a virtual “stick-person” in order to preserve their privacy.

With the new fund raising, the company has also secured pilot deals withTriCura, a tech ecosystem for care agencies and TheraCare in-home care-giving service.

According to the company’s CEO and co-founder of CherryHome, there are several applications available for understanding human behaviourranging from home security to in-home senior care.

Currently, the percentage of senior citizens in the US is 15. By 2030, one in five people in the country will be of retirement age. According to studies, the majority of senior citizens prefer to be at home rather than living in an assisted-living facility.