DrinkWell Heath Tech GmbG
Dehydration in the elderly is one of the major causes of falling and disease. Based on a clinicly validated study, we co-developped with FH Wien .
Achievements
Team
Prototype
Users
Partners
Revenue
Investors
What we offer
A 90% ready hardware product ( the Drink Well cup), and a Back office platform ( Harmonly), clinically validated in a study of FH Vienna ( University Vienna Campus)
Target group
Elderly citizens, living alone or in retirement homes. Nursing organisations ( residential and private-, hospitals for after surgery care. Time saving for nursing staff, helping doctors follow up a patients health state.
Challenges
The product is 90% ready. A commercial redesign is needed, as well as some electronics modifications. The platform supporting the cup is 95 % ready and tested ( but as always in continuous improvement. The market network and experience of 1 of the founders makes market introduction rather 'easy'. However, some competition ( less developped) is already on the market, so we need to move ahead as fast as possible. We can be market ready 6 months after funding.
Our Story
mobile and voice apps, which provides a comprehensive digital IoT monitoring solution. The functional
prototypes were developed and a clinical testing phase was completed by the Fachhochschule Campus
Wien.
We’re ready to startwith the final phase ofgo-to-market: massproduction and finalize
software development.
The production partners have been briefed and the planning has been agreed with the
hardware partners in the Factory HUB Ecosystem in Vienna.
The Funding needs are ~€500k: private equity €180k and €350k which we expect (98% success rate) to attract from AWS and/or WAW. We’re in the process of applying for AWS ERP Kredit, a loan, and AWS Seed Financing -
Innovative Solutions, a grant (AWS website). We might also apply for an €200k subsidy from WAW [Vienna Business Agency]. In order to increase our chances for a successful outcome from AWS and WAW we’ll employ the services of a specialist with a proven track record: Sara Alkan (website).
Of the €180k equity, divided into 2 or 3 tickets, €90 k is already confirmed by a Viennese Business Angel (for 8% of the shares). The plan is to use a shell company, owned by him, to incorporate DrinkWELL Health Tech GmbH during the next weeks , a milestone in our go-to-market !
Master Pitch Deck, Short pitch deck and financials are available upon request. www.drinkwell.health
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