LSP invests in the EUR 13 million Financing Round of silver tech company Nobi to support its international expansion
LSP today announced that Nobi, a Belgian company commercializing a smart lamp allowing superior fall detection and fall prevention in older adults, closed a €13 million investment round. LSP, investing from its LSP Health Economics Fund 2 and its LSP Dementia Fund, joined as new investor. BNP Paribas Fortis Private Equity and The Flemish Investment Company PMV also participated, next to certain existing shareholders.
Nobi develops technological innovations addressing the challenges of an ageing population. The company’s first commercial product is a smart lamp helping to solve a global problem: falls by older adults. One in three people over 65 fall at least once a year and providing help as soon as possible is crucial: falls are the leading cause of fatal injuries and 50% of the elderly who lay on the floor for longer than one hour die within six months after the fall. With the help of a sophisticated sensor system and artificial intelligence, the Nobi lamp very quickly detects a fall and ensures that assistance is provided. Nobi wants to make it possible for older adults to live safely and happily in the location of their choice: at home, in a service flat or their room in the assisted living centre.
The Nobi lamp has built-in temperature and air quality measuring instruments and also already helps in preventing falls. Nobi registers when the resident sits up in bed at night and automatically switches on soft lighting. This helps prevent disorientation when waking up and a fall when getting out of bed. In addition, its artificial intelligence enables Nobi to detect changes in behaviour, such as when someone suddenly has difficulty walking. Integration with devices such as smart scales or a blood pressure monitor provides additional insights into the resident’s health.
The company installed its Nobi lamps already in Belgian and international healthcare companies, including nursing homes, assisted living facilities, hospitals, community care, convalescent homes and organisations for children with disabilities. Nobi lamps are used to support (often busy) healthcare personnel so that they can devote all their time and energy to providing even better quality care for their residents or patients. Nobi opened its first foreign offices in the Netherlands (Eindhoven), Austria (Vienna) and the United States (New York) in 2021. Nobi’s design received a German Design Award and two gold awards in the ‘Consumer’ and ‘Business Innovation’ categories of the prestigious ‘Henry van de Velde Awards’.
The €13 million of new capital will be used to develop long term collaborations with assisted living centres, service flats and hospitals worldwide and to launch Nobi in people’s homes. Nobi will also develop a suite of new applications based on the communication technology and artificial intelligence integrated in the smart lamp.
Roeland Pelgrims, co-CEO of Nobi stated “Saving lives and safeguarding quality years of life has been our driving force since the establishment of Nobi. In the event of a serious fall, every minute counts. The faster people are helped, the more time they can gain in life. We know that 20% of all older adults brought into the emergency room have lied on the floor for more than an hour. Within this group, mortality rises to 50% within six months of the fall. Thus, the first falls that Nobi was able to detect in a long term care facility with its commercial product had a great emotional and symbolic value for team Nobi. These people were immediately helped by the nursing staff because their assisted living centre had Nobi. In each case, these interventions saved several years of life.”
Rudy Dekeyser, managing partner LSP Health Economics Fund 2 and joining the board of Nobi said: “Thanks to Nobi’s unique technology for fall detection and fall prevention, it already offers a great deal of added value. Its integrated communication technology and artificial intelligence make it possible to develop attractive applications that, among other things, may help to prevent illnesses, monitor therapies and contribute to the wellbeing of the elderly. With our investment, we also want to unlock that potential.”
Philip Scheltens, managing partner at LSP Dementia Fund and also joining the board of Nobi stated: “Of all the older adults, those with dementia have the highest risk of falling. Falls often end in hospitalisation and subsequently more rapid deterioration. They should therefore be avoided whenever possible. In nursing homes, the risk of falling puts a lot of pressure on the already limited workforce. This is why the LSP Dementia Fund considers the investment in Nobi of great social value.”