Tendertec secures £440k in seed funding led by the Development Bank of Wales to launch its artificial intelligence care assistant.
The Development Bank of Wales led the round to support the commercialisation of the company's caregiving technology.
Tendertec develops an artificial intelligence platform designed to assist with elderly care and remote monitoring. Its technology merges heat sensing and machine learning to help caregivers identify potential health risks early.
Tendertec has raised £440k in a seed investment round led by the Development Bank of Wales to support the launch of its artificial intelligence care assistant. The financing also attracted participation from Puffin Point, along with a group of business angels including Marina Bouki, Ariadni Velissaropoulos, and Michalis Diamantopoulos, alongside Theti Club angels Theo Paraskevopoulos and Vangelis Sakelliou. The capital will be deployed to expand the team, grow the customer base, and advance research and development programmes.
The fresh funding arrives as the social care sector faces mounting pressures from chronic workforce shortages and rising demands from aging populations. Tendertec's flagship platform, Hestia, uses wall-mounted sensors and machine learning to monitor daily movements and fall risks without employing cameras, offering continuous visibility to support preventive care.
From the founder
"The elderly population is rapidly growing, and the care sector is struggling to keep pace. We need over a 50% increase in paid carers by 2030 to ensure adequate care. The current situation calls for innovative AI solutions, like Hestia, to address the urgent need for caregivers and fulfil the care sector’s economic and job creation potential,"
Afroditi Konidari
CEO at Tendertec
Investor perspective
"Both Afroditi and Rui have a passion for tech-enabled care along with expertise in machine learning and user-centred design. Our finance will help them to help others to stay healthy, independent and safe with a data-driven solution that is cost-effective, personalised and preventative."
Linzi Plant
Assistant Investment Executive, Development Bank of Wales
Use of funds
- 01Grow the team
- 02Fund research and development
- 03Expand into international markets
Investors
Linzi Plant
Development Bank of Wales
Will Chawner
Puffin Point
Marina Bouki
Ariadni Velissaropoulos
Michalis Diamantopoulos
Raphael Kontos
Theti Club