Italian startup TeiaCare announced recently that they have raised €1.1 million in funding with the help of Europe’s leading tech accelerator, EIT Health Investor Network to stimulate the development of their digital monitoring technology, Ancelia. Ancelia uses artificial intelligence (AI) and computer vision algorithms to assist nurses in the care of elderly patients.Â

The increasing ageing population in Europe is said to be linked to higher costs in healthcare, due to the risk of co-morbidities and decline in mobility. However, if appropriate measures are implemented at the right time such as better coordinated care, it is believed that ageing does not directly lead to significant increases in the cost of healthcare.