Antilles Oil and Gas – which is acquiring technology enabled care provider HomeStay Care – has raised $4 million ahead of relisting on the ASX.
The company, to be renamed Homestay once re-listed, raised the $4 million via a placement of 200 meillion shares at 2c per share.
Founded in 2016, HomeStay has created a technological solution to enable elderly individuals to live independently by providing access to on-demand services, healthcare data management and lifestyle monitoring via its Intelligent Homes platform.
Intelligent Homes are equipped with innovative monitoring technology to allow the elderly to live independently and avoid extended hospice stays, which not only extend hospital waiting times but also contain an elevated risk profile for contracting contagious diseases.
The technology uses monitoring devices which sense regular movement patterns throughout the home, to identify the occurrence of serious incidents, such as falls or unconsciousness.
The monitoring devices are supplemented with additional sensors, such as wearable heart monitors and in-built technology to assess whether switches like lights have been turned on, or fridge doors opened, in a reasonable amount of time.
The Intelligent Homes will send out an alert to friends, family or a nominated carer in the event of a potential incident, effectively providing 24-hour care and peace of mind.
Intelligent Homes integrate various in-home AI sensors which collect data wirelessly through a “hub” which is central to Intelligent Home technology.
The Intelligent Homes utilise advanced AI and predictive analytics to alert family, friends and caregivers to a potential incident based on the data collected.
The raising will place HomeStay in an improved position to enhance its platform and will also be used for business development, sales and marketing, intelligent home installation, hardware, on-going monitoring services, data management and analytics, operational costs and identification of new opportunities and markets.