VOY Advises Cavalry Ventures on Patronus Seed Round
Patronus has raised USD 7M of Seed financing. Lead investor Cavalry Ventures was advised by Johannes Steinacher and Kristian Lutz.
The panel of institutional investors in this round was completed by UVC Partners and DN Capital.
By 2035 around 23 million people in Germany will be 65 years or older. It’s the fastest-growing segment of the population, and at the same time, the number of people who can care for them is declining. The founders Tim Wagner and Ben Staudt thus perceive an urgent need for digital tools to increase the efficiency of elderly care to avoid a collapse of the generational contract.
Through its emergency software for elderly users, Patronus is setting out to solve the user adoption challenge in digital elderly care. The Berlin-based startup intends to now expand its user base to family carers and other stakeholders to build a comprehensive collaboration software for everyone who cares for an elderly person.
About Cavalry Ventures:
Cavalry Ventures is a Berlin-based venture capital firm that backs bold tech entrepreneurs. Founded in 2016 by a group of seasoned entrepreneurs, Cavalry is a first-check investor and initially invests in European pre-seed or seed-stage technology companies, across the enterprise as well as consumer spaces. Through a dedicated platform team, Cavalry aims to connect its entrepreneurs to investors, engineers, academics, executives, industry experts, and others to create the optimal ecosystem for its portfolio companies to thrive. Cavalry has backed more than 50 companies, including Forto (backed by Softbank), Bryter (backed by Tiger Global, Accel), Rekki (backed by Benchmark, Atomico), PlanRadar (backed by Insight), and Clarisights (backed by Sequoia).
Patronus addresses the danger that elderly people end up in an emergency situation without getting any help by offering software that turns smartwatches into digital watches for the elderly. The watch software enables 24/7 access to an emergency call center and can be used both at home and on the move. The startup intends to offer as a next step a family app, which allows family members to check on the well-being of their elderly loved ones at any time. In the future, the app shall become accessible to a wider circle of caregivers, such as in-home caregivers, nursing homes, and doctors.
VOY is a law firm and tax consultancy for founders and investors creating a digital client experience that focuses on additional value with direct and uncomplicated legal advice of the highest quality.