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Raccoon.Recovery

Goal-oriented physical rehabilitation tool based on gaming

Ukraine
Market: Internet and IT, Medicine, Robotics, Gadgets , Artificial Intelligence
Stage of the project: Operating business

Date of last change: 16.08.2019
Min investment
$  50.000
Collected
Total required
$ 80.000
$ 700.000
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Idea

The goal of Raccoon is to create 100% independent digital physiotherapist called Raccoon.Recovery and make efficient, engaging and timely physical rehabilitation accessible to everyone in the world. Raccoon.Recovery is a goal-oriented physical rehab tool based on Big data, ML and video gaming to treat patients after accidents and neurological diseases.

And as a result we help increase revenue for rehabilitation centres up to +150%.
We want to disrupt industry with the help of innovations, help people to recover and earn money for us and for our customers-rehab centers.

Current Status

Using Raccoon.Recovery will be possible for the whole body. We started with hand rehabilitation, as we have experience in creating game controllers and hands are an integral part for the patient to take care of himself.

In June we presented our solution at Hand therapy international exhibition in Berlin IFSSH and got requests from over 30 rehabilitation centers worldwide to present the solution and implement it for trial testing. In addition, the solution has already been implemented in 3 rehabilitation centers in Germany and 10 more are waiting for a solution to be implemented into the rehabilitation process.
The patient can be monitored by the physiotherapist whilst doing physiotherapy tests and playing video games with body movements instead of using mouse or keyboard.

Achievements of Raccoon:
In addition to private rehabilitation centers, already interested in Raccoon.Recovery:
- a network of rehabilitation centers at the German Olympic Committee
- world famous institutions “Charite” and Max Planck
- World Health Organization
- two largest insurance companies paying for medical services in Germany (AOK and TC).
• Become a member of the European Connected Health Alliance.
• Became the ninth Ukrainian startup in the history of the Horizon 2020 program, which managed to get a grant.
• Became graduates of Y Combinator startup school.
• Passed the acceleration program in the German accelerator Startupbootcamp Digital Health Berlin, which is among the top 5 best accelerators in the field of MedTech.
• We hit the top 12 most promising telerehabilitation projects based on an analysis made for the Fortune 100.
• Became the winner of Startup World Cup Ukraine and the first Ukrainian startup participating in the Startup World Cup final.

Market

We target a rapidly growing market:
• patients:
15M people annually need physical rehabilitation after injuries and neurological diseases;
rising prevalence of cardiovascular, musculoskeletal, and neurological diseases, coupled with the increasing elderly population;
• physiotherapists:
among TOP 3 lacking professionals on the market due to long costly education and low salaries;
• money:
market was evaluated 18.6 billion in 2018 is growing with CAGR of 7.2%[Physiotherapy Equipment Market Size, Share & Trends Analysis Report]. The lost profit of our customers will continue to grow year by year.

Problem or Opportunity

7 out of 10 among 15M people who annually need physical rehabilitation after injuries and neurological diseases do not recover well. That’s why every year in EU and US rehab centres are losing 21B euro.
The patients drop out of the course because they mix ineffective, non-controlled and pretty boring treatment (therapy is not working and is boring). They cannot do their job to make a living and even eat on their own or hold someone they care.

Those millions of patients require rehabilitation to return to fulfilling life.

Moreover, the number of elderly people is expected to double by 2050, when it is projected to reach nearly 2.1 billion. Age brings aches and pains and ensuring a happy, healthy life requires being active and exercising. Physical therapy is a way of making this possible for elderly people.

Solution (product or service)

Raccoon.Recovery is a goal-oriented physical rehab tool based on Big data, ML and video gaming to treat patients after accidents and neurological diseases.
We use:
• gaming to motivate and increase the quantity of repetitive movements;
• Machine Learning algorithms to form precise courses without human mistakes and forecast treatment;
• collect Big rehab Data and create digital Esperanto in physiotherapy;
• tracks psycho-emotional condition and analyze its influence on effectiveness of rehabilitation.
And as a result we help increase revenue for rehabilitation centres up to +150%.
We want to disrupt industry with the help of innovations, help people to recover and earn money for us and for our customers-rehab centers.

Competitors

Current solutions in the telerehabilitation market cannot fully address all pain-points of people who need physical rehab and physical rehabilitation centres. There are 4 major types of solutions in the physical rehabilitation market based on the technological advancement:
1) electronic devices,
2) computerized devices,
3) simple mechanical devices,
4) no supervision exercises.
The main competitors are:
Rapael https://www.neofect.com/en/product/rapael/
FitMi https://www.flintrehab.com/product/fitmi/
Eodyne https://www.eodyne.com/neurorehabilitation-after-brain-damage/
Bimeo Pro http://www.kinestica.com/bimeo-pro.html
Tyromotion https://tyromotion.com/en/products/pablo.
Although being relatively cheap mechanical devices are usually big and designed to perform just one exercise. Those exercises become repetitive and eventually boring for a patient. Obviously, they cannot collect and process data about patient’s exercise. Raccoon.Recovery propose new generation of physical rehab device for engaging rehab process and automation.
Compared with Raccoon.Recovery, expensive electronic and bulky computerized devices do not imply neither monitoring of correctness of doing exercises nor remote treatment and allow conducting only 1-2 tests. These devices may have only small variety of simple specially developed games, which becomes boring for patients, and motivation issue persists.
In addition, to protect itself from competition Raccoon.World will provide API to partners and competitors to create and forecast rehabilitation courses and an API for embedding controllers in rehabilitation systems. Thus, it will be more profitable, faster and cheaper for competitors and corporates to collaborate with Raccoon.World than to develop such a solution by themselves. Moreover, providing API to third parties, Raccoon.World replenish their own Big Data and improve ML and AI algorithms.

Advantages or differentiators

1. Raccoon.Recovery can be used on any existing software and video games.
2. Our personalized and goal oriented solution helps to reach patient's goals of choice; whether it is cutting up a salad or playing the piano.
3. We use Big Data and Machine Learning to create mistake-proof courses.
4. The treatment plan is flexible, saves rehab specialists time and provides real-time tracking.
5. We do the same tests as our competitors. but we also are able to transform data according to international standards of ICF.

Finance

Until July 2019 total raised - $377.4K from Business Angels and $67K as grants, including a grant from Horizon2020.
Our financial perspectives are quite promising. According to our plan that is verified by the European Commission, we are going to generate 43B dollars revenue till the end of 2023.
To do this according to our plan, we are looking for $700K now (including $80K that is already raised). Till July 2020 we plan to receive $700K revenue and we already have commitments by $128K till the end of 2019.

Invested in previous rounds, $

Business model

B2B, subscription fee. As customer segments we consider public and private rehabilitation centers (both outpatient and inpatient) and self-employed rehab specialists.
Rehab centers prescribe our device and application to the patient as a part of their rehab course. We receive a subscription fee from the centers per patient.
We already entered the German market with a simple model of our product with class 1 CE certification while we are training our ML and doing trials for CE Class 2a.
Taking into account specifics of German rehab market (independence and self-government of medical institutions) most sales will be direct, but we are also going to do sales via distributors and vendors and are already in negotiating with them.
The first product will be cheaper and will have different flexible business models according to the needs of our first clients.
We consider scaling: Germany, Poland, Other EU countries, USA, Worldwide.

Money will be spent on

We aim at scaling as quickly as possible.
For this is necessary to increase the team in order to support users and introduce them to new markets. Therefore, by the end of this year, we plan to increase the staff to 18 people (Support, Marketing Managers, Sales Managers, Developers, Engineers and other), and by the middle of next year, our team will consist of 23 people.
We need the finances received in the coming year for rapid growth and successful competition. But also we would like to expand our customer network. And we strive to ensure that our solution will be reimbursed by insurance companies.

Offer for investor

Share as per current company valuation. Or convertible debt.

Mentors & Advisors

Incubation/Acceleration programs accomplishment

Startupbootcamp Digital Health Berlin 2018 https://www.startupbootcamp.org/accelerator/digital-health-berlin/

10 week program from Y Combinator school https://www.startupschool.org/companies/Raccoon?fbclid=IwAR2C0rC-oi7usIWLvSEjzREZtf19A2JsX9R6nQdDq9jaz3bEXnHonK2ZsEQ

2-day program in Riga Bootcamp of Buildit Accelerator https://www.buildit.lv/

Acceleration online program Crowd.Inc 2018 https://crowdinc.me/

US Government IT Support Program SABIT IT 2018 https://www.trade.gov/sabit/

Startup kitchen https://www.youtube.com/watch?v=NZ3683RYBHU

You do not succeed https://www.youtube.com/watch?v=Q7MYNtztkI4

Won the competition and other awards

• TOP 40 European Startups in European health investment forum in Helsinki 2019;
• Finalist of Grand Pitching show on Wolves Summit Poland 2019;
• Winner of Startup World Cup Ukraine 2019;
• TOP 12 SME - Empowering Women Innovators by The European Innovation Council 2019;
• Horizon2020 2018 - a grant from the European Union in the amount of 50 thousand euros;
• Top 12 Most Promising Tele-Rehab Projects Based on a Fortune 100 Analysis;
• CRDF Global - business grant 5000 dollars https://www.crdfglobal.org/;
• Vernadsky challenge 2017 - we won the audience award with a prize fund of 200 000 UAH;
• CES (Las Vegas) - Raccoon won the opportunity to participate in the CES electronics trade show in Las Vegas https://investgazeta.info/news/item/1077-sformirovana-ukrainskaya-sektsiya-v-ramkakh-ses-2017;
• Startup Battle Intercontinental - 1st place http://btl.startup.network/e785/;
• Startup Battle Ukraine - Poland - 1st place https://startup.ua/news/5-0-sbornaya-startapov-ukrainy-s-razgromnym-schetom-pobedila-sbornuyu-polshi;
• Wegame 2.0 - participated in the festival https://www.youtube.com/watch?v=4sMDsAkOp-I.

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Idea
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Finance
Invested in previous rounds, $
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