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Raccoon.Recovery

Software and devices for telerehabilitation

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

Date of last change: 17.09.2020
Min investment
$  100.000
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Collected
Total required
$ 80.000
$ 1.000.000
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Idea

We provide rehabilitation centers with software and devices for telerehabilitation to treat people after injuries and neurological diseases. Raccoon.Recovery solution is beneficial for patients during all stages of physical rehabilitation. To control physical exercises, we provide sensors, and during the lockdown, patients can use their smartphones instead of sensors.

Current Status

The company works on the German and Polish markets.
Raccoon.Recovery is CE certified as medical product and GDPR compliant.

Among our customers are
• Insurance company PZU Group
• Network of rehabilitation centers at the German Olympic Committee
• Max Planck Medical Institute in Germany

At the moment, the company is preparing documents for the insurance program in Germany, according to the Digital Health Law (DVG), which will make it possible to be fully covered by insurances on the German market.

About the project in numbers:
• Design Concept - December 2017
• Launching a rehab solution for hands - August 2019
• Launching a rehab solution for full body - April 2020
• Revenue in 2019 - € 112K
• Forecast for 2020 - € 700K
• LTV 24 months
• IPO - in 3-4 years
• Clients in April - May 2020 - +41 clinics and +280 patients

Market

Our customers are physical rehabilitation centres (public and private, outpatient and inpatient) and insurance companies. As a part of scaling, we also consider B2C sales.

Target markets are divided into two groups: markets with a developed insurance system (e.g. Germany) and markets where patients pay out of pocket. For the first group, the company sale through insurance companies, government programs and associations, and for the second group, distributors and digital marketing are the best channels.

Target countries in 2020: Germany and Poland.

Problem or Opportunity

Every year more than 275M people need long term physical therapy, according to the WHO data. There are 700 patients per 1 PT each year, while the maximum serviceable quantity is 300, according to the WCPT. Moreover, 7 out of 10 people do not reach their therapy goals due to outdated rehabilitation methods and misunderstanding of course progress.

Solution (product or service)

Raccoon.Recovery is an online platform for physical rehabilitation after injuries and neurological diseases that provides value for every stakeholder. Thanks to automation, digitized examination and remote monitoring, physiotherapists save time that results in up to +150% revenue increase for rehabilitation centers. With Raccoon.Recovery, insurance companies can forecast costs and course duration as well as reduce up to 60% expenses. Patients benefit from access to rehabilitation from anywhere in the world, gamified rehab courses with measurable results and reach 3x better outcomes from physiotherapy.

Raccoon.Recovery makes it possible to conduct a digital examination, conduct a rehabilitation course, perform exercises, play games for therapy needs, watch therapy videos, monitor patient progress remotely, and there is also a built-in messenger for communication between the patient and the therapist. To control the correctness of the exercise, patients can use additional sensors or install the application for tracking movements on their phone.

Competitors

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

Disadvantages of existing solutions:
- bulky and intended only for use in the clinic, not suitable for telerehabilitation
- there is no gamification to involve patients in the rehabilitation process
- there is no monitoring to evaluate the effectiveness of therapy
- not suitable for all stages of rehabilitation

Advantages or differentiators

1. Automation of patient examination and automation of reporting to save therapists time
2. Recommendations for the therapist on creating and adjusting courses based on ML to save therapists time
3. Expanded examination of patients to understand the holistic picture of the patient's conditions
4. Goal-oriented rehabilitation (eating, running or playing tennis on your own)
5. Integration with existing games to motivate patients and involve patients in the process

Invested in previous rounds, $

Business model

Raccoon.Recovery is available by subscription. The clinic pays monthly fee for the number of users (the number of patients and therapists who used the solution in a month).

Depending on the functionality, the monthly subscription for one user is 9.99 / 19.99 / 49.99 euros.

The average monthly check from the clinic is 1157 euros.
The average CAC is 1000 euros.

Money will be spent on

Business scaling

Offer for investor

Convertible loan with conversion with evaluation based on achieved KPI

Mentors & Advisors

Incubation/Acceleration programs accomplishment

• H+ Digital Health Innovation programme 2020
• 500 Startups Accelerator 2020
• MIT Enterprise Forum CEE 2019
• Startupbootcamp Digital Health Berlin 2018
• 10-week program from Y Combinator school 2018
• Crowd Inc. International Business Program 2018
• US government IT support program SABIT 2018

Won the competition and other awards

• Horizon 2020 SME Instrument Phase 2 - Seal of Excellence
• Top 12 Most Promising Tele-Rehab Projects Based on a Fortune 100 Analysis
• 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
• Horizon2020 2018 - a grant from the European Union in the amount of 50 thousand euros
• CRDF Global - business grant 5000 dollars
• Vernadsky challenge 2017 - we won the audience award with a prize fund of 200 000 UAH

Invention/Patent

Raccoon.Recovery has identified several objects of IP. Applications for registration of intellectual property are submitted through the Ukrainian Intellectual Property Institute according to international conventions. Based on them, applications for registration of IP in the countries will be submitted.

1. Patent for invention. Raccoon.Recovery patentability primarily lies in the novelty and inventive character of the rehabilitation method thanks to an integrated approach to collecting and analyzing 7 data groups, on the basis of which a goal-oriented personalized course of physical rehabilitation for each patient is estimated and then adjusted in the real time due to the progress or regress of each patient.

2. Industrial design. The team worked for a long time on the ergonomics of their devices by testing different shapes, fixtures, texture and weight to make it as easy to use as possible. Therefore, Raccoon.Recovery wants to protect the appearance of the hardware.

3. Trademark. The company cares about branding and plans to provide API under company own brand.

Photos

Photo 1 - Software and devices for telerehabilitation
Photo 2 - Software and devices for telerehabilitation
Photo 3 - Software and devices for telerehabilitation
Photo 4 - Software and devices for telerehabilitation
Photo 5 - Software and devices for telerehabilitation

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video