P2P Group secures first revenue from breakthrough hardware free AI aged care monitoring technology

Canadian consumer goods company P2P Group (CSE: PPB) has achieved the first revenue from the sale of multiple annual subscriptions to its cutting-edge InturAI aged care monitoring solution.

The initial order was placed by an Australia-based aged care technology provider, with the potential for over 42,000 subscriptions at target rollout prices of between $15 and $50 per subscription.

P2P believes its software-driven approach offers aged care providers an alternative to conventional systems.

Game-changing potential

P2P chief executive officer Ed Clarke said the first revenue milestone was a testament to the game-changing potential of the company’s technology.

“By removing the need for expensive IoT installations, we are lowering costs for aged care providers and significantly enlarging the addressable market with the benefits of improving patient safety and operational efficiency,” he said.

“With high-margin, recurring revenue initiated, we are now focused on scaling our aged care deployments while expanding into new high-growth verticals.”

Movement tracking

P2P’s artificial intelligence-powered spatial awareness technology employs standard Wi-Fi signals to track the movement of elderly clients, detecting falls and monitoring their well-being without the need for intrusive cameras or wearable devices.

It is powered by the InturAI software platform, which targets improvements in the cost of care and patient outcomes in consumer environments such as nursing homes by capturing important data such as activity levels, vital signs and health issues.

The technology has also attracted strong interest across other sectors including healthcare, home security and industrial applications.

InturAI acquisition

P2P acquired InturAI in July and expects it will eliminate aged care hardware dependency, offering providers a seamless, cost-effective and scalable solution.

For example, an aged care provider with 10,000 homes on its books could potentially remove the need for around 110,000 specialist IoT (Internet of Things) sensors, radars and trackers.

The same provider would previously have required more than 10 specialised IoT devices per home.

Technology experience

Mr Clarke joined P2P in August and has considerable experience in hyper-growth technology platforms, gained through his years with logistics software-as-a-service (SaaS) company Yojee.

He is renowned professionally for his ability to drive growth and foster a culture of innovation and has been involved with multiple publicly listed and private firms in the technology space.