Westfield makes Dragon's Den investment

Westfield makes Dragon's Den investment

Westfield health insurers have invested in a caring tech start-up originally showcased on Dragon’s Den.

The Sheffield-based health insurance company is the first to invest in 3rings, created by entrepreneur Steve Purdham, and is supporting the technology in its initial stages, as it is rolled out.

The product aims to support families who have older relatives living alone, by using an ‘Internet of Things’ smart plug and cloud service to connect to household appliances with a cloud messaging platform to provide reassuring updates about routine use.

3rings first caught the attention of the Westfield Health team when the tech entrepreneur appeard on BBC’s Dragon’s Den alongside his 84-year-old mum, Iris.

While the TV Dragons had been asked to invest £300,000 in exchange for a 10 per cent share, Westfield have invested more than double the requested funding and plans to incorporate the 2rings in catering for its customers.

David Capper, commercial director at Westfield Health, said:  “There is an emerging market for smart technology to support health, wellbeing and family care.

“The UK population is getting older and many of our customers are in the ‘sandwich generation’ - balancing work commitments, with caring for older family members and looking after their own children - 3rings technology has the potential to help.”

Over the next five years 50 billion objects are expected to be connected to the internet of things, opening up a new form of support for families.

Purdham added: “Our partnership with Westfield Health goes beyond the financial investment and we will be working together on innovative product development and distribution to take 3rings and family social care to its next phase.