Funding for an app tailored for people with dementia helping unpaid caregivers
£ 700,000 raised for an app tailored for people with dementia helping unpaid caregivers.
Memory Lane Games secures funding to improve lives
Isle of Man-based health tech startup Memory Lane Games has just secured £ 700,000 to improve the quality of life for caregivers and people with dementia.
This investment follows a round of funding of £ 285,000 in 2020. With financial backing from the Isle of Man government, this brings the company to over £ 1million raised since its inception in 2019.
Founded by Bruce Elliott, Peter Quayle and Tom Coldwell on the Isle of Man to help connect with their own family members, Memory Lane Games now has more than 30,000 users worldwide. The app offers free, easy-to-use activities for reminiscence and life history work, recognized as a key dementia management tool by the NHS.
Post-diagnostic care fund
The founders noticed a big investment in the early detection of dementia, but very little in post-diagnostic care. For the millions of families affected by dementia around the world, there is little practical support available.
By 2025, 1 million people in the UK will be living with dementia. Care for people living with the disease is underfunded and underfunded, with 1 in 10 care roles in the UK unmet. Families and friends often provide unpaid care, but it can be a difficult experience. To ease the burden, the simple and frustration-free activities at Memory Lane Games tap into long-term memories, which can be heartwarming for people with dementia.
The funding, which includes investments from several international family offices in the UK, Europe and Canada, will support new hires and build the company’s game development capabilities. The launch of AI-powered personalization tools will create a freemium app model to generate revenue and support the launch of B2B offerings for nursing homes and home help groups. Greater scale will come from corporate ESG programs volunteering to create games, with partners such as KPMG and Concept Recruitment already involved.
In addition to the goal of consumer growth, in the long term, Memory Lane Games seeks to become a globally prescribed intervention, building on the success of prescription status for cognitive exercises performed in the Philippines for people with dementia. of dementia and stroke. There is currently no other prescription available for dementia without side effects. Speech-language pathologists have also adopted the intervention to support their therapies, and Memory Lane Games intends to work closely together to support this group.
Pilot clinical observation study
Measuring impact is a top priority for the founders, Bruce Elliott, Peter Quayle and Tom Coldwell, and the company is therefore also preparing for a clinical observational pilot study to measure the impact on the quality of life of people living with the disease and their caregivers, as well as working closely with Alzheimer’s Disease International on case studies for subsequent international adoption.
Bruce Elliott, Co-Founder and CEO of Memory Lane Games, said:
“Memories are a lifeline for people with dementia and their caregivers. We are committed to improving post-diagnosis dementia care for the 850,000 people living with the disease in the UK and 50 million worldwide. This funding will allow us to take our technical expertise and user functionality to the next level. This will include enhancing our AI-powered capabilities to deliver a 360-degree care experience that connects family, caregivers and healthcare professionals with critical information to inform and improve management and support. a person living with dementia in their care. “
Sarah Pagan, Founder of Good Companion, said:
“I work closely with families in the community to provide practical support and companionship. I know from experience that family members find it so tragically sad when recent memories of loved ones are swept away by dementia, so being able to reconnect with old memories they share together using Memory Lane Games, how good is it magic? This app makes such a difference for people with dementia.