SOLD
Hilco Streambank (“Hilco”) is seeking offers to acquire the intellectual property assets of Kraydel Limited (In Liquidation) (“Kraydel” or the “Company”) on behalf of the Liquidator of the Company, Seamas Keating of FPM Accountants Limited.
Loneliness and social isolation in older adults are serious public health risks affecting many people internationally and putting them at risk for dementia and other serious medical conditions. Founded in 2016, Kraydel developed its innovative, intuitive smart device, Konnect, designed to reduce isolation and maintain independence for older adults through TV video calling and remote health and well-being monitoring.
Developed in-house by a skilled team of specialist product designers and software engineers, Konnect is the product of over 12 months of focused research and development and over £45k in investment to enhance and refine the current iteration of the technology. The Konnect video-calling system is designed to engage users who may not be comfortable using SmartScreen devices. The Company’s solution allows users to easily make and accept video calls from mobiles, tablets or PCs and to share photos and videos with their closed network of supporters via the Konnect App (the “App”) (available on Android and IOS), such as family, friends, healthcare professionals and carers. Operating via Wi-Fi or mobile signal, the Konnect system employs built-in environmental sensors and health devices such as oximeters, blood pressure monitors, and activity monitors to remotely monitor the activities and well–being of its users, all whilst ensuring their independence.
In 2018, with the backing of international investment firm Hambro Perks, seed investor Techstart and global health and life reinsurer RGAX, the Company developed a prototype of the Konnect system, which entered trials in December 2019, showcasing the business and its product to a range of influential public and private sector, who complimented the product and the Company’s approach to tackling the issue of social isolation in older adults. Kraydel gained excellent exposure and insight from its trials, and following these trials, the Company successfully launched the Konnect system across the UK, with numerous deployments with hospitals, care homes and charities. The Company had also entered advanced discussions with several blue-chip multinational organisations fascinated by the technology and supportive of the Company’s vision.
Evidence reveals that social isolation and loneliness hinder good health, putting older adults at risk for high blood pressure, heart disease, obesity, a weakened immune system, anxiety, depression, cognitive decline, Alzheimer’s disease, and even death.1 Technology has the potential to assist with relationship maintenance, social capital access, and even emotional support. This opportunity offers a prospective buyer the chance to acquire the intellectual property assets behind a business striving to navigate the crisis of social isolation and loneliness in older adults.
Approaching a decade old, the Kraydel brand is widely known and respected, particularly within the homecare market. The brand has distinguished itself within the market, offering a revolutionary, remote homecare solution.
Faith in the brand was boosted by the Company’s selection for the Homes for Healthy Ageing programme – a UK Government-backed scheme designed to showcase the most innovative solutions to healthy ageing challenges.
The brand has attracted strong industry support, including c. £2.5m in cumulative investment and support from the global leader in home networks, CommScope, and the UK government-backed SME investment bank, the British Business Bank.
Strong recognition by those influential in the market has also boosted the brand, including the support of various educational institutions, healthcare providers and clinicians.
Various media outlets have publicised the brand, including Forbes, the Belfast Telegraph, Digital Health, Silicon Republic, and Business Wire.
The Company holds several registered trade marks protecting the “Kraydel” brand name and icon, with UK and international coverage.
The Company likely holds unregistered rights in the “Kraydel” logo and the “Konnect” brand name and logo.
A full trade mark schedule is available via a virtual data room.
The software behind the Company’s innovative Konnect products and system is available to acquire, including source code, object code, databases and electronic data compilations.
The copyright in the Company’s Konnect-branded IOS and Android App is also available to acquire.
The Company’s patent portfolio covers its method for reminder delivery via TV, the use of frequency of human utterances to detect problems, and differentiation of real-world from reproduced sound, with granted patents and pending patent applications across a wide range of territories.
The Company holds a portfolio of domain names, including the primary kraydel.com domain name, which hosts the Company’s attractive and vibrant e-commerce website. A full domain name schedule is available via a virtual data room.
The Company owns the copyright in the website content hosted at https://www.kraydel.com/.
Rights in the Company’s social media accounts are also available to acquire across Instagram, Twitter and LinkedIn.
All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to gain access to a virtual data room of further information on signing a confidentiality agreement.
The Liquidator acts as an agent of the Company and without personal liability.
The bidder acknowledges that Hilco acts as an agent for the Liquidator who offers for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Liquidator and bidders are deemed to have carried out their own due diligence.
VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. Legal completion to occur within 5 business days of bid acceptance. Hilco’s full Terms and Conditions apply.
