Intelligent Lilli EIS
Co-invest with West Hill Capital investors: digital health platform providing proactive remote monitoring for home care industry
DISCLAIMER: This overview is wholly based on the information available in the Private Placement Memorandum (PPM) prepared by the Company and West Hill Capital (WHC). Wealth Club has not reviewed, verified or audited this information. Post investment, WHC as the ongoing adviser to the Company is responsible for shareholder updates. Please read the PPM carefully to form your own view and ensure you wholly understand the potential benefits and risks.
The adult social care sector is chronically understaffed with an average of 165,000 care staff vacancies in 2021/22.
Despite increased spending, on average 13,600 hospital beds are occupied every day by people unable to be discharged purely due to a lack of suitable care packages. The UK’s ageing population is likely to make the issue more pressing.
Care providers are turning to new technologies, such as sophisticated monitoring care solutions, to help relieve pressures in the system and redeploy existing carer hours.
Intelligent Lilli Limited (“Lilli” or the “Company”) has created a SaaS platform that uses artificial intelligence (AI) to support safer independent living for vulnerable and older people in an efficient and cost-effective way.
The platform non-intrusively monitors the everyday patterns of vulnerable people’s lives in their homes and detects abnormalities, which could indicate a change in condition. By identifying these signs, Lilli can allow carers to act before a decline in health or problem worsens, facilitating better patient outcomes while generating considerable efficiencies and savings.
Over the last couple of years, Lilli has completed pilot projects with several local authorities across the UK, demonstrating for every £1 spent on Lilli, an organisation could save £9 as well as save thousands of carer hours, significantly increasing capacity.
On the strength of these findings, Lilli reports it now has an advanced pipeline of potential new customers and partners in both the public and private sector, which management hopes will deliver significant growth over the forecast period - not guaranteed.
Predicated on converting leads to customers, the Company is projecting revenue to increase from £0.4 million in the current financial year to £6.6 million and £0.9 million EBITDA profit in the year ending 31 December 2024 – forecast and not guaranteed.
To help fund its growth, Lilli is now seeking to raise £2.5 million under EIS. The arranger of the fundraise and ongoing adviser to the Company, West Hill Capital (WHC), launched this round on 19 October and has received £1.67 million in commitments so far.
The Company’s latest plan forecasts revenues rising up to £49 million by 2028, with EBITDA of £21 million – these are forecast and not guaranteed.
The Company is behind its original plan as it has taken longer to complete the comprehensive pilot projects needed to obtain sufficient data. Now the Company has evidence of how the technology performs, so plans to convert its advanced pipeline and catch up with its original targets.
Based on the Company’s revised forecasts, the target return is 9.1x from 2028 – high risk and not guaranteed. The minimum investment is £20,000 (normally £50,000) and you can see how to apply online.
Before investing, please read the PPM carefully to form your own view and ensure you are comfortable with the considerable risks.
You are now able to apply
Please read all the offer information first
The Company is seeking to raise £2.5 million in this EIS qualifying offer at £4.00 per Ordinary Share – this is the same price as the last round in 2022. This is equivalent to a fully diluted pre-money valuation of £30.4 million.
EIS investors in this round are investing in Ordinary Shares. Please read the PPM carefully for more details.
This private offer is being arranged by WHC, which will also be responsible for shareholder updates post-investment. Wealth Club will endeavour to ensure all investor queries are dealt with in a timely manner.
Risks – important
This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.
Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.
There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realized return on your investment.
Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief. The value of tax benefits depends on circumstances and tax rules can change.
Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.
Structure and fees
Investors will pay no direct initial or ongoing charges to invest. Fundraising costs are being met by the Company. Please refer to the Schedule of Charges for more details.
To invest, you will need to already be an Elective Professional Client of West Hill. The investment will be held via a nominee structure through Aldbridge Nominees (Woodside).
Register your interest
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.
- Single company
- Target return
- Funds raised / sought
- £1.8 million / £2.5 million
- Minimum investment
- Limited capacity