Magic Vision lands €600K for AI-powered monitoring solution Silver Eye

Italian deeptech firm Magic Vision has secured €600,000 in funding to advance its AI-driven monitoring solution, Silver Eye. The venture, co-founded by Federico Lanzani in 2023, specializes in artificial intelligence and computer vision technologies to aid elderly care and independent living. With the injection of capital, Magic Vision plans to roll out Silver Eye, a system that utilizes AI and environmental sensors to monitor for falls, behavioral changes, and potential risks without requiring users to wear any devices.

The technology processes data locally through edge AI, ensuring privacy by not storing or transmitting images. Magic Vision's primary focus is on residential settings, including private homes and care facilities, where it analyzes activity and rest patterns to detect anomalies and alert caregivers. The company's founding team, including co-CEOs Lorenzo Mauri and Federico Lanzani, developed Silver Eye after Lanzani's grandfather experienced a fall that went unnoticed for a day.

This incident sparked the idea for a technology that could prevent such occurrences without relying on traditional wearable devices or emergency buttons with limited functionality. Magic Vision has already deployed the system in pilot and commercial projects across Italy, with over 200 sensors installed and plans to monitor more than 100 people by the year's end.

As the global population ages, the demand for care services is increasing, with limited staffing and resources posing challenges for care providers. Magic Vision aims to address this by enabling new care models that support independent living for older individuals while providing peace of mind for families and care professionals.

Looking ahead, the company plans to secure additional funding to expand its network of partners and distributors within Italy and enter European markets.