In an extraordinary leap forward for elder care, Age Care Labs, a pioneering startup dedicated to enhancing the lives of senior citizens, has achieved a remarkable feat. The company has secured a staggering $11 million in a pre-Series B funding round, setting the stage for an exciting and transformative journey ahead. Rainmatter Capital, the investment arm of Zerodha, and Gruhas, a venture capital fund co-founded by the illustrious duo Nikhil Kamath and Abhijeet Pai, spearheaded this exceptional funding round. Notably, this round also witnessed the enthusiastic participation of prominent backers such as Alok Oberoi, Ajay Srinivasan, and existing investor Lumis Partners.
Age Care Labs, which operates the much-acclaimed Emoha platform, has announced ambitious plans to utilize this substantial investment. The company intends to accelerate its expansion across India, bolster its product and technology offerings to enhance the customer experience, and actively explore indigenous acquisition opportunities. With a firm commitment to its mission, Age Care Labs is poised to impact elder care significantly.
At the heart of Age Care Labs’ operations is Emoha, a revolutionary concept that addresses the challenges older people face in their homes. Emoha provides a comprehensive suite of services, including emergency assistance, healthcare support, and engagement activities, designed to improve the overall well-being of senior citizens. This platform’s innovative approach to elder care has earned it a special place in the hearts of families nationwide.
In a strategic move to expand its service offerings and capabilities, Age Care Labs acquired Epoch Elder Care in August 2021. Epoch Elder Care, co-founded by Neha Sinha, specializes in creating care homes tailored to the unique needs of seniors, particularly those requiring assisted living and dementia care. By integrating the services of Emoha and Epoch Elder Care, Age Care Labs has become a one-stop destination for holistic elder care services, catering to individuals of all ages and health conditions.
The Indian elder care landscape is evolving remarkably, with various innovative startups and services entering the market. Age Care Labs joins the ranks of Ratan Tata-backed companionship apps for seniors, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, and ElderAid Wellness. The competitive environment has only intensified the need for forward-thinking, comprehensive elder care solutions.
Notably, GenWise, a startup founded by former executives of the digital payment platform BharatPe, made waves in the industry earlier this year by successfully raising funds in its inaugural funding round.
The $11 million secured by Age Care Labs is a testament to the growing recognition and importance of quality elder care services. With its unwavering commitment to the well-being of senior citizens, Age Care Labs is on a path to redefine the elder care landscape in India and make a meaningful impact on the lives of countless families. As they embark on this journey with a significant boost from their latest funding round, Age Care Labs is set to be a beacon of hope for older people, providing them with the care, attention, and support they deserve. The future of elder care is here, and Age Care Labs is leading the way.
