In a recent development, elder care startup Samarth Life has successfully raised Rs 12 crore (approximately $1.45 million) in a funding round led by Aroa Venture Partners. The investment marks a significant milestone for the Gurugram-based company, signalling its potential for growth and expansion in the burgeoning elder care sector.
Founded by Asheesh Gupta, Gaurav Agarwal, Anuradha Das Mathur, and Sanjay Ahuja, Samarth Life is dedicated to providing comprehensive care services and customizable subscription plans explicitly tailored for elderly individuals. The startup’s innovative approach includes offering a lifestyle card in collaboration with insurance companies, ensuring that elderly citizens can access essential insurance benefits.
With a growing community of over 35,000 individuals, Samarth Life has positioned itself as a leader in the elder care market. Its subscription plans, ranging from Rs 200 to Rs 15,000 per month, cater to a diverse range of needs and preferences among the elderly population. The company has set ambitious revenue targets, aiming to achieve Rs 12 crore by the end of the year, a goal bolstered by the recent funding injection.
Aroa Venture Partners led the funding round and saw participation from Social Alpha and Zhooben Bhiwandiwala of Mahindra Partners, underscoring investors’ confidence in Samarth Life’s mission and business model.
Samarth Life’s success comes amidst a growing interest in the elder care space, with several other startups, such as Age Care Labs, Goodfellows, KareWise, and SeniorWorld, operating in the same domain. However, with its innovative services and strong market presence, Samarth Life is poised to emerge as a frontrunner in the industry.
Aroa Venture Partners, the lead investor in this funding round, recently launched a new fund with a target corpus of Rs 400 crore (about $50 million). Samarth Life’s funding marks the first investment from this fund, highlighting the venture capital firm’s commitment to supporting innovative startups with high growth potential. Previously, Aroa has backed notable ventures, including Unacademy, Urban Company, and CRED, further solidifying its reputation as a strategic investor in the startup ecosystem.
As Samarth Life embarks on its next phase of growth, fueled by the recent funding infusion, it is poised to enhance its offerings further and reach a broader audience of elderly individuals in need of compassionate and tailored care solutions. With the support of Aroa Venture Partners and other investors, the company is well-positioned to redefine the standards of elder care services in India and beyond.
