GenWise, a lifestyle app for the elderly, raised $3.5 million in a seed round led by Matrix Partners India, with participation from investors including DBR Ventures (Family Office, Jagran Group) and Climber Capital, as well as angels like Kunal Shah, Suhail Sameer and Achal Mittal.
Entrackr had exclusively reported about GenWise upcoming funding in April this year. The funds will be used to establish the initial team and facilitate launch of the app, the startup said in a statement.
Founded by former BharatPe executives Geetanshu Singla, Nehul Malhotra and Rajat Jain, GenWise provides a dependable companion to seniors, even in the absence of their younger family members. It helps younger family members stay connected with their parents or senior ones while giving elders the independence to use technology and access customized solutions on their own.
Initially, GenWise will launch as an exclusive, invite-only community, promising an intimate and personalised experience for early adopters. As the app gains traction, the team will roll out additional features and widen its reach to a larger audience.
Besides GenWise, a bunch of elder care startups such as SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and Goodfellows are also working in this space.
Matrix announced its India dedicated fund in June last year and made a final close at $550 million. The new fund has backed Saveo, Murf AI, XimKart, ZippMat, among others.
