According to the Report of the Technical Group on Population Projections for India and States, there were nearly 138 million elderly persons in India in 2021 and this number is expected to increase by 56 million elderly persons by 2031. A majority of this population, about 16.5%, was recorded to be from Kerala, followed by 13.6% from Tamil Nadu, and Himachal Pradesh coming in third with 13.1%.
Seeing the magnitude of this segment, the age tech market has recently started scaling. This can be seen with the establishment of companies like Mumbai-based GoodFellows, Thane-based Khyaal, Bangalore-based Wisdom Circle, Delhi-based Genwise, and Gurgaon-based Emoha.
Duo Rahul Gupta and MP Deepu established SeniorWorld in 2014. The bootstrapped company primarily aims at providing a diverse range of products and services that help seniors live an active and independent life.
To promote the same SeniorWorld offers products and services like Easyfone – an easy-to-use phone for seniors with features like location and health monitoring and SOS button, Juvo Safety – safety and alarm devices to help reduce risk of injury, SilverWings Holidays – assisted and customizable travel plans for seniors, and a SilverWings app.
SilverWings Holidays largely offers international travel packages. Co-founder and COO of the company, Deepu said that around 90% of the tours are international and the rest are domestic. This is majorly due to the fact that their members have already had a chance to see the hot stops of the country but haven’t had an opportunity to travel internationally.
The company emphasized on the growth of its online community in the SilverWings app. Since its inception, the company has organized around 20 offline meet ups and 3000 virtual meet ups in the last two years. Most of these consist of activities like games such as Tambola, Antakshari etc and mental and physical enriching activities like light yoga and dance classes. The app so far has a community of 10,000 active members.
The community now has members from over 1000 pin codes across the country with 20% based out of Delhi.
Although the company did not reveal its FY22 and FY21 financials, it said that its pre-pandemic revenue stood at Rs 18 crore in FY19 and Rs 16 crore in FY18. SeniorWorld is in the process of raising its first round of funding with plans of closing it before the end of this financial year.