Elder care platform Age Care Labs has secured $11 million in a pre-Series B round of funding led by Rainmatter Capital (Zerodha’s investment arm) and Gruhas (Venture Capital fund co-founded by Nikhil Kamath and Abhijeet Pai). The funding round also saw the participation of Alok Oberoi, Ajay Srinivasan and existing investor Lumis Partners.
The proceeds will be deployed towards expanding its presence across India, investments in product and tech for a better customer experience, and hunting acquisition opportunities indigenously, Age Care Labs said in a press release.
Age Care Labs’ business includes Emoha, which is focused on solving elderly health at home with emergency, health and engagement services. It also has a subsidiary in Epoch Elder Care, co-founded by Neha Sinha, which it acquired in August 2021.
Epoch Elder Care offers care homes specialising in assisted living and dementia care. With Emoha and Epoch, Age Care Labs provides health-care services for elders across all ages and health conditions.
Age Care Labs competes with the likes of Ratan Tata-backed companionship App for seniors, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, and ElderAid Wellness.GenWise, a startup founded by former executives of digital payment platform BharatPe, raised funds in its maiden round in June this year. Entrackr exclusively reported the development.