Elder care startup Samarth Life raises new round led by Aroa Venture

Elder care startup Samarth Life has raised Rs 12 crore (approximately $1.45 million) in a funding round led by Aroa Venture Partners. Social Alpha and Zhooben Bhiwandiwala of Mahindra Partners also participated in the round.

Samarth Life plans to use the funds to drive its growth and expansion initiatives.

Founded by Asheesh Gupta, Gaurav Agarwal, Anuradha Das Mathur and Sanjay Ahuja, Samarth Life offers comprehensive care services and customisable subscription plans for elderly individuals. The Gurugram-based startup also offers a lifestyle card, by collaborating with insurance companies to provide insurance benefits for elderly citizens.

The firm claims that it caters to a community of over 35,000 individuals, with subscription prices ranging from Rs 200 to Rs 15,000 per month and aims to achieve a revenue of Rs 12 crore by the end of this year.

Besides Samarth Life, Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness and GenWise also operate in the same space.

Venture capital firm Aroa Venture Partners recently launched a new fund with a target corpus of Rs 400 crore (about $50 million) and Samarth Life will be the first investment from the fund.

Previously, Aroa had backed Unacademy, Urban Company and CRED.