Agetech startup Kites Senior Care has raised Rs 45 crore ($5.4 million) in its Series A round led by Ranjan Pai, chairman of Manipal Education and Medical Group (MEMG) through his family office.
Previously in January 2023, Kites had raised Rs 14 crore in a pre-series A round from Ranjan Pai.
The proceeds will be used to deepen its presence in cities like Bengaluru, Hyderabad, Chennai, while also facilitating expansion into three additional cities across Southern India, the company said in a press release.
Founded in 2016 by Rajagopal and Reema, Kites Senior Care specialises in a range of geriatric services including post-operative and post-hospitalisation rehabilitative care, palliative care, dementia care, and respite care, both within care facilities and at the residences of senior citizens.
Currently, the startup has a team of 400 care professionals, which is expected to grow to over 1,500.
Further, the Bengaluru-based firm has plans to use the newly raised capital to augment its bed capacity to over 1,000 within the next six quarters, up from the current number of 340. Also, it aims to complete the pilot expansion of its tech platform ‘seniorshield,’ leveraging wearable technology from Titan Fastrack.
Besides Kites Senior Care, Samarth Life, Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness and GenWise also operate in the agetech space.
