Elder Care Platform Age Care Labs Raises $11 Mn From Rainmatter Capital

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Elder Care Platform Age Care Labs Raises $11 Mn From Rainmatter Capital

Age Care Labs plans to use the freshly infused funds to expand its presence in the country, and for product development and tech innovation

In 2021, Age Care Labs acquired Epoch Elder Care which offers elder care homes focused on assisted living and dementia care. It also has a business called Emoha

Age Care Labs claims to have a presence across 120 towns and cities in north India

Elder care platform Age Care Labs has raised $11 Mn from fintech unicorn Zerodha’s investment arm Rainmatter Capital and Gruhas in a pre-Series B round. 

The round also saw participation from angel investors, including Everstone Capital’s Alok Oberoi, former chief executive of Aditya Birla Capital Ajay Srinivasan, president of Asia Pacific at Mastercard Ari Sarker, and Bharti enterprise managing director Rajesh Sud.

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.

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