Age Care Labs Raises $11 million in Pre-series B Funding Age Care Labs with the raised funds is looking to expand its presence in the country, while investing in its product and technology.
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Age Care Labs, an elder-support start-up, has raised USD 11 million in a pre-series B funding round led. The round saw participation from Rainmatter Capital, Gruhas,and Lumis Labs.
Lumis Labs anchored the Age Care Labs in 2019 with Saumyajit Roy. The start-up offers elders and their families a comprehensive package of benefits across health, engagement and emergency support across India through its Emoha brand. In 2021, Age Care Labs acquired Epoch Elder Care, a start-up offering elder care homes focused on assisted living and dementia care. Epoch is co-founded by Neha Sinha.
Between Emoha and Epoch, the start-up is providing "the full continuum of care for elders across all ages and health conditions"
Angel investors who participated in the round include Everstone Capital's Alok Oberoi; Ajay Srinivasan,former chief executive of Aditya Birla Capita; Ari Sarker, president Mastercard Asia Pacific; and Rajest Sud, Bharti enterprise Managing Director.
"The funds specifically are being used for expanding deeper across different parts of the country (including the eastern and western parts) on the Epoch side, as well as to be able to expand the depth and width for Emoha," adds Saumyajit Roy, Co-founder and CEO, Emoha.
Age Care Labs with the raised funds is looking to expand its presence in the country, while investing in its product and technology.
"The idea as we expand is also to become lighter, which means that we take the service to other real estate players or other retirement communities and plugin as a service provider," said Neha Sinha, co-founder and CEO, Epoch.
Presently, the Gurugram-start-up is heavily prioritising North India and has presences across 120 towns and cities in the area.
