Eldercare startup Age Care Labs has raised ₹85 Cr (about $9 Mn) in a Series B1 funding round, part of its larger Series B raise of ₹250 Cr ($30 Mn), which is expected to close in the first quarter of 2027
The funding round saw participation from Shrem Group, Rainmatter by Zerodha, Pegasus Finvest, and several family offices
The startup plans to use the fresh capital to expand its eldercare services, strengthen its technology platform, enhance its healthcare capabilities, and support its expansion across India
Eldercare startup Age Care Labs has raised ₹85 Cr (about $9 Mn) in a Series B1 funding round, part of its larger Series B raise of ₹250 Cr ($30 Mn), which is expected to close in the first quarter of 2027.
The funding round saw participation from Shrem Group, Rainmatter by Zerodha, Pegasus Finvest, and several family offices.
The startup said it will use the fresh capital to expand its eldercare services, strengthen its technology platform, enhance its healthcare capabilities, and support its expansion across India.
Founded in 2019 by Lumis Partners under the leadership of Saumyajit Roy, Age Care Labs operates eldercare brands Emoha and Epoch Elder Care.
Emoha provides at-home care for senior citizens, offering services such as 24/7 emergency support, health monitoring, telemedicine, hospital assistance and wellness programmes to help them live independently.
The startup entered the assisted living segment in 2021 by acquiring Neha Sinha-cofounded Epoch Elder Care, which operates asset-light care homes focused on assisted living, dementia care, rehabilitation, palliative care and long-term support.
As part of the funding round, Shrem Group has partnered with Age Care Labs’ Emoha brand to launch Shremoha, a premium senior independent living platform aimed at India’s growing elderly population.
The platform will develop hospitality-led senior living communities that combine independent residences with preventive healthcare, wellness programmes, emergency response, community engagement and coordinated care.
It will leverage Shrem Group’s expertise in real estate, hospitality and infrastructure alongside Emoha’s eldercare capabilities.
Age Care Labs competes with startups such as KITES Senior Care, 60Plus India, Alserv, Khayal, GenWise and Ratan Tata-backed Goodfellows. It has raised over $20 Mn to date from the likes of Lumis Partners, Rainmatter, Gruhas, KOIS Invest and several prominent family offices.
This comes amid rising demand for organised senior living communities as India’s ageing population grows, life expectancy increases and family structures continue to evolve.
The fundraise also reflects growing investor interest in India’s eldercare sector as the country’s rapidly expanding senior citizen population increases the need for organised eldercare and senior living services.
According to the India Ageing Report 2023 of the United Nations Population Fund (UNFPA), India’s population aged 60 and above is expected to rise to 347 Mn by 2050. By 2046, the population of elderly people is projected to exceed those aged 0-15 years.
India’s senior living market is currently estimated at $4.47 Bn and is expected to grow to $14.14 Bn by 2031.
Source: Inc42 - Startups
