Mumbai-based Khyaal has recently garnered attention for securing over $4 million in seed funding from investors such as 62Ventures, SVQuad, Inventus Capital, and Everywhere Ventures.
Established in 2020, Khyaal stands out as a platform dedicated to serving senior citizens. It offers a range of services, including live workshops, interactive games, secure payment options, on-demand assistance, exclusive offers, curated travel packages, and more, tailored for seniors aged 55 and above.
We had the opportunity to speak with Hemanshu Jain, the co-founder and CEO of Khyaal, to delve deeper into the platform’s features and its impact. Here are the key points from our conversation:
**1. Inspiration behind Khyaal:** The idea for Khyaal emerged from personal experiences, particularly the realization of the significant role technology could play in supporting seniors’ daily needs and independence. Hemanshu Jain’s interactions with his father, who often needed assistance for routine tasks while he was traveling, highlighted the need for a platform like Khyaal.
**2. Significance of platforms like Khyaal:** Platforms like Khyaal play a crucial role in addressing the unique challenges faced by seniors in the modern era. These challenges include loneliness, digital literacy, online safety, access to assistance, misinformation, and the need for engaging activities.
**3. Growth and achievements:** Despite being founded during the pandemic, Khyaal has experienced rapid growth. It began as a WhatsApp community and quickly expanded to over 10,000 members. The launch of the app in April 2022 further accelerated its growth, with over 1 million users making it India’s top choice for seniors. Khyaal’s achievements include receiving the “Best App for Good – 2022” award from Google Play and being recognized for its contribution to India’s diversity.
**4. Near-term growth plans:** Khyaal aims to enhance its reach and user experience in the short term. In the long term, the platform envisions creating a comprehensive digital ecosystem that empowers older adults to lead fulfilling, independent, and connected lives, complemented by offline initiatives.
Despite initial challenges and misconceptions about seniors’ adoption of technology, Khyaal has successfully engaged with its community, leading to a better understanding of their needs and preferences. This has been instrumental in shaping the platform’s development and growth.
