Agetech startup Kites Senior Care has secured Rs 45 crore ($5.4 million) in its Series A funding round, led by Ranjan Pai, the 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.
According to a press release by the company, the funds will be utilized to strengthen its presence in cities like Bengaluru, Hyderabad, and Chennai, as well as to expand into three additional cities across Southern India.
Established in 2016 by Rajagopal and Reema, Kites Senior Care specializes in various geriatric services, including post-operative and post-hospitalization rehabilitative care, palliative care, dementia care, and respite care, both within care facilities and at the residences of senior citizens.
Currently, the startup boasts a team of 400 care professionals, with plans to expand it to over 1,500.
Moreover, the Bengaluru-based firm intends to utilize the newly raised capital to increase its bed capacity to over 1,000 within the next six quarters, up from the current 340. Additionally, it aims to complete the pilot expansion of its tech platform ‘seniorshield,’ leveraging wearable technology from Titan Fastrack.
Apart from Kites Senior Care, several other companies such as Samarth Life, Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and GenWise operate in the agetech space.
