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InvAscent leads $13 Mn round in Geri Care Health Services

EntrackrEntrackr · 7m ago
InvAscent leads $13 Mn round in Geri Care Health Services
Medial

Snippets InvAscent leads $13 Mn round in Geri Care Health Services The fresh funds will be utilized to expand its services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore, Geri Care said in a press release. Geri Care Health Services, an integrated senior citizen-focused healthcare services provider, has raised Rs 110 crore ($13 million) in a funding round led by InvAscent, investing through its India Life Sciences Fund IV (ILSF IV) for a minority stake in the company in its first institutional fundraise. Founded in 2018 by Lakshmipathy Ramesh, Geri Care offers a comprehensive 360-degree continuum care model for senior citizens, with a network of multi-specialty hospitals, assisted living centers, home care, and clinics exclusively for senior citizens. According to the Chennai-based company, it is also introducing first-of-its-kind specialty centers of excellence in geriatric oncology, geriatric urology, geriatric cardiology, and ortho-geriatrics through its chain of multi-specialty hospitals exclusively for elders. Geri Care claims to serve tens of thousands of elders in South India, particularly in Chennai. InvAscent is a life sciences private equity firm managing an AUM of over $800 million, with investments in over 35 companies across the pharma, healthcare delivery, medical devices, animal health, nutraceuticals, and healthtech industries.

Kites Senior Care raises Rs 45 Cr in Series A round

EntrackrEntrackr · 1y ago
Kites Senior Care raises Rs 45 Cr in Series A round
Medial

Agetech startup Kites Senior Care has raised Rs 45 crore ($5.4 million) in its Series A round led by Ranjan Pai, 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. The proceeds will be used to deepen its presence in cities like Bengaluru, Hyderabad, Chennai, while also facilitating expansion into three additional cities across Southern India, the company said in a press release. Founded in 2016 by Rajagopal and Reema, Kites Senior Care specialises in a range of geriatric services including post-operative and post-hospitalisation rehabilitative care, palliative care, dementia care, and respite care, both within care facilities and at the residences of senior citizens. Currently, the startup has a team of 400 care professionals, which is expected to grow to over 1,500. Further, the Bengaluru-based firm has plans to use the newly raised capital to augment its bed capacity to over 1,000 within the next six quarters, up from the current number of 340. Also, it aims to complete the pilot expansion of its tech platform ‘seniorshield,’ leveraging wearable technology from Titan Fastrack. Besides Kites Senior Care, Samarth Life, Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness and GenWise also operate in the agetech space.

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