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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.

Caregiving-tech startup LegUp raises Rs 2 Cr pre-Seed funding

EntrackrEntrackr · 6m ago
Caregiving-tech startup LegUp raises Rs 2 Cr pre-Seed funding
Medial

Bengaluru-based caregiving-tech startup LegUp, which has introduced a platform to bridge the gaps between modern families and trusted caregivers, has secured pre-seed funding of Rs 2 crore ($250K) from Bluebridge Capital Private Limited. This marks LegUp’s first official fundraising round since its inception in May 2024. The company plans to utilize the capital to enhance its technology and operational capabilities while fostering growth and expansion. Additionally, a significant portion of the funds will be allocated toward the development and launch of two upcoming mobile apps. LegUp offers a range of high-quality caregiving and companion services catering to both baby care and elder care segments, including japa nanny services, babysitting, and elderly homecare attendants, among others. The platform has already onboarded over 10,000 skilled caregivers. LegUp is growing rapidly, with a 40% month-over-month revenue increase. The company has established a strong presence in Bengaluru, reaching an MRR of Rs 22 lakh and aiming for an annual revenue of Rs 15 crore in the next fiscal year. The childcare services sector in India is projected to generate over $25,892 million in revenue by 2030, growing at a CAGR of 5%. Meanwhile, the Indian elderly care market, currently valued at $7 billion, is expected to reach a staggering $50 billion by 2030.

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