Agetech startup Kites Senior Care raised Rs 45 Cr Series A funding
In its Series A round, agetech startup Kites Senior Care raised Rs 45 crore ($5.4 million), under the direction of Manipal Education and Medical Group (MEMG) chairman Ranjan Pai through his family office.
In a pre-series A funding round led by Ranjan Pai, Kites had previously raised Rs 14 crore in January 2023.
The company stated in a press release that the money will be used to expand into three more cities in Southern India as well as to strengthen its position in cities like Bengaluru, Hyderabad, and Chennai.
Kites Senior Care was established in 2016 by Rajagopal and Reema. The organisation specializes in providing geriatric services such as palliative care, dementia care, post-operative and post-hospitalization rehabilitative care, and respite care. These services are provided both in senior citizen residences and care facilities.
With over 1,500 care professionals on staff now, the startup plans to expand to over 400.
The Bengaluru-based company also intends to increase its bed capacity from 340 to over 1,000 within the next six quarters with the additional funds that were raised. Additionally, by utilizing wearable technology from Titan Fastrack, it hopes to finish the pilot expansion of its tech platform, known as “seniorshield.”
Other companies in the agetech sector include Samarth Life, Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and GenWise in addition to Kites Senior Care.