A seed round of $3.5 million was raised for GenWise, a senior lifestyle app, and was led by Matrix Partners India. Other investors included DBR Ventures (Family Office, Jagran Group), Climber Capital, and angel investors Kunal Shah, Suhail Sameer, and Achal Mittal.
The startup stated in a statement that the money will be used to form the initial team and facilitate the app’s launch.
Geetanshu Singla, Nehul Malhotra, and Rajat Jain, three former BharatPe executives who founded GenWise, offer seniors a trustworthy companion even when their younger family members are not around. Elders are given the independence to use technology and access personalized solutions on their own, while younger family members are helped to maintain connections with their parents or senior relatives.
GenWise will initially debut as a private, invite-only community, promising early adopters an intimate and tailored experience. The team will introduce new features as the app gains popularity and expand its target market.
Along with GenWise, a number of other startups focused on elder care are active in this market, including SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and Goodfellows.
In June of last year, Matrix announced its India-specific fund and reached a final close of $550 million. Among others, the new fund has supported Saveo, Murf AI, XimKart, and ZippMat.
