Senior citizen app Khyaal raised $4.2 M Seed funding from 62Ventures, others
In a seed funding round co-led by 62Ventures, SVQuad, and Inventus Capital, with participation from Glen Tullman, Kanwal Rekhi, Raju Reddy, and Raj-Ann Gill, as well as its current investors, Everywhere Ventures, Supermorpheus, and Unpopular Ventures, the platform Khyaal, which focuses on senior citizens, raised $4.2 million.
Khyaal has closed its seed round, raising a total of $5.4 million in funding to date. According to a press release from Khyaal, the new funds will be used to empower seniors and broaden the organization’s reach throughout India.
Hemanshu Jain and Pritish Nelleri co-founded Khyaal in 2020 to provide seniors over 55 with a range of benefits, including live workshops, engaging games, secure payment processing, on-demand help, exclusive deals, carefully selected travel packages, and much more.
The Mumbai-based business claims that its platform offers financial services designed especially for seniors, such as the Khyaal Card, a smart payment card with cybersecurity protection. Seniors receive Khyaal Coins for every transaction made with the Khyaal Card. These coins can then be redeemed for thrilling prizes on the Khyaal App.
According to Khyaal, its app has one million users. Its competitors include SeniorWorld, Get Setup, GoodFellows, Wisdom Circle, and Genwise, among others.
