Age Care Labs has secured ₹85 crore as part of its larger ₹250 crore Series B round, according to reports from Mint. The Gurugram-based eldercare platform, which offers services including at-home health monitoring and emergency support, received participation from Zerodha's venture capital arm Rainmatter Capital, Pegasus Finvest, and other prominent family offices. The startup previously raised $11 million in its Pre-Series B round in 2023, with participation from Rainmatter Capital and Gruhas, while Lumis Partners anchored the company in 2019.
As part of the funding round, Age Care has partnered with Shrem Group to launch Shremoha, a senior independent living venture, as reported by Mint. The capital will be utilized to expand service offerings across key urban markets, with the larger Series B round expected to launch in the first quarter of 2027. The startup currently operates two brands - Emoha, an app-based at-home care service for seniors, and Epoch, which provides assisted living and specialized eldercare services including dementia care, palliative care, recovery and rehabilitation, and long-term care.
India currently has more than 140 million adults over the age of 60, with Age Care Labs targeting approximately 40 million seniors present in urban pockets, according to Mint reports. The startup is currently focused on tier-1 and tier-2 markets and plans to enhance penetration and value creation in these segments over the next year or two. India's senior population is projected to grow from 142 million in 2021 to 231 million by 2036, with its share in total population increasing from about 10% to nearly 15%, as reported by CareEdge Ratings.
The 'silver economy' market, encompassing hospitals, diagnostics, home healthcare, assisted living, senior housing, and organized eldercare services, is projected to be worth $35 billion by 2036, as reported by CareEdge Ratings. Age Care's business model focuses on what the company calls a 'continuum of care' approach, with Emoha catering to seniors over 60 requiring at-home care, Shremoha offering independent living facilities, and Epoch focusing on specialized care. The startup's competitive advantage lies in its full-stack offerings via the three brands and its neighborhood-based retirement community model.
