GenWise Secures $3.5 Million in Funding Led by Matrix Partners India

What are GenWise's plans after raising this fresh funding amount? How the startup is planning to expand its eldercare business? Read on this story from TICE Dispatch to know there future plans!

New Update
GenWise Funding Update Matrix Partners India

TICE Creative Image

GenWise, a groundbreaking lifestyle application designed for the elderly, has successfully raised $3.5 million in a seed funding round. The funding was led by Matrix Partners India, a prominent venture capital firm. Other investors who participated in the round include DBR Ventures (Family Office, Jagran Group), Climber Capital, as well as notable angel investors such as Kunal Shah, Suhail Sameer, and Achal Mittal.

GenWise To Focus On Enhancing Elderly Care

GenWise, founded by Geetanshu Singla, Nehul Malhotra, and Rajat Jain, former executives at BharatPe, aims to provide a reliable companion for seniors, even in the absence of their younger family members. The app offers a platform for younger family members to stay connected with their parents or elderly loved ones, while granting seniors the independence to use technology and access tailored solutions on their own terms.

GenWise Funding to Fuel Initial Development and App Launch

The recently acquired funds will be utilized by GenWise to establish their initial team and facilitate the successful launch of their innovative app. In an official statement, the startup expressed their excitement about the funding and its pivotal role in bringing their vision to life.

An Exclusive Community for Early Adopters

Upon its launch, GenWise will initially operate as an exclusive, invite-only community, ensuring an intimate and personalized experience for early adopters. As the app gains traction and user feedback, the team plans to introduce additional features and expand its reach to a wider audience, ensuring a more comprehensive offering.

A Growing Landscape of Elder Care Startups

GenWise is joining the ranks of several other elder care startups that are making significant strides in this emerging field. Companies such as SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and Goodfellows are actively working to improve the well-being and quality of life for senior citizens.

Matrix Partners India Continues to Invest in Promising Startups

Matrix Partners India, the lead investor in GenWise's funding round, recently announced the final close of its India dedicated fund, totaling an impressive $550 million. This fund has already backed promising ventures such as Saveo, Murf AI, XimKart, and ZippMat, demonstrating the firm's commitment to supporting innovative and high-potential startups in the Indian market.