Lifestyle App For Elderly GenWise Raises $3.5 Mn Seed Funding
GenWise, an elderly individuals-focused application, has raised $3.5 million (Rs 28.9 crore) in seed funding led by Matrix Partners India.
DBR Ventures (Family Office, Jagran Group) and Climber Capital, as well as angels like Kunal Shah (Cred) and Suhail Sameer (Ex-BharatPe), also participated in the funding round.
As per the startup, the freshly raised funds will be used to establish the initial team and facilitate the launch of the app.
GenWise | Lifestyle App For The Elderly
Founded by Geetanshu Singla, Nehul Malhotra and Rajat Jain, GenWise is an application for the older generation to help them in their digital journeys.
The app will debut as an invite-only community, promising early users an intimate and customised experience. And as the app gains traction, the team will roll out additional features and widen its reach to a larger audience.
Speaking about the development, Rajat Jain, Co-founder of GenWise, said,
“GenWise embodies our collective vision to develop a lifestyle app that not only empowers the elderly but also bridges the prevailing digital gap between generations that we witnessed within our own families. We strongly believe that age should not be a barrier for anyone to leverage the potential of going digital and its various possibilities.”
By reducing elders’ dependence on younger family members to use mobile technology, GenWise provides a dependable companion to seniors, even without their younger family members.
The app comes with various features across wellness, digital literacy, financial management and social engagement for the older generation, including features such as a personal digital assistant, medicine reminders, a streamlined digital passbook, and engaging social tools.
GenWise will also provide a forum for younger family members to communicate with their parents or older loved ones.
Commenting on the development, Siddharth Agarwal, Principal, Matrix Partners India.
“In the wake of the Covid-19 pandemic, senior family members were compelled to adopt technology. However, most existing applications fall short in catering to their distinct needs. Rajat, Nehul and Geetanshu have built consumer apps that have reached over 200 million Indians in the past and are best poised to address this need. We are excited to partner with them as they build GenWise, a platform to bridge generational gaps through a shared social platform.”
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