GenWise, India's first lifestyle app for the elderly, raised $3.5 million in a seed round led by Matrix Partners India, with participation from investors namely DBR Ventures (Family Office, Jagran Group) and Climber Capital, as well as angels like Kunal Shah, Suhail Sameer and Achal Mittal. The funds will be used to establish the initial team and facilitate launch of the app.
GenWise, a pioneering effort, is India’s first lifestyle application for the older generation, to enrich their digital journeys. It is rooted in the philosophy of empowering the "Generation Wise" or our respected elders, enabling them to independently navigate their daily lives. With innovative features like a personal digital assistant, a streamlined digital passbook, timely reminders for medication and engaging tools to socialize, GenWise helps to harness the benefits of technology with ease and confidence.
The app also serves as a platform for younger family members to stay connected with their parents or senior loved ones. It balances the need of the older generation to have their autonomy, while having the comfort of knowing their loved ones are a tap away.
The founders of GenWise, Geetanshu Singla, Nehul Malhotra and Rajat Jain, have collective experience of over 40 years in consumertech, with expertise across social media, e-commerce, banking and other industries.
Rajat Jain, Co-Founder, GenWise, shared, "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."
"On the fundraise, Siddharth Agarwal, Principal, Matrix Partners India, shared, “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.”
To begin with, GenWise will launch as an exclusive, invite-only community, promising an intimate and personalised experience for early adopters. As the app gains traction, the team will roll out additional features and widen its reach to a larger audience.
Screen shot of GenWise App on Google Play
Comments