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Elder Care Startup Samarth Life Secures New Funding Led by Aroa Venture

Samarth Life, a startup specializing in elder care services, has successfully raised Rs 12 crore (approximately $1.45 million) in a recent funding round led by Aroa Venture Partners. The funding round also saw participation from Social Alpha and Zhooben Bhiwandiwala of Mahindra Partners.


The infusion of funds is intended to fuel Samarth Life's growth and expansion strategies as it continues to cater to the needs of elderly individuals.


Founded by Asheesh Gupta, Gaurav Agarwal, Anuradha Das Mathur, and Sanjay Ahuja, Samarth Life offers a range of comprehensive care services and customizable subscription plans tailored to the specific requirements of elderly individuals. Headquartered in Gurugram, the startup also collaborates with insurance companies to provide lifestyle cards with associated insurance benefits for elderly citizens.


With a subscriber base exceeding 35,000 individuals, Samarth Life offers subscription packages ranging from Rs 200 to Rs 15,000 per month and aims to achieve a revenue target of Rs 12 crore by the end of the current year.


In addition to Samarth Life, several other players, including Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and GenWise, operate within the elder care space, reflecting the growing demand for such services.


Aroa Venture Partners, the lead investor in this funding round, recently unveiled a new fund with a target corpus of Rs 400 crore (approximately $50 million). Samarth Life marks the inaugural investment from this fund. Notably, Aroa Venture Partners has previously backed prominent startups such as Unacademy, Urban Company, and CRED.


The funding secured by Samarth Life underscores the growing investor interest in the elder care sector and signifies the startup's commitment to addressing the evolving needs of elderly individuals through innovative and personalized care solutions.


 

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