Elder Care Startup Samarth Life Secures $1.45 Million in Funding Led by Aroa Venture Partners
- ByStartupStory | February 22, 2024
Gurugram-based Samarth Life has successfully raised Rs 12 crore (approximately $1.45 million) in its latest funding round, spearheaded by Aroa Venture Partners. The funding initiative also saw participation from Social Alpha and Zhooben Bhiwandiwala of Mahindra Partners.
Samarth Life, co-founded by Asheesh Gupta, Gaurav Agarwal, Anuradha Das Mathur, and Sanjay Ahuja, specializes in comprehensive care services and offers customizable subscription plans tailored for elderly individuals. The startup has strategically collaborated with insurance companies, providing a lifestyle card that extends insurance benefits for elderly citizens.
With an ambitious goal of achieving a revenue of Rs 12 crore by the end of the year, Samarth Life plans to utilize the newly acquired funds to drive growth and expansion initiatives. The startup currently serves a community of over 35,000 individuals, offering subscription plans priced between Rs 200 to Rs 15,000 per month.
Samarth Life stands among a cohort of companies operating in the elder care sector, including Age Care Labs, Goodfellows, KareWise, SeniorWorld, GetSetUp, 60Plus India, ElderAid Wellness, and GenWise.
Aroa Venture Partners, known for its backing of successful ventures like Unacademy, Urban Company, and CRED, recently launched a new fund with a target corpus of Rs 400 crore (about $50 million). Samarth Life marks the inaugural investment from this new fund, showcasing Aroa’s continued commitment to supporting innovative startups in various sectors.
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