Primus Senior Living said on Wednesday it has raised $20 million in a seed funding round led by General Catalyst and participation from Nikhil Kamath and investment firm Gruhas, an investment firm Kamath co-founded.
Primus said it will use the money to develop a platform that will offer health care, wellness lifestyle and social engagement in elder people’s homes. “This investment marks a major milestone in Primus’ mission to develop India’s first full-stack solution for senior care, revolutionising how eldercare services are delivered across the country,” it said.
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“Our goal is to create a vibrant, inclusive ecosystem where seniors are not only cared for but celebrated – surrounded by love, connection, and purpose. We believe every elder deserves to age with dignity and joy, living fully in their own homes or within thriving intergenerational communities,” said Adarsh Narahari, founder and managing director of Primus.
Primus said it is also building “intergenerational communities” where people of all ages can live together, creating environments that cater to the evolving needs of seniors.
“India could become a really exciting destination for retirement migration in the next decade. The eldercare space could be a huge entrepreneurial opportunity as well,” said Kamath.
“India is getting older, and with the rise of nuclear families, we need to rethink how we take care of our elderly. The traditional approach doesn’t always work anymore. We need new-age solutions – like what Primus is creating – to give people the care, comfort, and dignity they deserve as they age. This is just the beginning,” he said.
“As India grows older, we need to reimagine how we service our elders in a manner that preserves their agency and expands their quality of life. Primus aims to achieve this with home as an anchor, creating mini blue zones for our elders with a technology and data-first solution that combines health, community, purpose, and lifestyle,” said Priya Mohan, partner at General Catalyst.
First Published: Oct 16 2024 | 1:19 PM IST
