Connecting Generations: GenWise Raises $3.5 Mn Seed Funding to Empower Elderly with an Innovative Lifestyle App
GenWise, a groundbreaking lifestyle app designed for elderly individuals, has successfully raised $3.5 million (Rs 28.9 crore) in seed funding, led by Matrix Partners India. Notable participants in the funding round include DBR Ventures (Family Office, Jagran Group), Climber Capital, and prominent angels such as Kunal Shah (Cred) and Suhail Sameer (Ex-BharatPe).
The newly acquired funds will be utilized to build the initial team and support the launch of the GenWise app, catering to the unique needs of the elderly population.
GenWise is the brainchild of Geetanshu Singla, Nehul Malhotra, and Rajat Jain. The app aims to assist the older generation in their digital journeys, providing them with a reliable companion and reducing their reliance on younger family members for mobile technology usage.
The app will initially debut as an exclusive invite-only community, ensuring early users enjoy an intimate and personalized experience. As GenWise gains traction, the team plans to introduce additional features and expand its user base to reach a broader audience.
Rajat Jain, Co-founder of GenWise, expressed the team’s vision, stating, “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.”
GenWise offers a range of features across wellness, digital literacy, financial management, and social engagement tailored to the older generation. These include a personal digital assistant, medicine reminders, a streamlined digital passbook, and engaging social tools. The app also serves as a platform for younger family members to connect and communicate with their parents or older loved ones.
Siddharth Agarwal, Principal at Matrix Partners India, commented on the development, stating, “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.”