Care24, the India Home Healthcare startup raises $4 million from SAIF Partners
Bengaluru, India | Red Newswire | Jan 17, 2016 Last Updated at 10:00 AM IST.
Care24 is the latest Indian startup in the healthcare field to raise a nice Series A funding. The Mumbai-based company is now backed by SAIF partners and plans to invest this money in developing its technology and caretaker training.
Vipin Pathak, Garima Tripathi, Pranshu Sharma and Abhishek Tiwari, founders of Care24 launched the company back in 2014 and have found it difficult to find good caretakers for the aged.
CEO, Pathak said, “We all come from small towns from different parts of the country. Our parents live far away from us and we were struggling to get the right care at their place.”
Most of the families face this problem and India has over 100 million people aged over 60 and the number is expected to increase three folds by 2050. Earlier families used to stick together and children used to take care of the aged. But, as the trend is changing, parents and children are drifting apart. “These factors combined are a huge macro change that is going to increase need for services,” said Pathak.
Care24 carries out background checks on its physiotherapists, nurses and attendants. The company is currently focused on geriatric care, but plans on adding more options.
The company said it serves 4000 patients per day and the caretakers are able to connect to the patients using only mobile. As the company scales up, it plans to integrate sensors in its technology platform so that carers won’t have to visit homes to check blood pressure etc.
Other companies in the segment are Portea, which raised $37.5 million.
Pathak says, “I welcome competition more than anything, because this is a new area and the category still needs to grow. I expect there will be more players who want to solve this problem and tomorrow we can consolidate to help India’s population of 1.2 billion.”