AgeTech Startup Sarathi Healthcare raises 1 CR seed money from ah! Ventures Angel Platform and other
Sarathi Healthcare, India’s first ElderCare Platform, raises seed money of 1 CR from ah! Ventures Angel Platform and other notable angel investors. ah! Ventures’ has done 148 investments in 105 startups till date taking its total investment portfolio to INR 295 CR (~39 MN USD) with 15 exits and 32 follow on rounds. 48 investments have happened through all three platforms in 2022 till date.
Angel Investors such as Frinson Francis Palathingal (Head of growth strategy, planning, expansion and delivery for 500+ emerging cities at Swiggy), Aditya Masekar (Client Partner, Zensar Technologies), Harshvardhan Dhote (Engineer at CIDCO), Sumant Patil (Engineer at CIDCO), and Babu Nagappan among others invested in this round.
Founded in 2020 and with accelerator partner, Marwari Catalysts, Sarathi Healthcare operates on the ethos that the elder generation should have vibrant and happy lives as they age in the comfort of their own home and their medical care is well taken care of by the experts. Not only is this undoubtedly better for their mental health, but it also decreases the strain on families and an already frazzled hospital care system.
Sarathi Healthcare has a huge market of USD 5.2BN in Tier II & below towns in India, which includes NRIs as well as USD 15.2BN global opportunity in Asia alone. The startup offers physical services at the doorstep which includes medical, nutritional, wellness and essential (Daily Help assistance) services and has impacted the lives of more than 10000+ people till date. They are also in talks with potential partners in Jaipur, Kota & Udaipur and by November, they’ll be ready to launch their operations in respective towns as well.
Commenting on the announcement, Amol Bagul, Founder and CEO, Sarathi Healthcare says, “We want to make the best use of the incoming funds to strengthen our presence, offerings and to achieve even higher customer satisfaction. By providing the right treatment by the right doctors at the right price, that too in the comfort zone of elderly people, we want to be a true health Sarathi (meaning Companion) which people from India and outside India trust for high-quality essential elder care services for our senior population.”
“Sarathi Healthcare has been continuously looking for ways in which technology can drive efficiencies in healthcare and has also been arranging expert sessions for elderly on important topics like chronic conditions, Cardiac or Ortho to create better awareness. Even physical medical check-up camps have been organised under the expertise of health professionals which thereby gained a huge traction.” - says Lavender Singh Rathore – Co-Founder & Head of Operations.
Sharing her rationale, Aditi Poyam – Co-founder & COO, Sarathi Healthcare says, “Senior care is a very sensitive topic and when you dive into how society cares for older adults, you discover it’s really disorganised, and really fractured. No one knows where to turn. So we founded this space to take care of the elderly and provide them with necessary health services at their doorsteps. At Sarathi Healthcare, we combine value-based care, advanced technology, and superiorpatient experience to deliver better health outcomes.”
Highly supportive for Sarathi Healthcare’s agenda, Sushil Sharma, Founder & CEO atMarwari Catalysts, says, “Sarathi Healthcare’s mission resonated strongly with us. There is a worldwide lack of good elderly care providers. We also suffer from a nursing shortage that will only get worse as the population ages at a more rapid pace. Sarathi Healthcare exists to solve these problems; to enable an active and happy life for all elderly people and to inspire young adults to work in elderly care.
“ah! Ventures has always believed in supporting Startups with an ambitious team who have a vision to club their business with making a meaningful impact in the sector they operate in. We believe that Sarathi, is operating in the space which is set to gain a lot of precedence due to the renewed focus on the Healthcare sector. Sarathi has set its sights right with its focus on the senior care space, which is set to grow at a great pace with improvements basic health care infrastructure. It caters to the unfulfilled needs of the seniors and also the emotional needs of the children to make sure someone takes care of their parents. We are glad to support Sarathi at this stage”, quotes Harsh Modi, Deal Lead - Sarathi Healthcare & VenturePartner - ah! Ventures.
The Road Ahead… FY2023 is going to be game changing for Sarathi Healthcare. They are looking to expand in four cities and take their customer base to 15000+ with a revenue projection of INR1.6Cr. The elderly care health-tech startup is even working to enhance their technology platform which will include features like community, dashboard, medical records repository and will be ready in the second half of FY2023.
It further plans to enter the B2B space for partnerships with corporations so the latter canextend these benefits to employees who are required to work abroad and away fromfamilies. In Conclusion, elderly population is a population that needs better care. And “care,” as the founding team of Sarathi Healthcare says, “is not just about healthcare.” The Sarathis are constantly working towards including empowering ways for seniors toage in place no matter where they choose to live out their golden years.
Together, we must continue to explore new ways to reach the older adult community andhelp assure they have the tools and resources they need to live successfully as they age.
Building a better life for seniors has never been more important!