PE-VC Fund Investments
Eldercare platform Age Care Labs to raise Rs.50-Cr from Plutus, others
Gurugram-based eldercare platform Age Care Labs is to raise INR 50 crore (USD 6 million) in a Series B round from Plutus Wealth Management and Cork Products with participation from other investors.The company is to issue 22,87,596 Series B preference shares at INR 218.6 per share. It has already received INR 31 crore from Plutus Wealth Management, Cork Products, Founders Collective Fund, Keymarrisa Realtors Pvt Ltd, and individual investors, including Neeraj Aggarwal and Utpal Hemendra Sheth.The firm will use the fresh funds to augment its capital base and meet long-term financial requirements.Age Care Labs (the parent entity of Emoha and Epoch Elder Care ) provides innovative, technology-driven solutions for health monitoring and connectivity that enhance the quality of life for seniors.
Between Oct-23 and Apr-24, Age Care Labs had attracted about USD 12.22 M from Gruhas Proptech, Lumis Partners, Rainmatter Capital, and others.For FY24, Age Care Labs had reported about INR 53.21Cr in Operating Income and about INR 54.16 Cr in Net Loss.
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