A Bengaluru based elder care startup, Primus Senior Living has recently entered into a $20 million seed fund. The leading in the round was General Catalyst, and other investors included Nikhil Kamath, the co-founder of Zerodha and Gruhas – an investment firm launched by Kamath and Abhijeet Pai of the Puzzolana Group.
Expansion Plans and Vision
The group based in California Primus Senior Living wants to utilise it to grow its eldercare sector and develop homes 3,500 across six cities in India thus boost its stake in India’s fast-growing eldercare industry. The company offers a wide range of services tailored to seniors, including:
- Medical treatment and Also Pre- employment plans
- Lifestyle and social interaction pursuits
- In-home care services
Primus is also involved in construction of integrated nested communities that will comprise of able senior citizens together with the other members of the society thereby enabling the senior persons to have a natural interaction with members of other age brackets in an environment that is most suited for their needs.
Target Market High Growth Business of Senior Living
The current size of the senior living market in India is $2-$3 billion and the market has been growing at a CAGR of more than 30 %. It is forecasted that the market could possibly hit an estimated $12 billion by 2030 thus making clear the great prospect for expansion in elder care segment.
A Surge in Elder Care Funding
It is among the largest this year in any Indian startup and Primus Senior Living from the U.S. secured $20 million in the seed fundraising round. Web list other notable startups as Avail, $27 million, Lyskraft $26 million. Kites Senior, Khyaal and Samarth Life other players in the eldercare space have also secured funding taking the total funding amount raised in this sector to over $30M by 2024.
The Elderly Patronage of Primus
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