Khyaal, a leading Indian AgeTech start-up, has recently raised USD 4.2 million in a seed funding round. This round was co-led by 62Ventures, SVQuad, and Inventus Capital. Among the distinguished entrepreneurs and investors who participated in this round were Glen Tullman, Kanwal Rekhi, Raju Reddy, and Raj-Ann Gill.
The Founders and Their Vision
Founded in 2020 by Hemanshu Jain and Pritish Nelleri, Khyaal is a revolutionary app designed for senior citizens and their family members. The app aims to create a community that fosters physical, cognitive, emotional, and social well-being for the elderly.
A Comprehensive Suite of Services
Khyaal goes beyond conventional offerings. It provides digital literacy training, empowering seniors to confidently navigate the digital world. To alleviate loneliness, Khyaal offers engaging entertainment content and games.
Additionally, the platform extends financial services tailored specifically for seniors, including India’s first smart payment card for seniors, the Khyaal Card, equipped with cybersecurity protection. Every transaction made using the Khyaal Card earns seniors Khyaal Coins, which can be used to claim exciting rewards within the Khyaal App.
On-Demand Assistance Service
An invaluable feature of the app is its on-demand assistance service, enabling seniors to effortlessly request services such as booking cabs, travel arrangements, medical services, and bill payments – all from the comfort of their homes through the Khyaal app.
Travel and Exploration
The app also provides curated travel plans to unique destinations that are not only premium but also budget-friendly, allowing seniors to explore their wanderlust and create cherished memories, new relationships, and friendships through hassle-free, carefully curated, and safe travel experiences.
Memory Lane
The app also has an interesting feature, Memory Lane, which leverages the power of AI to infuse vibrant colors into the nostalgic black-and-white photos of seniors.
The Road Ahead
The freshly raised funds will be instrumental in furthering Khyaal’s mission of empowering seniors and expanding its reach across India. With the closure of its seed round, Khyaal has so far raised a total of $5.4 Million in funding.
This funding round marks a significant milestone for Khyaal and the AgeTech landscape in India. It is a testament to the potential of technology to transform the lives of senior citizens, making their golden years truly golden.
Commenting on the news, Hemanshu Jain said: “We are grateful for the support of our investors who share our mission and believe in the potential of Khyaal. With the infusion of funds, we are positioned to accelerate innovation, extend our reach, and create an even more profound impact in the lives of seniors.”