Khyaal, the leading app for senior citizens in India, has secured $4.2 million in a seed funding round co-led by 62Ventures, SVQuad, and Inventus Capital. Renowned entrepreneurs and investors including Glen Tullman, Kanwal Rekhi, Raju Reddy, and Raj-Ann Gill participated in the round, alongside existing investors Everywhere Ventures, Supermorpheus, and Unpopular Ventures. The funding infusion will propel Khyaal’s mission of empowering seniors and expanding its reach across India, bringing its total funding raised to $5.4 million.
Established in 2020 by Hemanshu Jain and Pritish Nelleri, Khyaal sets itself apart by offering a comprehensive app tailored for senior citizens and their families. Going beyond conventional services, Khyaal aims to foster physical, cognitive, emotional, and social well-being for the elderly. Its features include digital literacy training to help seniors navigate the digital world with confidence, entertainment content to combat loneliness, and financial services such as the Khyaal Card, India’s first smart payment card for seniors with built-in cybersecurity protection.
Additionally, Khyaal offers an on-demand assistance service for tasks like booking cabs, travel arrangements, medical services, and bill payments, all accessible through the app. The platform also provides curated travel plans, allowing seniors to explore new destinations safely and hassle-free. Leveraging AI, Khyaal enhances nostalgic photos with vibrant colors through its Memory Lane feature.
Hemanshu Jain, Founder & CEO of Khyaal, expressed gratitude for the support of investors and highlighted the company’s commitment to accelerating innovation and extending its reach. Glen Tullman, CEO of Transcarent and Co-Founder of 7wireVentures, emphasized the importance of providing strong communities for senior populations to thrive, citing Khyaal’s comprehensive approach as pivotal in achieving this goal.
Kanwal Rekhi, Managing Director of Inventus Capital Partners, commended Khyaal’s remarkable growth and its potential to engage, educate, and empower seniors. He expressed excitement about being part of Khyaal’s journey in redefining the agetech landscape and enhancing the quality of life for senior citizens.
With over one million seniors engaged on its platform since inception, Khyaal aims to strengthen its presence in existing regions and expand into new markets. The startup’s focus lies not only on quantitative growth but also on fostering meaningful connections and improving the overall well-being of senior citizens across diverse communities.