Evergreen Club Raises Undisclosed Seed Funding From RPG Ventures
The funds will help the age-tech venture to scale its operations and expand the suite of offerings to their target audience
Evergreen Club, a digital platform for older adults, recently announced to have secured undisclosed seed funding from RPG Ventures, the venture-capital arm of the Indian industrial conglomerate RPG Group.
The funds will help the age-tech venture to scale its operations and expand the suite of offerings to its target audience.
“We are grateful to RPG Ventures for their belief and support in our solution. Social isolation, anxiety, and depression are persistent issues among senior adults, which can be addressed by innovative age-tech startups. Evergreen Club is a step in that direction, and additional funds will help us scale the solution with further enhancements. We aim to reach out to 10 million seniors over the next three years, and also plan to expand beyond India,” said Tapan Mishra, founder, and chief executive officer, Evergreen Club.
The app aims to cater to the emotional and mental well-being of the elderly while giving them a sense of purpose and belonging. Over 1000 sessions such as yoga, meditation, dance therapy, gardening, cooking, Antakshari, arts and crafts, language learning, open mic, karaoke, etc. are conducted every month, offering flexibility and convenience to users.
“According to published reports, India’s senior population is expected to cross 194 million in 2031, up by 41 per cent from 138 million in 2021. There is a strong need to create solutions in the senior care industry, and several new age-tech startups are focussing on the same. Evergreen Club is a unique and novel concept that will promote holistic wellbeing among this age group, and we are excited to be a part of this journey,” added KunjanChikhlikar, head, RPG Ventures.
The seed funding will be utilized to deploy advanced technology, superior features, product enhancement, and strategic marketing initiatives for Evergreen Club, making it a holistic wellness destination for older adults. The curated sessions are intended to impart renewed confidence and independence among them, the platform said.