KITES Senior Care Secures INR 65 Cr in Series A from Ranjan Pai's Family Office Fund Bengaluru-based elderly care startup aims to use the fresh funds to expand into new markets across Southern India, and deeper penetration in existing markets.
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Geriatric care service provider KITES Senior Care has announced the raising of INR 45 crore in Series A round from Ranjan Pai's Manipal Education and Medical Group (MEMG) Family Office Fund.
Prior to this, in January 2023, Kites had raised INR 14 crore from Pai in a pre-Series A round.
The raised funds will be used to support the company's expansion into three additional Southern Indian locales, bolstering its existing presence in Bengaluru, Hyderabad, and Chennai.
It will also increase the number of beds from 340 to 1,000 over the course of the next six quarters.
Rajagopal, CEO and Co-Founder of KITES Senior Care, said, "This funding will fuel our expansion efforts, allowing us to reach more seniors in need of specialised care while fortifying our position as a leader in the geriatric care sector."
Founded in 2016 by Rajagopal and Reema, Kites Senior Care specialises in providing geriatric services such as palliative care, dementia care, post-operative and post-hospitalization rehabilitative care, and respite care. These services are provided both in senior citizen houses and care facilities.
"Our focus has always been on delivering superior care that addresses the unique needs of the elderly. With the support of our investors, we are poised to enhance our services and reach, ensuring more seniors have access to the compassionate care they deserve," added Reema, Co-Founder and COO of KITES Senior Care.
The platform currently employs 400 care professionals, but that number is projected to rise to over 1500.
It claims to serve more than 5,400 families in Chennai, Hyderabad, and Bangalore.
Ranjan Pai said, "We have closely observed KITES' delivery of the promised plan and building solid foundations of a scalable growth model. This has encouraged us to commit further capital to grow the business to the next stage."
