Age-tech, Ivory has secured $500,000 in a seed funding round led by early-stage VC fund Capital A. TDV Partners (Ujwal Sutaria) and several notable angel investors including Abhishek Kabra (MD, Samara Capital), Tushar Vashisht (Co-founder and CEO, HealthifyMe), Abhishek Ganguly (Co-founder and CEO, Agilitas Sports) and Rajeev Singh (VP, SAP India) were among others who participated in the round.
The start-up which focuses on providing services to individuals battling with brain-related issues, said that the investments will be used to expand its reach to over 15 million elderly Indians at risk of dementia, marking a crucial stride in the largely unaddressed domain of neuro wellness.
Speaking about the severity of the issue, Issac John, co-founder and CEO, of Ivory, said, “Urban seniors, particularly those living alone, face challenges in monitoring cognitive health, exacerbated by pandemic-induced isolation. With this fundraise, we aim to bridge these gaps by offering a tech-driven platform that makes clinical tools and expertise for better brain health accessible to millions of Indians."
Adding further, Rahul Krishnan, co-founder and chief product officer, added, "At Ivory, we're developing a pioneering platform dedicated to the cognitive wellness of seniors and cultivating healthy brain habits. "We offer a diverse range of interactive content, social games, neuroscience-backed assessments, and comprehensive wellness programs aimed at enhancing cognitive well-being and mitigating the risk of brain-related ailments such as dementia."
Ankit Kedia, founder and lead investor at Capital A, said "Ivory's proactive stance on cognitive wellness is both commendable and timely. With the age-tech sector serving about 20 per cent of Indians, the demand for engaging and effective wellness solutions is increasing. Ivory's comprehensive mix of content, community activities, and gaming positions it for significant scalability, and we are excited to join them on their journey of growth”
Operating in the age-tech sector, Ivory caters to individuals aged 55 and above, including retirees, with a focus on maintaining and enhancing mental and cognitive abilities. Through skill-enhancing exercises, community-driven engagement, and assessments, Ivory fosters a sense of belonging among its members, serving as a mental fitness centre for the silver economy.