GenWise Raises $3.5 Million Seed Funding Led By Matrix Partners India The fund raised will be used to establish the initial team and facilitate launch of the app

GenWise, a lifestyle app for the elderly, has raised $3.5 million in a Seed funding round led by Matrix Partners India, with participation from investors namely DBR Ventures (Family Office, Jagran Group) and Climber Capital, as well as angels like Kunal Shah, Suhail Sameer and Achal Mittal. The fund raised will be used to establish the initial team and facilitate launch of the app.

"GenWise embodies our collective vision to develop a lifestyle app that not only empowers the elderly but also bridges the prevailing digital gap between generations that we witnessed within our own families. We strongly believe that age should not be a barrier for anyone to leverage the potential of going digital and its various possibilities," said Rajat Jain, co-founder, GenWise.

According to the company, GenWise will launch as an exclusive and invite-only community for early adopters. As the app gains traction, the team will roll out additional features and widen its reach to a larger audience. In addition, the startup offers a variety of features across wellness, digital literacy, financial management and social engagement for the older generation that includes a personal digital assistant, a streamlined digital passbook, timely reminders for medication and engaging tools to socialise.

"In the wake of the Covid-19 pandemic, senior family members were compelled to adopt technology. However, most existing applications fall short in catering to their distinct needs. Rajat, Nehul and Geetanshu, have built consumer apps that have reached over 200 million Indians in the past and are best poised to address this need. We are excited to partner with them as they build GenWise, a platform to bridge generational gaps through a shared social platform," said Siddharth Agarwal, principal, Matrix Partners India.