Founded in 2015, ElderAid helps improve quality of life for senior citizens through its range of services
ElderAid Wellness has secured an undisclosed sum as angel investment from Rugmini Menon, a Hong Kong-based entrepreneur, to bolster its operations in Bangalore. This investment will enable augmentation of operations, investment in critical customer management technology, marketing and brand building efforts.
ElderAid is a unique end-to-end, ‘proxy child’ service set up by Dr Vandana Nadig Nair and Santosh Abraham in 2015 to serve elders in Bangalore. The company provides a range of at-home services including caretaker support, emergency assistance, accompanying the elder to the hospital, social events, supporting volunteering interests and hobbies, bill payments, property management, Doctor home visits, and so on.
ElderAid addresses a critical need by focusing on seniors and their needs. It is projected that the proportion of Indians aged 60 and older will rise from 7.5 per cent in 2010 to 11.1 per cent in 2025. In 2010, India had more than 91.6 million elderly and the number of elderly in India is projected to reach 158.7 million in 2025.
Santosh Abraham, Co-Founder – ElderAid, speaking of the organisation’s growth and future plans said, “Elder support is an evolving space which will come into its own in the next three to five years. Our current focus is to stabilize and grow operations in Bangalore before we set up in other cities across India.”
Speaking about the investment, Menon said, “Often, even if one lives in the same city as their elders, the realities of our day to day lives don’t allow us to be there for our elders. ElderAid helps bridge this gap. Their professional, from-the-heart support to their clients ensures peace of mind for all concerned. This is a space I am deeply committed to and look forward to seeing ElderAid grow from strength to strength.”
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