Khyaal, a Mumbai, India-based provider of an app for senior citizens, raised USD 4.2M in funding.
The round, which brought the total amount to $5.4M, was led by 62Ventures, SVQuad, and Inventus Capital. Glen Tullman, Kanwal Rekhi, Raju Reddy, Raj-Ann Gill, Everywhere Ventures, Supermorpheus, and Unpopular Ventures also participated.
The company intends to use the funds to expand operations and its business reach.
Founded in 2020 by Hemanshu Jain and Pritish Nelleri, Khyaal offers an app designed for senior citizens and their family members, which aims to create a community that fosters physical, cognitive, emotional, and social well-being for the elderly. The company offers engaging entertainment content and games. Additionally, the platform extends financial services tailored specifically for seniors, including a smart payment card for seniors, Khyaal Card, equipped with cybersecurity protection. Every transaction made using the vard earns seniors Khyaal Coins, which can be used to claim rewards within the app.
The app also provides curated travel plans to premium and budget-friendly destinations, allowing seniors to explore their memories, new relationships, and friendships through curated, and safe travel experiences.
Commenting on the news, Hemanshu Jain said: “We are grateful for the support of our investors who share our mission and believe in the potential of Khyaal. With the infusion of funds, we are positioned to accelerate innovation, extend our reach, and create an even more profound impact in the lives of seniors.”