Senior housing company Primus announces raised $20 million in seed funding

2 minutes reading Last update: October 16, 2024 | 1:20 p.m. STI

Primus Senior Living said Wednesday it has raised $20 million in a seed funding round led by General Catalyst and with participation from Nikhil Kamath and investment firm Gruhas, an investment firm co-founded by Kamath.

Primus said it will use the money to develop a platform that will offer healthcare, lifestyle wellness and social engagement in nursing homes. “This investment represents an important milestone in Primus’ mission to develop India’s first end-to-end senior care solution, revolutionizing the way senior care services are delivered across the country,” he said.

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“Our goal is to create a vibrant and inclusive ecosystem where seniors are not only cared for, but celebrated – surrounded by love, connection and purpose. We believe that all seniors deserve to age with dignity and joy, living fully in their own homes or in thriving intergenerational communities,” said Adarsh Narahari, founder and managing director of Primus.

Primus said it is also building “intergenerational communities” where people of all ages can live together, creating environments that meet the evolving needs of seniors.

“India could become a really interesting destination for retirement migration in the next decade. The elderly care space could also be a huge business opportunity,” said Kamath.

“India is aging and with the rise of nuclear families, we need to rethink the way we care for our elderly. The traditional approach doesn’t always work anymore. We need new-age solutions – like the ones Primus is creating – to give people the care, comfort and dignity they deserve as they age. This is just the beginning,” he said.

“As India ages, we need to reimagine how we serve our seniors in a way that preserves their agency and expands their quality of life. Primus aims to achieve this with the home as the anchor, creating mini blue zones to our seniors with a technology and data solution that combines health, community, purpose and lifestyle,” said Priya Mohan, partner at General Catalyst.

First published: October 16, 2024 | 1:19 p.m. STI