Early-stage AgeTech enterprise capital agency Equitage Ventures introduced the ultimate shut of a brand new $47.3 million fund.
The spherical was led by an funding group that features Daniel Kaplan, Russell Hirsch (a cofounder of Generator Ventures) and Adam Kaplan (CEO of Solera Senior Dwelling).
WHAT IT DOES
Equitage Ventures supplies capital, distribution and recommendation to entrepreneurs who goal senior adults’ unmet bodily, psychological, non secular and social wants.
The corporate will use the funds to spend money on corporations it deems able to remodeling healthcare into areas the place it perceives “pressing want, actual alternative or long-term transformation.”
In a press release, Equitage Ventures mentioned it’ll spend money on corporations concerned in “compliance infrastructure for senior housing and expert nursing amenities, documentation automation for dwelling and facility-based care, passive monitoring, oral well being, dementia and behavioral well being, care navigation and household caregiving.”
MARKET SNAPSHOT
Different corporations within the senior care area embrace The Helper Bees, which in January raised $35 million in a Sequence C funding spherical. The corporate used the funds to broaden its platform, aiming to succeed in extra seniors and improve its entry into new markets resembling Medicaid.
In 2024, Clover Well being partnered with psychological and behavioral well being platform Quartet Well being to convey value-based behavioral healthcare to Clover members with extreme psychological sickness via Clover Residence Care.
Quartet Clinicians used the Clover Assistant platform, an AI instrument aggregating information to assist well being suppliers make selections relating to power circumstances. Their platform consists of choices to assist people with severe psychological sickness.
In 2023, Instinct Robotics, an organization providing an AI-powered care companion robotic for seniors experiencing loneliness, closed a $25 million funding spherical, which included $20 million in enterprise capital and $5 million in enterprise debt.
The spherical was led by Woven Capital, Toyota’s development fund, and included participation from OurCrowd, Toyota Ventures, Western Expertise Funding and different traders.
Instinct’s choices embrace ElliQ, an AI-powered companion for lonely older adults.
The corporate used the funds to boost ElliQ’s capabilities powered by massive language fashions (LLMs) and generative AI and to fulfill the demand for ElliQ throughout healthcare organizations and authorities companies.
