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 offers 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 put money into corporations it deems able to reworking healthcare into areas the place it perceives “pressing want, actual alternative or long-term transformation.”
In an announcement, Equitage Ventures mentioned it’ll put money into corporations concerned in “compliance infrastructure for senior housing and expert nursing amenities, documentation automation for residence 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 house embody The Helper Bees, which in January raised $35 million in a Collection C funding spherical. The corporate used the funds to increase its platform, aiming to achieve extra seniors and improve its entry into new markets akin to Medicaid.
In 2024, Clover Well being partnered with psychological and behavioral well being platform Quartet Well being to deliver value-based behavioral healthcare to Clover members with extreme psychological sickness by means of Clover House Care.
Quartet Clinicians used the Clover Assistant platform, an AI instrument aggregating knowledge to assist well being suppliers make choices relating to continual circumstances. Their platform contains choices to assist people with critical 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 embody ElliQ, an AI-powered companion for lonely older adults.
The corporate used the funds to boost ElliQ’s capabilities powered by giant language fashions (LLMs) and generative AI and to satisfy the demand for ElliQ throughout healthcare organizations and authorities companies.
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