“In India, where the elderly population is projected to reach over 319 million by 2050 according to the Longitudinal Ageing Study of India (LASI), this demographic shift is driving a surge of innovation in the elder care sector.
“When 65-year-old Ramesh Nair (name changed) retired after four decades of working in the corporate sector, he faced a dilemma familiar to many seniors in India: how to make the most of his newfound time while staying engaged and secure. Initially, he considered moving in with his son’s family in Mumbai, but the city’s fast-paced lifestyle and space constraints posed challenges.
That’s when he discovered Primus Reflection, a senior living community in Bengaluru, which promised not just a place to live but an environment to thrive. “I wanted to maintain my independence while being part of a vibrant community. Primus offered me everything I needed—modern facilities, healthcare support, and a sense of belonging,” says Ramesh.
Primus Life, which owns a chain of senior living communities, exemplifies the growing trend of startups and new entrants making their way into the elder care segment in India. The startup is rapidly expanding, with over 2,000 senior homes under development and recent market entry into Mumbai.
In March 2024, Primus raised $20 million in a seed funding round led by General Catalyst, with participation from investors like Nikhil Kamath, Co-founder of Zerodha, and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai.
Active ageing: A new era of elder care
India’s elder care sector is on the brink of a transformation, driven by technology, investment, and a shift in societal attitudes towards ageing. Startups are not just focusing on the medical needs of the elderly but are also promoting active, independent lifestyles.
With the country’s elderly population set to reach over 319 million by 2050 according to the Longitudinal Ageing Study of India (LASI), this demographic shift is driving a surge of innovation and entrepreneurial opportunity in the elder care sector.
As the landscape continues to evolve, these innovations are setting the stage for a new era in elder care, redefining what it means to age gracefully in India.
Startups like KITES Senior Care are offering a comprehensive range of eldercare services designed to address the diverse needs of seniors. These include post-hospitalisation care, rehabilitation services, dementia care, palliative care, and respite care. Each service is delivered through individualised care plans, tailored to the medical, psychological, and social requirements of every senior.
“With an ageing population and evolving family structures, there is a rising demand for personalised, professional eldercare services that cater to both physical and emotional well-being,” says Dr Reema Nadig, Director and Group COO of Columbia Pacific Communities, Seniorshield, and KITES Senior Care.
There is also a rising demand for holistic wellness programs that blend physical rehabilitation with emotional and social engagement, creating a more comprehensive care approach,” she adds.
In March 2024, the startup had raised Rs 65 crore in a Series A round led by Dr Ranjan Pai’s Manipal Education and Medical Group (MEMG) Family Office Fund.
Adarsh Narahari, Founder and Managing Director of Primus, highlights a significant shift in India’s elder care sector towards “active ageing”. Unlike traditional elder care, which focuses on dependency and managing medical needs, active ageing promotes independence and fulfilment for seniors well into their 70s and 80s.
“I believe that intergenerational housing where all age groups can reside together, yet independently, will become the norm as families become more nuclear. The quality of services and standard of operators will be the key differentiators going forward,” says Narahari.
The sector is also seen as a potential hotspot for retirement migration, attracting retirees both locally and globally due to India’s rich culture, hospitality, and diverse landscapes. Entrepreneur Nikhil Kamath sees immense potential yet to be harnessed in the sector: The elder care space could be a huge entrepreneurial opportunity. Startups like Primus are creating solutions that provide care, comfort, and dignity for our ageing population.”
