Ivory an agetech startup Secures $500K Funding Round Led by Capital A
Ivory, an agetech startup dedicated to brain health, has successfully raised $500,000 in a funding round led by early-stage VC fund, Capital A, with participation from TDV Partners, including notable angel investors such as Abhishek Kabra, Tushar Vashisht, Abhishek Ganguly, and Rajeev Singh.
Expanding Reach to Combat Dementia Risk
With this infusion of funds, Ivory aims to extend its services to over 15 million elderly individuals in India who are at risk of dementia. This expansion represents a significant stride in addressing the critical issue of neurowellness among the aging population, a domain that has largely remained underserved.
Addressing the Rising Threat of Dementia
The prevalence of dementia among individuals aged 55 and above in India is a growing concern, with one person facing the risk every 20 seconds. Contributing factors such as loneliness and sedentary lifestyles have exacerbated the problem, leading to a concerning rise in dementia cases year-on-year since 2020.
Ivory’s Innovative Approach
Ivory seeks to tackle this challenge through its innovative platform, which integrates curated content, personalized consultations, and gamified activities aimed at assessing and reducing the risk of dementia. By providing access to high-quality neurological advice and cognitive health monitoring tools, Ivory aims to empower aging individuals and their families in managing cognitive wellness effectively.
CEO’s Perspective
Isaac John, Co-Founder and CEO of Ivory, emphasized the historical lack of attention and understanding of dementia in India. He highlighted the challenges faced by urban seniors, particularly those living alone, in monitoring cognitive health, especially exacerbated by pandemic-induced isolation.
Focus on Cognitive Well-being
Rahul Krishnan, Co-founder and Chief Product Officer, highlighted Ivory’s commitment to enhancing cognitive well-being among seniors through skill-enhancing exercises, community-driven engagement, and neuroscience-backed assessments. Ivory serves as a mental fitness center for the silver economy, fostering a sense of belonging and mental acuity among its members.
Conclusion
With the support of investors and a dedicated team, Ivory is poised to make significant strides in promoting cognitive wellness and mitigating the risk of brain-related ailments such as dementia among the elderly population in India. Through its innovative platform and comprehensive wellness programs, Ivory is set to empower aging individuals to lead healthier and more fulfilling lives.