Early stage Agetech Venture Capital Firm Equitage Ventures has announced the final closing of its new $47.3 million fund.
The round was led by an investment team, including Daniel Kaplan and Russell Hirsch. Generator Ventures and Adam Kaplan, CEO of Solera Senior Living.
What it does
Equitage Ventures provides capital, distribution and advice to entrepreneurs targeting the unmet physical, mental, mental and social needs of senior adults.
The company will use this fund to invest in companies that view healthcare as being able to transform it into a field of perceived “urgent needs, real opportunities, or long-term change.”
In a statement, Equitage Ventures said it would invest in businesses related to “compliance infrastructure for senior residential and skilled nursing facilities, document automation for home and facility-based care, passive surveillance, oral hygiene, dementia and behavioral health, care navigation, and family care.”
Market Snapshot
Other companies in the senior care space include The helper bee raised $35 million in the Series C funding round in January. The company is using the funds to expand its platform, reaching more seniors and increasing entry into new markets such as Medicaid.
2024, Clover Health has partnered with the mental and behavioral health platform Quartet Health to bring value-based behavioral medicine to Clover members with severe mental illness through Clover Home Care.
Quartet clinicians have used the Clover Assistant Platform, an AI tool that aggregates data, to help providers make decisions about chronic illness. Their platform includes offerings to help individuals with serious mental illnesses.
2023, Intuition Robotics, a company that provides AI-powered care companion robots for seniors experiencing loneliness, has closed its $25 million funding round.
The round included participation from Toyota’s Growth Fund, led by woven capital OurCrowd, Toyota Ventures, Western Technology Investment and other investors.
The Intuition offering includes Elliq, a fellow AI-powered companion for the lonely seniors.
The company used its funds to strengthen the capabilities of ELLIQ with large-scale language models (LLMS) and generator AI to meet the demand for ELLIQ in healthcare organizations and government agencies.
