Early-stage AgeTech venture capital firm Equitage Ventures announced the final close of a new $47.3 million fund.
The round was led by an investment team that includes Daniel Kaplan, Russell Hirsch (a cofounder of Generator Ventures) and Adam Kaplan (CEO of Solera Senior Living).
WHAT IT DOES
Equitage Ventures provides capital, distribution and advice to entrepreneurs who target senior adults’ unmet physical, mental, spiritual and social needs.
The company will use the funds to invest in companies it deems capable of transforming healthcare into areas where it perceives “urgent need, real opportunity or long-term transformation.”
In a statement, Equitage Ventures said it will invest in companies involved in “compliance infrastructure for senior housing and skilled nursing facilities, documentation automation for home and facility-based care, passive monitoring, oral health, dementia and behavioral health, care navigation and family caregiving.”
MARKET SNAPSHOT
Other companies in the senior care space include The Helper Bees, which in January raised $35 million in a Series C funding round. The company used the funds to expand its platform, aiming to reach more seniors and increase its entry into new markets such as Medicaid.
In 2024, Clover Health partnered with mental and behavioral health platform Quartet Health to bring value-based behavioral healthcare to Clover members with severe mental illness through Clover Home Care.
Quartet Clinicians used the Clover Assistant platform, an AI tool aggregating data to help health providers make decisions regarding chronic conditions. Their platform includes offerings to help individuals with serious mental illness.
In 2023, Intuition Robotics, a company offering an AI-powered care companion robot for seniors experiencing loneliness, closed a $25 million funding round, which included $20 million in venture capital and $5 million in venture debt.
The round was led by Woven Capital, Toyota’s growth fund, and included participation from OurCrowd, Toyota Ventures, Western Technology Investment and other investors.
Intuition’s offerings include ElliQ, an AI-powered companion for lonely older adults.
The company used the funds to enhance ElliQ’s capabilities powered by large language models (LLMs) and generative AI and to meet the demand for ElliQ across healthcare organizations and government agencies.
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