Athulya to raise $10 million

Athulya, a geriatric healthcare start-up headquartered in Chennai, is in talks with venture capitalists to raise $10 million to increase its offering of assisted-living services to senior citizens by fourfold in two years.

“The funds will be used to improve geriatric healthcare in the country by developing facilities and for expanding our service regions,” said R. Karthik Narayan, MD, Athulya Assisted Living Pvt. Ltd. in a statement.

Currently, Athulya offers 250-bed facilities across four locations in Chennai. Plans are on to double them within eight months. Within two years, another 500 beds will be added by foraying into Bengaluru and Hyderabad.

“Our aim is to become a 5,000 bedded facility in the next five years by offering our services in the Southern States. Till date, we have served more than 12,000 senior citizens services through our assisted-living services in senior living communities, senior living rental model and geriatric home healthcare services serving,” he said.

Dr. Narayan added that the assisted living sector is expanding drastically in spite of the limited awareness amongst the people about such services.

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