"ParentCare wants to develop a sustainable ecosystem, ensure peace of mind and recreate valuable family time by removing the hurdles to long-distance caregiving."
This investment will act as a catalyst for growth, helping to propel ParentCare’s product development and expand their services into other Indian markets.
The Indian diaspora (17.5 million in the United Nations) has always been dependent on their family and friends when arranging medical help for their parents in India. Now with more families than ever relocating for work and economic reasons, Indian expats are finding it increasingly difficult to rely on their support network. In addition, since the introduction of social distancing, the problem has only been amplified.
ParentCare was founded by Bharat Vasandani, a London-based NRI (Non Resident Indian). It is largely triggered by his own experience of arranging services for his mother in Mumbai. He says,“ParentCare helps NRIs with customised solutions based on their parents' medical requirements and beyond – booking taxi rides, requesting a team member to accompany parents at doctor appointments, buying travel insurance, storing the latest medical reports digitally or even connecting to nearby charity volunteers for non-medical help. ParentCare wants to develop a sustainable ecosystem, ensure peace of mind and recreate valuable family time by removing the hurdles to long-distance caregiving”.
In today’s era, NRIs still find it difficult to access and coordinate these services from outside the country due to the lack of a single umbrella platform. ParentCare aims to fill these gaps via technology and on-the-ground support.
Commenting on the investment, Luke Thomas, investment manager at Nova said, “We are incredibly excited to be working with ParentCare to solve one of the most complex and emotional problems that many people face today; looking after family members when you are not in the same location as them”.
Led by a passionate team, ParentCare have started serving the elderly before its official launch. Throughout lockdown the team arranged medicines from India for elderly Indian citizens stuck in the UK due to the coronavirus restrictions. Managing the entire process from purchasing the medicines to getting them safely delivered to their doorsteps. ParentCare has begun its operations in Mumbai with plans to cover all the major Indian metros in the next 3-4 years.
To learn more about ParentCare visit: www.parentcare.family
About Deepbridge Capital
Deepbridge Capital is a UK-based venture capital and investment management firm that provides financial support to ParentCare. The firm invests in disruptive technology, life science, and sustainable technology sectors
Nova is a UK based cofoundery that invests and mentors health tech start-ups. Some of the successful health tech start-up stories from Nova’s portfolio include Hy-genie, Orcha and Aquarate.