Primus Senior Living has raised $20 million in seed funding round led by General Catalyst, with participation from Zerodha co-founder Nikhil Kamath, and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai.

The funding will be used to develop a comprehensive eldercare platform that offers a wide range of services, including healthcare, wellness, lifestyle, and social engagement—all delivered in the comfort of the elder’s home.

YourStory had earlier reported that Primus Life is looking to raise up to $25 million in a funding round, and had initiated discussions with other private investors.

The investment also marks a major milestone in Primus’ mission to develop India’s first full-stack solution for senior care.

Led by Adarsh Narahari, Primus is providing personalised solutions that cater to the unique needs of seniors, fostering a sense of belonging and purpose.

By leveraging technology and a strong service infrastructure, Primus aims to ensure that elders can age with dignity and maintain a high quality of life in their own homes, said a release by the company.

“This investment marks a transformative moment in our mission to enrich the lives of our elders in India. At Primus, we envision a future where aging is not seen as a burden but as a cherished phase of life. Our goal is to create a vibrant, inclusive ecosystem where seniors are not only cared for but celebrated—surrounded by love, connection, and purpose,” said Narahari, Founder and Managing Director of Primus.

With the home as the focal point of care, Primus is also building intergenerational communities where people of all ages can live, connect, and thrive together, creating environments that foster meaningful relationships and cater to the evolving needs of seniors.

“India could become a really exciting destination for retirement migration in the next decade. Think about it—our hospitality, our culture, our landscapes—we’ve got all the right ingredients to build a compelling ecosystem for retirees, both local and global. The eldercare space could be a huge entrepreneurial opportunity as well,” said Kamath.

“India is getting older, and with the rise of nuclear families, we need to rethink how we take care of our elderly. The traditional approach doesn’t always work anymore. We need new-age solutions—like what Primus is creating—to give people the care, comfort, and dignity they deserve as they age. This is just the beginning,” he added.

“Solving for elders and their needs is a deeply personal problem statement, as I am sure with many in our generation. As India grows older, we need to reimagine how we service our Elders in a manner that preserves their agency and expands their quality of life. Primus aims to achieve this with ‘Home’ as an anchor, creating mini ‘Blue Zones’ for our Elders with a tech & data-first solution that combines health, community, purpose, and lifestyle,” said Priya Mohan, Partner at General Catalyst.

India’s Gen Z population, now at 377 million, is not just the largest generation in the country’s history but also a powerful economic force with a collective spending power of $860 billion, a report has revealed.

Gen Z is the generation of people born between 1996 and 2010.

The “The $2 Trillion Opportunity: How Gen Z is Shaping the New India” report by technology firm Snap (parent company of Snapchat) and Boston Consulting Group (BCG) revealed that Gen Z currently holds a collective spending power of $860 billion, accounting for 43 % of India’s total consumer expenditure.

“Gen Z is already driving 43% of India’s consumer spending. Their influence is not limited to select categories —it cuts across categories ranging from fashion, eating out, to automobiles and consumer durables,” said Nimisha Jain, Senior Partner and Managing Director, BCG India.

Gen Zs are poised to play an increasingly vital role with their spending power projected to reach an astounding $2 trillion by 2035, the report said.

Collective spending consists of direct spending—made by working Gen Zs with their earnings, and influenced spending—by dependent Gen Zs; these spends are mostly made by families where Gen Zs play an active role in influencing product/brand choice.

Direct spending currently stands at $200 billion, with 1 out of every 4 GenZs in the workforce. The figure is projected to reach $250 billion by 2025 when every second Gen Z will be working, the report said.

“By 2035, these figures (direct spends) are expected to change dramatically, with direct spending projected to reach $1.8 trillion, implying that every second rupee of consumer spend in 2035 will be driven by Gen Z,” it said.

The report is based on the findings of a survey carried out among around 1,000 parents to evaluate their influence, alongside insights gathered from around 1,200 Gen Zs and millennials to identify their core values and purchasing behaviours. It also took insights from the combined expertise of BCG and Snap in the domain.

Further, Jain said it is important for marketers to take note that this generation is driven by unique values and beliefs, however, it was observed that only 15 % of brands surveyed are actively taking steps to tap into this opportunity.

“For businesses, understanding and authentically engaging with Gen Z isn’t just good to have; it’s necessary for winning today and will be imperative for survival tomorrow,” she said.

The report said that while 45 % of businesses acknowledge Gen Z’s potential, only 15 % have actively leveraged these insights—a gap that presents brands with a prime opportunity to forge deeper connections with the generation shaping India’s consumer future.

It recommended rapidly innovating in line with trends, integrating social interaction throughout the shopping journey, providing visually immersive experiences both online and offline, and engaging with the right influencers in the right way as initiatives brands should take to capitalise on the opportunity.

Mayank Kumar, Co-founder and Managing Director of upGrad, has stepped down from his operational role as MD, but will remain involved in the edtech company’s strategic decisions while working on his new venture.

Ronnie Screwvala, Co-founder and Chairperson of upGrad, will be taking on a more hands-on role at the edtech company.

“I have recently (end September) stepped down as MD of upGrad into a less operating role. Ronnie and I have swapped roles. Though as a cofounder / director / shareholder—I am active in all strategic directions of the company and leading the sector at various forums and being the face of upGrad,” Kumar told YourStory.

“My strengths have been in learning experiences, pedagogies, forging partnerships and identifying new growth areas, and my efforts will be to double down on these areas at upGrad,” he added.

Kumar’s new venture aims to focus on helping skilled Indian blue-collar workers find career opportunities abroad.

“Outside of a strategic role at upGrad, I personally am excited about the Blue Collar and Global Talent Mobility space—something not in conflict with upGrad—and so I am starting up once again, now in this space,” he shared.

“We will be starting with nurses / geriatric care professionals to European markets and then expand to other roles and other markets, making India the talent supplier for the global economy,” Kumar explained.

The Economic Times was first to report this development.

The report states that upGrad is nearing the completion of a $50-$60 million funding round from existing investors at a steady valuation of $2.25 billion. It also mentions that the Mumbai-based firm is preparing for an initial public offering (IPO) in the near future.

upGrad’s IPO move isn’t surprising, as another unicorn, PhysicsWallah, which recently raised $210 million in a challenging edtech funding climate, is now preparing for an IPO to capitalise on the thriving public markets in India.

In June this year, the Mumbai-based firm raised Rs 287.5 crore in debt from Singapore-headquartered EvolutionX Debt Capital, with the proceeds intended for growth capital, funding operating expenses, and general corporate purposes.

The Screwvala-led company has also made several top-level management changes over the last 12-18 months to strengthen its leadership. At the beginning of 2024, the edtech company hired CP Gurnani, the former CEO and MD of Tech Mahindra, as an independent non-executive director to its Board.

In FY23, the edtech company recorded a revenue of Rs 1,194 crore, up 96.4% from the previous financial year’s Rs 608 crore. Its losses widened 76% to Rs 1,141 crore compared to Rs 648 crore in the prior year. It has not filed its FY24 numbers yet.

Founded in 2015 by Screwvala, Kumar, and Phalgun Kompalli, upGrad operates across various educational sectors, encompassing test preparation, study abroad programmes, undergraduate degrees, and courses in collaboration with over 300 university partners.