Today: Jun 14, 2024

Startups target longevity: aging-in-place is now their niche.

6 months ago
  • Startups targeting the senior market focus on longevity, ageing in place, anti-aging therapies, and promoting fitness and social wellbeing later in life.
  • Companies in this sector have received significant funding with investments being channeled into breakthrough anti-aging treatments, preventive medicine, fitness, and managing care for older adults.
  • Notable companies include Viome, which secured $86.5 million in funding for its RNA-based microbiome testing to promote healthy ageing, and CarePredict, which has raised $49 million for its AI-powered health monitoring platform for seniors.

With the population of older adults in the U.S. and other advanced economies growing significantly, startups have started taking notice and are addressing the needs of this demographic. These range from longevity-focused founders and investors replacing the concept of chronological with biological age, to business models simplifying healthcare, promoting fitness, and fostering social connection later in life.

The related funding trend has been tracked using Crunchbase data, revealing key areas of focus: anti-aging breakthroughs, preventative medicine, promoting fitness, and managing care. Specific companies in these sectors have received substantial investment. For instance, Viome, a provider of RNA-based testing for the microbiome, promoting healthy ageing via custom-formulated supplements, secured $86.5 million in funding. Similarly, Rejuveron Life Sciences raised $75 million for addressing foundational causes of cellular damage- a critical aging determinant. Concurrently, NewLimit has attracted a $40 million investment for reprogramming cells to younger states using epigenetics.

Mirroring these trends, early detection and preventative care startups focus on identifying symptoms and vulnerabilities before they become severe. Notably, Human Longevity, a company offering comprehensive testing to preempt various diseases, has raised over $340 million in total, with $10.5 million secured in 2023.

Another subset of startups is looking to promote fitness and group activities for older adults. Companies like Bold and Mighty Health offer personalized workout plans and health programs for older adults, respectively. The former has closed a $17 million Series A round, while the latter picked up $7.6 million.

Moreover, with people living more extended lives, startups are exploring ways to manage their care and finances. For instance, CarePredict raised $49 million for its health monitoring AI-powered platform. At the same time, Uniper-care Technologies has raised over $20 million to offer doctor visits and other content to seniors at home. Other startups are helping to manage complex care needs or ensure that finances are sufficient for longer lives such as Wellthy, which raised $78 million, and Carefull, which has received $16.5 million.

In conclusion, even though the overall startup funding has dropped this year, companies focusing on areas from life extension to senior care are still receiving significant investments. As the young founder group are also expected to grow old, the trend of senior-focused startups will continue to grow.