Early-stage AgeTech venture capital firm Equitage Ventures has announced the final close of a new $47.3 million fund to expand its investment portfolio in the senior care sector. The funding 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).

Equitage Ventures positions itself as a specialized investor providing capital, distribution channels, and strategic advice to entrepreneurs who are developing solutions that address the unmet physical, mental, spiritual, and social needs of senior adults. The newly secured funds will be directed toward companies that Equitage identifies as capable of transforming healthcare in areas with "urgent need, real opportunity, or long-term transformation."

In a statement, Equitage Ventures outlined its investment focus, saying it will target 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."

The senior care market has seen significant investment activity as entrepreneurs and investors recognize the opportunities presented by the aging population demographic. Among other players in this space is The Helper Bees, which raised $35 million in Series C funding in January. The company has been using those funds to expand its platform with the aim of reaching more seniors and increasing its entry into new markets, including Medicaid.

The intersection of technology and senior care is evolving rapidly. 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. As part of this collaboration, Quartet Clinicians utilized the Clover Assistant platform, an AI tool that aggregates data to help health providers make decisions regarding chronic conditions.

In the technology-enabled care space, Intuition Robotics closed a $25 million funding round in 2023 for its AI-powered care companion robot for seniors experiencing loneliness. The round was led by Woven Capital, Toyota's growth fund, and included participation from OurCrowd, Toyota Ventures, Western Technology Investment, and other investors. The company's primary offering, ElliQ, is an AI-powered companion designed specifically for older adults living alone, with recent enhancements leveraging large language models and generative AI capabilities.