Startup funding – Ivory raises $500000

Revolutionizing Brain Health: Ivory’s Mission to Transform NeuroWellness

In a groundbreaking development for brain health, Ivory, an innovative startup in the tech sector, has recently secured a substantial funding injection of $500,000. Spearheaded by early-stage VC fund Capital A and TDV Partners led by Ujwal Sutaria, this funding round has garnered widespread attention within the investment community. Notable angel investors, including luminaries such as Abhishek Kabra, Tushar Vashisht, Abhishek Ganguly, and Rajeev Singh, have also joined forces to propel Ivory’s mission forward.

The primary objective behind this significant financial boost is Ivory’s ambitious plan to extend its outreach to over 15 million elderly individuals across India who are particularly susceptible to dementia. This expansion marks a pivotal advancement in addressing the largely overlooked domain of neurowellness, where Ivory aims to make a profound impact.

Isaac John, Ivory’s visionary Founder and CEO, articulated the company’s mission, stating, “With this fundraise, we aim to bridge the existing gaps by providing a tech-driven platform that facilitates access to clinical tools and expertise for improving brain health among millions of Indians.”

The urgency of Ivory’s mission cannot be overstated, given the alarming prevalence of dementia among individuals aged 55 and above in India. Shockingly, statistics reveal that one person in India faces the risk of dementia every 20 seconds, underlining the pressing need for intervention. Contributing factors such as social isolation and sedentary lifestyles have exacerbated this burgeoning crisis.

Since 2020, there has been a disturbing year-on-year surge in dementia cases, with the latest reports indicating a staggering increase from an estimated 5.3 million in 2020 to 8.8 million in 2023. Furthermore, adults aged 50-70, even with mild cognitive impairment, face a daunting 1 in 3 chance of progressing to dementia within five years, underscoring the critical need for heightened awareness and action in the field of neurohealth.

Recognizing the inadequacy of attention towards dementia, Isaac John emphasized, “Historically, there has been insufficient attention and understanding of dementia, especially in India. The lack of symptom identification tools, coupled with limited access to high-quality neurological advice, exacerbates this pressing issue for every Indian household with an ageing parent.”

Rahul Krishnan, Co-founder and Chief Product Officer of Ivory, echoed this sentiment: “At Ivory, we are pioneering a platform dedicated to the cognitive wellness of seniors and fostering healthy brain habits.”

Ivory’s innovative platform integrates curated content, personalized consultations, and gamified activities to assess and mitigate the risk of dementia. By offering a diverse array of interactive content, social games, neuroscience-backed assessments, and comprehensive wellness programs, Ivory caters to individuals aged 55 and above, including retirees. Through skill-enhancing exercises, community-driven engagement, and assessments, Ivory serves as a mental fitness centre for the silver economy, fostering a sense of belonging and enhancing cognitive well-being among its members.

In conclusion, Ivory’s groundbreaking initiatives in the realm of brain health signify a paradigm shift in addressing the pressing challenges posed by dementia and cognitive decline among the elderly population in India. With its innovative platform and unwavering commitment to neuro wellness, Ivory is poised to revolutionize the landscape of mental health and empower millions of individuals to lead healthier, more fulfilling lives.