An app-based digital startup platform focused on senior citizens Khyaal has raised $ 4.2 million in a seed funding round mutually led by 62Ventures, SVQuad and Inventus Capital along with participation from Glen Tullman, Kanwal Rekhi, Raju Reddy, Raj-Ann Gill and its current investors including Everywhere Ventures, Supermorpheus & Unpopular Ventures.

In a press release, Khyaal said, “In the midst of the seed round closure, Khyaal has so far bagged a total capital of $5.4 Million in funding round. The newly raised capital will be utilized to empower retired citizens and develop its reach across the country”.

Established in the year 2020 by Hemanshu Jain and Pritish Nelleri, Khyaal allows the senior citizens above the age of 55 years to focus & attend live workshops, take part in fun-filled games, build safe payments, gain on-demand assistance, get the best offers, discover curated travel packages and get pleasure from many more benefits.

In accordance with the Mumbai-based company Khyaal, also the platform extends tailored financial services particularly for seniors as well as a smart payment card, Khyaal Card, equipped with high cybersecurity protection. Each & Every transaction finished with the Khyaal Card earns seniors Khyaal Coins that can be used to opt for exciting rewards within the Khyaal App.

Khyaal aims to have 1 million users of its app. The inventive startup competes with the other players in this field such as SeniorWorld, Get Setup, GoodFellows, Wisdom Circle and Genwise.