How Khyaal, India’s number one app for Senior Citizens is Revolutionising Senior Care in India
CXOToday has engaged in an exclusive interview with Hemanshu Jain, Co-Founder & CEO, Khyaal
- Can you share the inspiration behind founding Khyaal and the vision you and Pritish Nelleri had in mind for senior citizens in India?
The idea for Khyaal originated from my personal experience. I used to travel extensively for work, and my father would call me up for basic tasks like OTT renewals during my trips without realising the difference in time zones and meeting his requests in a timely manner would prove challenging on most occasions. This was a regular occurrence and I could clearly see the dependence that he had on me to do these simple things. Through my interactions with various individuals during my travels, I recognised that my challenges were part of a widespread issue that affected many and hence delved into researching and engaging with seniors, giving birth to the concept of Khyaal. When I shared this vision with Pritish Nelleri, our Co-Founder & COO, it resonated deeply with him, especially envisioning the positive impact on seniors, including our own parents.
2. Khyaal offers a wide range of services tailored for seniors. Could you elaborate on how these offerings work together to address the comprehensive needs of senior citizens?
Khyaal was built to address the challenges that seniors face in modern times. Our app is designed to empower seniors to take control back in their lives, tackling challenges such as loneliness, digital literacy, online financial and non-financial fraud, disinformation, lack of access to healthcare, support, and travel, as well as a lack of opportunities for engagement. Our digital-first approach leverages the power of technology to give seniors barrier-less access to solutions they are looking for, such as digital literacy training, entertainment, financial services with the Khyaal Smart Payment Card, on-demand assistance, curated travel plans, and the AI-powered Memory Lane feature.
3. Please elaborate on Khyaal’s Smart Card and its benefits.
The Khyaal Smart Card is India’s first smart payment card for seniors. Equipped with cybersecurity protection, it ensures secure transactions. Seniors earn Khyaal Coins with every transaction using the Khyaal Smart Card and use them to redeem exciting rewards within the Khyaal App. The Smart Payment Card enhances security and convenience for seniors while making payments, contributing to their overall well-being.
4. The recent USD 4.2 million seed funding round is a significant milestone for Khyaal. What do you believe attracted investors to Khyaal, and how do you plan to utilize these funds to further your mission?
Our investors could resonate with the impact that we are creating in the lives of more than a million seniors and believe in our mission to empower seniors with the help of technology. These funds will be instrumental in furthering Khyaal’s mission, accelerating innovation, extending our reach, and enhancing the lives of seniors.
5. How do you envision Khyaal evolving in the next five years, and what legacy do you hope it will create for senior citizens in India and potentially beyond?
Over the next five years, we aim to cultivate a dynamic digital ecosystem tailored to seniors, supplemented by offline mediums. Our strategy encompasses not only quantitative growth but also fostering genuine connections, thereby enhancing the quality of life for senior citizens across diverse communities in India and potentially beyond. Our goal is to make retirement easier and enrich seniors’ lives through engagement, learning, and fostering independence.
6. Looking ahead, what are Khyaal’s future plans for expanding its reach and impact within the senior citizen community, both in India and potentially beyond?
Our future plans involve expanding our footprint within the senior citizen community, spanning across emerging markets in India. We aspire to establish a vibrant and inclusive digital ecosystem that empowers seniors, promoting independence and fostering connections. By seamlessly integrating digital solutions with real-world engagement, our overarching goal is to contribute significantly to the well-being and fulfillment of seniors.
