LegUp Secures Funding for Innovative Caregiving Solutions

Bengaluru-based caregiving-tech startup LegUp, known for its platform that connects modern families with reliable caregivers, has successfully raised pre-seed funding of Rs 2 crore ($250K) from Bluebridge Capital Private Limited. This funding represents LegUp’s inaugural official fundraising effort since it began operations in May 2024.

Investment Utilisation Plans

The funds will be invested in enhancing the company’s technology and operational capabilities, driving growth and expansion. A considerable share of this investment will also support the development and launch of two new mobile applications.

Comprehensive Caregiving Services

LegUp provides an extensive array of high-quality caregiving and companion services tailored for both infant care and elderly care markets. Their offerings include japa nanny services, babysitting, and homecare assistance for the elderly. To date, the platform has successfully onboarded over 10,000 skilled caregivers.

Rapid Growth and Revenue Goals

LegUp is experiencing swift growth, achieving a remarkable 40% month-over-month revenue increase. The company has also established a robust foothold in Bengaluru, reaching a Monthly Recurring Revenue (MRR) of Rs 22 lakh and setting its sights on an annual revenue target of Rs 15 crore for the forthcoming fiscal year.

Market Potential in Child and Elder Care

The childcare sector in India is forecasted to generate more than $25,892 million in revenue by 2030, with a compound annual growth rate (CAGR) of 5%. Concurrently, the Indian elder care market, which presently stands at $7 billion, is anticipated to skyrocket to $50 billion by 2030.