Hemanshu Jain recalls his father struggling with online transactions. Thus, his dad used to call him to pay bills online or to order home supplies. Hemanshu had to do everything remotely.
We all face the same scenario in our lives where we are the bridge between our parents and the online world. But why don’t we make them independent? The Khyaal app was developed as the answer to this question. This application creates a virtual environment and solves the technological queries of elderly people at one place.
| Startup Name | Khyaal and Khyaal app (Android & iOS) |
| Founders | Hemanshu Jain, Pritish Nellari and Alok Soni |
| Industry | Technology |
| Company Classification | Private Limited |
| Headquarters/based-in | Mumbai, Maharashtra, India |
| Idea | To help senior citizens overcome the challenges of the digital world. |
| Revenue | Estimated $200,000 annually |
| Date of Commencement | 2020 |
| Investments | February 2024: raised $4.2 million from 62 ventures (seed investment).
Total funding: $9.6 million (3 rounds) |
| Number of Employees | 24 as of October 2024 |
| Number of Customers | 2,000,000 senior citizens |
Competitors: GenWise, Phoniro, Conpago, Aapkilathi, Sioslife, Seniors Hive
The Problem: Why Does This Matter?
The world is moving at a fast pace, and it is difficult for older generations to catch up with the technologies and gadgets. Although the gadgets and all seem to make our lives easier, our elders find it difficult to use them.
Lack of digital literacy and hesitation to seek help from kids and grandchildren makes things more complex. Moreover, children or grandchildren are not willing to help the elderly or make fun of them, which does more damage to their morale.
Quick Fact: Presently, there are more than 140 million senior citizens. This digit is expected to reach 194 million by 2031.
The Solution: Khyaal
Hemanshu Jain (39) teamed up with Pritish Nelleri (38) to develop the Khyaal app for senior citizens. Prior to this, Hemanshu had co-founded Diabeto and it was then that he noticed the difficulties faced by senior citizens in handling modern devices.
Khyaal app was founded amidst the pandemic in 2020 to cater to the urgent need to spread the good word around and reduce anxieties and panic among senior citizens.
Originally started as a WhatsApp group based in Mumbai, Khyaa provided support and entertainment to isolated people (elderlies).
Adding games like Tambola made the app more popular among senior citizens and more than 10,000 people participated through the WhatsApp group.
Started without a clear roadmap, but later the founders decided to build a platform to organize workshops, almost like a classroom setup.
The App Launch
Finally, in 2022, the Khyaal app was launched. This app enables senior citizens to grow digitally without needing assistance from others.
Similar to the WhatsApp group, the app also helps them navigate various daily applications like Swiggy, BigBasket, and more.
Therapeutic While Learning
Hemanshu made the app a one-stop solution that offers multiple services: money management, recreation, TV shows, travel, healthcare, and much more.
Interestingly, the app has entertainment features where old Doordarshan series are screened along with quiz nights, cooking classes, and obviously, the very famous Tambola night along with many more things.
Moreover, to promote a healthy active lifestyle among senior citizens, Khyaal brings specially curated travel packages which are both comfy and safe.
Business Model: How Do They Make Money?
With an annual membership plan ranging between Rs 999 and Rs 1499, Khyaal generates revenue. The estimated revenue of Khyaal is around $200,000 annually. Moreover, the company aims to achieve a revenue of $1 million by FY2025.
Challenges/Struggles: What Roadblocks Are They Facing?
Challenge: Senior citizens were primarily concerned that their primary bank accounts are vulnerable to fraud.
Solution: They created a Visa-powered Khyaal card featuring cybersecurity coverage. With this, users can create a secondary bank account.
Also, users can earn Khyaal points for participating in events. Also, users can invest in digital gold with Khyaal Digi-Gold in partnership with Caratlane.
This way, the Khyaal team made transactions safe and investment interesting for senior citizens.
Future Vision: What’s Next?
After immense success across India and becoming India’s top app for senior citizens, Khyaal app is planning more expansion. Presently, major users are from metro cities like Chennai, Delhi, Hyderabad, Kochi, Mumbai, and more.
Hemanshu and Pritish are working on regionalization of the app, so that, audiences (from Tier 3 cities) with different language backgrounds can benefit from it.
Key Takeaways: Why Should Users Care?
From Khyaal we can learn that there is always a solution to our problems. Attending the societal problem as a whole can help in filling up the gap. We all can also do so by identifying such issues and providing solutions for the same by targeting a specific group of people.
Picture Credits: Khyaal
