Elcare entered Shark Tank India with a mission that touched hearts: redefining eldercare in India through tech-enabled services delivered by ex-defense personnel. But in 2025, the startup is no longer operational, making it one of the more sobering stories from the show’s early seasons.
Let’s explore what happened before, during, and after their Shark tank pitch, and why this once-promising idea ultimately couldn’t sustain itself.
A Startup That Served the Most Overlooked: India’s Elders
Elcare was founded by Aashna Mutneja, Suresh Mutneja, and Pankaj Bhai with a compassionate vision. Their service wasn’t just about tech. It combined health, security, and companionship for the elderly, offering everything from emergency response to routine assistance.
Their pitch aired in Season 1, Episode 35 of Shark Tank India and instantly caught attention for tackling a rising problem in Indian society: how to care for aging parents in nuclear families.
Despite the noble mission and the unique use of ex-defense personnel as caregivers, Elcare faced some difficult questions from the Sharks.
What Happened on Shark Tank India?
The founders came in seeking ₹1 crore for 2.5% equity, valuing Elcare at ₹40 crore. It was a bold ask in a market that was emotionally compelling but notoriously difficult to monetize.
None of the Sharks made an offer. Concerns were raised about the scalability of the model and whether the service could go beyond a small, urban niche.
“This is a heartfelt idea, but I don’t see how I’ll get my money back. Scaling this without bleeding cash will be tough.”
“You are solving a real problem, but the operational challenges could break the business. It needs more time and perhaps a different model.”
The Shark Tank deal was not finalized, and the pitch ended with emotional encouragement but no investment.
If you were a Shark, would you have invested in Elcare?
Did Shark Tank Launch Elcare Into the Spotlight?
Although Elcare didn’t get a deal, the exposure on Shark Tank brought a wave of goodwill and recognition. The brand gained hundreds of inquiries from families, especially NRIs, looking to book services for their aging parents in India.
But this spike in visibility didn’t last.
The platform struggled with demand fulfillment, service quality consistency, and scaling challenges across cities. Operating across 11 cities with 226 clients was already resource-intensive before the show aired.
No major retail partnerships or government health alliances followed. And by mid-2023, their website and app were inactive.
Elcare Net Worth 2025
Since Elcare has officially ceased operations, there’s no valuation to report for 2025.
Their initial valuation of ₹40 crore in the Shark Tank pitch was never validated through external funding or scaled operations.
The business shut down without securing any other known investments.
Why Elcare Closed Down
The eldercare space in India is still evolving. But in Elcare’s case, the cost of maintaining quality, training ex-defense personnel, and ensuring real-time care across cities proved too much without a steady cash flow.
Without a Shark or a VC to fund their expansion or help them pivot, the team couldn’t keep it running.
Where Are the Founders Now?
Public updates on Aashna Mutneja and her co-founders are sparse. None of the three appear to have launched new startups as of 2025. Their LinkedIn profiles show no major activity tied to Elcare post-2023.
They seem to have stepped away from the public entrepreneurship space for now.
Could Elcare Make a Comeback in the Future?
With India’s aging population and increasing digital access, eldercare remains a space with huge potential. While Elcare is gone, the model of tech-supported, empathy-led care still holds promise.
If the founders or a new player with more capital and a scalable strategy enters the space, the idea could find a second wind.
TL;DR (Too Long; Didn’t Read)
Elcare aimed to transform eldercare in India with a compassionate model but shut down after failing to scale post-Shark Tank India.
FAQs
Is Elcare still in business in 2025?
No, Elcare shut down operations after facing scaling challenges and not securing any post-show funding.
Did Elcare get a deal on Shark Tank India?
No, none of the Sharks invested in Elcare during their Season 1 appearance.
Who were the founders of Elcare?
Elcare was founded by Aashna Mutneja, Suresh Mutneja, and Pankaj Bhai.
Why did Elcare shut down?
The company faced operational challenges and failed to secure the necessary funding or partnerships to scale profitably.