Goodfellows is a company that provides companionship services for senior citizens, and it was founded by Ratan Tata, a pioneer in the sector. The platform received seed funding from Ratan Tata, Chairman Emeritus of Tata Sons, at an undisclosed amount. The founder of GoodFellows, Shantanu Naidu, who serves as Mr. Ratan Tata’s business assistant, claims the advantages of his intergenerational connection with Mr. Tata and his affection for the elderly over the past few years have inspired him to set out on this adventure.
The service from Goodfellows is now accessible in Mumbai after a successful beta test that lasted for the previous six months. The following cities are Bangalore, Pune, and Chennai.
Goodfellows: Business Model
Young graduates are hired by Goodfellows to provide senior persons with companionship as a service. These graduates have the empathy and emotional intelligence required to assist elderly clients as their companions, making their days easier by assisting them with tasks or simply spending time with them.
Goodfellows has been running its beta phase in Mumbai with 20 elders for the past six months. It plans to offer services in Pune, Chennai, and Bengaluru in the upcoming phase. According to Shantanu Naidu, the services will be expanded throughout the country.
According to Naidu’s prior experience, the companions should engage in a range of activities with the clients, such as playing carrom, reading the newspaper, or even taking naps together. Creating bonds between grandparents and grandchildren is challenging, but Naidu says the company will ensure that real bonds can be formed.
Goodfellows: A Few Key Points
- Goodfellows’ objective is to build lasting bonds between seniors and recent graduates.
- At Goodfellows, each grandchild can provide any service they may need.
- The statement claims that 15 million senior citizens in India live alone, either because they have lost a partner or because their families had to emigrate due to unavoidable employment obligations.
- Goodfellows will address the issue of loneliness or a lack of company, which has been the main contributor to the decrease in mental and physical health.
- The bonds that Goodfellows has created between the two generations are of great importance and help India confront a serious social issue. Ratan Tata expressed his confidence that the funding will help the fledgling Goodfellows team mature.
Ratan Tata, the emeritus chairman of Tata Sons, has donated an unknown sum to the Mumbai-based firm Goodfellows, which matches seniors with young people prepared to be their companions.
“Bringing the two generations together has forged a strong bond that is helping to resolve a major social issue in India. I hope the investment aids in the growth of the Goodfellows team’s youthful members’’, Tata said.