After Ratan Tata, now Niranjan Hiranandani invests in Goodfellows

Founder and CEO of the Hiranandani Group Niranjan Hiranandani has made an investment in Goodfellows, a start-up offering senior citizens companionship, along with Shradha Sharma, founder and CEO of Your Story in a seed funding round. Both investors will be part of the firm’s advisory board.

Ratan Tata had also made an investment in the firm earlier this year in August. Funds will be used to expand operations in Mumbai as well as expand services to other cities like Pune, Kolkata and Bangalore.

“Goodfellows has understood the problem, looked for a solution and worked out a concept around it. This is what makes it wonderful and unique. It is a concept needed in today’s world” said Niranjan Hiranandani.

The firm also plans to test its corporate offerings with its first corporate contract.

“I believe some startups are meant to purely impact a community in a positive way and Goodfellows is a great example of that. As someone who is in entrepreneurship to create impact more than anything else, I am happy to see Shantanu and his team go in this direction,” said Shradha Sharma.

Goodfellows works based on a freemium subscription model. The first month is free. From the second month, the company charges a base subscription fee of Rs 5,000 per month which can be negotiated based on the limited affordability of pensioners.