Wellcore: Old Age Revitalized with Technology
Date: Tuesday , November 03, 2009
In 2007, while researching solutions that could help him take care of his aging relatives in India, Vijay Nadkarni, Founder, President and CEO of Wellcore Corporation was amazed at the lack of suitable products in the market for remote monitoring. He founded Wellcore Corporation (formerly Laburnum Networks) with the objective of not only meeting a critical market need, but also making the world a better place for advancing baby boomers and seniors. Nadkarni got Jeetendra Jangle, a brilliant engineering head from his past company to join him as Co-Founder, and subsequently they built team at Wellcore.
Wellcore builds a revolutionary product line for the remote monitoring of individuals, with an unparalleled ability to detect, interpret and even predict their safety, wellness and lifestyle metrics accurately. A wirelessly enabled system based on sensitive miniature sensors, Wellcore applies novel signal processing technology they have invented to assess human wellness characteristics – round the clock (indoor and outdoor) reliably. Filling a critical need that exists in the industry, the system has received rave reviews from third parties.
Wellcore’s business plan and product were so compelling, they received multiple term sheets from VCs in May/June 2009 for their Series A funding, during the most difficult period to raise money. They closed their Series A round with Menlo Ventures, among the industry’s most elite VC firms, with DuBose Montgomery, the founder and head of Menlo, and an icon of the VC industry on Wellcore’s Board of Directors.
A graduate of IIT Bombay, with an MBA from Northwestern (Kellogg), Nadkarni earlier co-founded ipVerse (later Veraz) which went public in early 2007. He hopes that Wellcore will play a small but meaningful role in the revamping of the healthcare system, providing independence and security to the aging population.