Health

Singapore-headquartered Mind raises further $10M in Sequence A extension



Mind introduced final Tuesday that it has raised one other $10 million in a Sequence A extension, bringing the Sequence A complete to $20 million after its launch two years in the past.

Following a funding spherical led by Tiger World, the psychological well being startup mentioned in a press assertion that “the extra capital makes this the biggest enterprise spherical raised by any psychological well being firm in Asia”.

In an announcement on its web site, it additionally added that it seeks to scale its business enlargement plans and groups throughout the area utilizing the funds.

“With its tech-empowered, end-to-end holistic strategy, Mind is poised to turn out to be a frontrunner in providing entry to psychological healthcare throughout Asia,” mentioned Jay Chen, associate at Tiger World.

In addition to Tiger World, new buyers together with JAFCO Asia, Singtel Innov8, PERSOL Holdings and K3 Ventures joined this funding spherical. Current buyers HOF Capital and Insignia Ventures Companions additionally took half.

The corporate in January raised $10 million in Sequence A funding, led by HOF Capital.

WHAT IT DOES

Described to be “Asia’s largest and fastest-growing psychological well being startup”, Mind has served greater than three million individuals in additional than 60 international locations. The corporate additionally has therapists and coaches based mostly in 20 international locations, whereas offering self-guided and protection programmes in 15 languages.

In the identical assertion, Mind focuses on “constructing the area’s first digitally-enabled, fully-stacked psychological healthcare system, making certain it turns into the worker wellbeing answer of alternative for all workforces throughout Asia-Pacific”.

It at present works with companies reminiscent of Merck and Shopee.

Aiming to normalise psychological wellbeing discourse at work, the corporate facilitates “well timed interventions by fostering optimistic behavioural shifts by way of self-guided cognitive behaviour remedy programmes”.

WHY IT MATTERS

Mind performed a 2021 Asia-Pacific office well being research, which confirmed that 84 % of respondents within the area cited “excessive ranges of exhaustion” and 88 % reported being “disengaged from work”.

“Mind’s mission is to normalise psychological well being and shift the tradition in the direction of extra open conversations about private wellbeing, in the end eradicating the stigma hooked up,” mentioned Theodoric Chew, Mind’s co-founder and CEO.

“Our aim is to play a number one position in fixing the area’s psychological well being disaster, and we’re actually excited to be on the forefront of driving this cost.”

MARKET SNAPSHOT

In the meantime, different psychological well being startups have additionally gained momentum in Asia.

Psychological well being startup TheShareCo this month launched its cell app in Singapore. Accessible on Android and iOS working techniques, it presents on-line on-demand counselling for its customers with out having to reply pre-consultation questionnaires.

In February, Indian psychological well being startup heyy raised $555,000 in pre-seed funding led by Wavemaker Companions. Downloadable on iOS and Android, it offers entry to therapists in English, Hindi and different languages.



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