Dramatic Funding Boost for Mental Health Startup Amaha.
Amaha Secure Funding Boost. Joining the major league of fundraisers, Amaha, a top-of-the-line mental health startup, recently secured ₹50 crore in a substantial Series A funding round. Fireside Ventures brilliantly spearheaded this fundraising effort, along with the generous contribution of ₹15.6 crore from other change-making angel investors.
Investing in Mental Health – The Amaha Vision
Previously known as InnerHour, Amaha’s vision for this new funding is clear and ambitious. They seek to leverage this funding towards the enhancement and broadening of their mental health services, thereby elevating the conversation around mental health to new heights.
Based in Mumbai, Amaha is not shy of creating inclusive treatment plans for complex mental health conditions such as anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions. In fact, it takes pride in serving expanded regions, reaching across a staggering 600 cities in India.
Dramatic Funding Boost for Mental Health Startup Amaha – Estabizz
The Catalyst – Fireside Ventures
Fireside Ventures is no newcomer in the field of strategic investments. Predominantly investing in consumer-focused startups, it can boast a diverse portfolio encompassing various sectors such as food and beverage, personal care, kids and education, lifestyle, and home products. Its recent investments into wellness startups such as The Good Bug and Inito further highlight its commitment to this blossoming field.
Riding the Wave of Recognition for Mental Health Startups
The escalating recognition for mental health startups in recent years is not an accident. A wave of heightened awareness sparked by concerned celebrities, proactive organizations, and robust social media platforms has served as the powerful catalyst for this change.
Founded in 2016, Amaha is already making significant inroads in this direction. Operating both on-ground centres in Mumbai, Bengaluru, and Delhi NCR, as well as online through an app that offers a range of self-care tools and resources, they’re helping to transform mental health one client at a time.
Looking into the Future of Amaha
“There is a lot of unmet need within the industry, and our aim is to go beyond merely digital services,” shares Amit Malik, the founder and CEO of Amaha.
Despite accounting for losses in 2023, Amaha’s proactive investment into infrastructure — physical clinics and technological enhancements — shows a forward-looking and profitable forecast. The upbeat outlook reflects confidence, with the CEO expecting the company to turn profitable in the next 15-18 months.
Dramatic Funding Boost for Mental Health Startup Amaha – Estabizz
Flashback to Previous Fundraisers
Amaha’s history of funding is just as impressive. In 2021, it successfully raised $5.2 million with the assistance of venture capital giant Lightbox Ventures. Notable angel investors included Capricorn Ventures & Micasa Investments (Singapore), Pankaj Sahni, CEO Medanta–The Medicity Hospitals, and Hitesh Oberoi, CEO & MD, Info Edge India Pvt. Ltd.
The mental health startup Amaha is now poised to explore uncharted territories in treatment, thanks to this successful accumulation of capital, becoming a standout among recent mental health startups. What is crystal clear is that this funding is more than just money. It’s a tangible mark of faith in Amaha’s groundbreaking mission, representing a collective push toward a future where mental health isn’t just an after thought, but a fundamental priority.
