Dabur International’s director Gaurav Burman has reportedly picked up a 7.5% stake in mental health solutions startup Mitsu for an undisclosed amount.
As a part of the deal, Burman has also joined the board of the startup.
Commenting on the announcement, Burman said that the investment is part of his mission to invest in companies that are shaping the future of healthcare through innovative and people-centered solutions.
“We are thrilled to welcome Mr. Gaurav Burman as an investor in Mitsu. His support and guidance will help us move ahead with our strategy to create an accessible, convenient, and scalable solution for mental healthcare that can benefit over 40 percent of the adult population,” said Mitsu founder Amit Singh, as per The Hindu businessline.
Founded in 2023 by Singh, Mitsu is a guided self-therapy app that caters to users with anxiety and depression. As per the report, the platform offers an eight-week intensive programme that helps users build skills for lifelong emotional well-being.
The startup claims that users spend 25-30 minutes every week on the app, with an average user logging in two to three times a week. Mitsu claims its products are based on evidence-based approaches such as Cognitive Behavioural Therapy (CBT), mindfulness, and Acceptance and Commitment Therapy (ACT).
With an eye on addressing limitations of the conventional mental health ecosystem, Mitsu positions itself as an affordable and accessible app for a wider audience, including students.
The startup is also backed by angel investors such as DMI Finance founders Shivashish Chatterjee and Yuvraj Singh, and CoCubes ex-cofounder Harpreet Singh Grover.
The development comes at a time when the mental health solutions space is witnessing multiple developments. Earlier this month, mental health solutions startup LISSUN secured $1.3 Mn in funding to offer large-scale mental health solutions.
In August, actor Suniel Shetty announced a partnership with Veda Rehabilitation & Wellness cofounder and CEO Manun Thakur to launch a mental health app, Let’s Get Happi.
According to a study conducted by UnivDatos Market Insights, the Indian mental healthcare industry will grow at a CAGR of 15% from 2022 to 2028 as societal taboos around mental health continue to lose ground in the country owing to more awareness.
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