Mental health platform LISSUN has raised $1.3 Mn in a seed funding round led by Inflection Point Ventures (IPV) & Rainmatter Capital. The round also saw participation from existing investors including IvyCap Ventures, WFC, GrowX Ventures and angel investors.
Founded in 2021 by Krishna Veer Singh and Tarun Gupta, the Gurugram-based startup aims to address contemporary mental health issues by offering expert guidance, therapies, and comprehensive solutions for emotional and mental well-being.
LISSUN provides a full spectrum of mental health care, utilising technology for self-diagnosis and offering holistic treatments for patients. Commenting on the funding, cofounder Singh stated, “This investment validates LISSUN’s innovative approach to scalable solutions in the mental health sector.”
Singh further noted that the fresh capital will accelerate LISSUN’s journey toward fulfilling its vision of large-scale mental health solutions, ensuring accessibility for all in need.
The funding will be used to enhance technological innovation, improve product offerings, introduce new services, and forge partnerships with healthcare institutions and other organisations.
The latest investment brings LISSUN’s total funding to $2.3 Mn. Currently, the startup has reach in over 40 cities in India and has recently launched a child healthcare program called ‘Sunshine by LISSUN.’
The startup aims to leverage the Business to Healthcare to Consumer (B2H2C) strategy, partnering with healthcare institutions to effectively address high-stress medical conditions including infertility, rehabilitation, nephrology, and oncology.
A study by UnivDatos Market Insights predicts that the Indian mental healthcare industry will grow at a CAGR of 15% from 2022 to 2028. Although the industry is still in its nascent stage, with societal taboos impacting its growth, more people are beginning to seek help.
Last month, actor and investor Suniel Shetty joined Manun Thakur, the founder and CEO of Veda Rehabilitation & Wellness, to launch a mental health app, Lets Get Happi, that will offer 24×7 access to real-time therapy.
Last year, another mental healthcare startup Wysa bagged $20 Mn in its Series B funding round to venture into the markets of the US, UK, and other international markets, and further offer its services in vernacular languages.
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