Fireside Ventures led the funding round, with participation from a host of angel investors and family offices
Amaha counts Lightbox Ventures, Capricorn Partners and Info Edge CEO Hitesh Oberoi as among its investors
The startup is aiming for Ebitda-level profitability over the next 15-20 months
Mental health startup Amaha Health (erstwhile InnerHour) has reportedly secured INR 50 Cr (around $6 Mn) in a fresh funding round led by Fireside Ventures, with participation from a host of angel investors and family offices.
While, Fireside Ventures invested INR 36 Cr, the remaining INR 15 Cr was invested by angel investors and family offices.
Founded in 2016, Amaha Health operates three physical centers of business located in Mumbai, Bengaluru, and Delhi NCR. With a team of over 150 therapists and psychiatrists, the startup, led by founder and CEO Amit Malik, offers psychiatry and various mental health services. Amaha functions as a tech-driven omnichannel mental health platform, addressing the treatment gap in mental health care in India.
The startup counts Lightbox Ventures, Capricorn Partners and Info Edge CEO Hitesh Oberoi as among its investors.
In a statement, Malik mentioned, “The INR 50+ Cr infusion strengthens Amaha’s position as a leading mental healthcare provider in India and accelerates the company’s strategic expansion plans.”
In addition to its direct-to-consumer services, Amaha collaborates with corporate clients such as Godrej, Cipla and Grant Thornton as part of its B2B revenue stream. At present, the B2B segment constitutes 20% of the company’s overall revenues.
“We are also aiming to hit Ebitda-level profitability over the next 15-20 months,” Malik said in a statement.
The Indian mental wellness startup landscape includes well-funded players such as Wysa, LISSUN, Shyft (formerly Mindhouse), Sukoon, Trijog, YourDOST and Mitsu among others, to have raised capital in the past couple of years.
The development comes at a time when the mental health solutions space has been gaining traction from multiple investors.
For instance, in September last year, mental health solutions startup LISSUN secured $1.3 Mn in funding to offer large-scale mental health solutions.
