Yoga And Meditation Based Wellness Startup Mindhouse Raises $6 Mn

SUMMARY

Mindhouse offers yoga and meditation-based interactive classes, personal coaching sessions and DIY sessions to customers through its mobile app.

The startup currently gets 75% of its revenue from the Indian market but is eyeing the global market

The global yoga industry is estimated to be worth over $88 Bn

Curative wellness platform Mindhouse has raised $6 Mn in a seed round led by Binny Bansal. General Catalyst, Better Capital, Kwaish Capital, Anicut, and the founders – Pooja Khanna and Pankaj Chaddah also participated in this round.

Angel investors including Rohit MA of Cloudnine, Ritesh Malik of Innov8, and Karan Singh & Sri Rajan of Bain & Co. were also the participants.

Founded in 2019 by Pooja Khanna and Pankaj Chaddah, Mindhouse initially catered to mental wellness. However, subsequently pivoted to curative wellness. Currently, the startup offers a range of wellness services to patients suffering from health conditions and chronic illnesses that require significant lifestyle changes to tackle.

“Patients suffering from any long-drawn health condition, even pregnancy, always require a change in lifestyle in addition to clinical care,” said Pooja Khanna, Mindhouse’s cofounder.

Mindhouse offers yoga and nutrition programs focused on specific health conditions and caters to English-speaking customers globally. However, it generates 75% of its revenue from India. The startup said it is going to use part of the freshly raised capital towards increasing its global market share.

Its app and platform offers interactive classes, personal coaching sessions, and DIY sessions tailored around managing chronic conditions like diabetes, hypertension, thyroid and back pains.

The wellness market in India has been on a steady rise over the past few years. And according to FICCI, the industry is valued at INR 490 Bn. The growth has been backed by the rise in disposable income and the entry of private-sector investors

According to Inc42 DataLabs, the total market size of the healthcare industry in India is estimated to be $202 Bn, marking a growth of 84% from the $110 Bn market size in 2016. The global yoga industry is worth over $88 Bn worldwide and is projected to reach $215 Bn by 2025, growing at a CAGR of 11.7%; representing a massive market for yoga-based wellness companies to tap into.

Earlier this week, healthtech startup K&L Wellness Technology raised INR $4.03 Mn in seed funding from angel investors Vimal Kedia and Surendra Kedia of Manjushree Ventures and Narendra Firodia of Sohamm Group.