BetterSpace Secures ₹4.5 Million in Pre-Seed Funding to Boost Mental Healthtech Expansion

• ByStartupStory     |    December 13, 2023

Chhattisgarh-based mental healthtech startup BetterSpace has successfully raised ₹4.5 million in its inaugural pre-seed funding round, led by the well-known startup community-builder and accelerator PedalStart. Prior to this funding round, BetterSpace primarily relied on bootstrapping to fuel its operations.

The startup has articulated its plans for the freshly acquired capital, with a focus on enhancing both its offline and online services. BetterSpace aims to develop a new range of products, including games and toolkits, while also concentrating on improving marketing strategies and brand visibility. Additionally, the funds will be allocated towards optimizing technology and the app to ensure accessibility across various devices. Strengthening talent acquisition is another key strategic area identified by the company.

Shivli Shrivastava and Abhilash Shrivastava, Co-Founders & Directors of BetterSpace, expressed their excitement about the pre-seed round, emphasizing its significance in supporting the sustainable growth of BetterSpace. The funds, they noted, will not only address short-term working capital needs but also contribute to long-term stability and growth, enabling BetterSpace to advance in a financially prudent yet socially impactful manner.

BetterSpace, which participated in PedalStart’s ‘Zero-to-One’ cohort in 2022, aligns its mission with promoting improved mental wellness, emotional resilience, and happiness across communities. The startup envisions a world where everyone has access to quality mental healthcare, irrespective of their background or location.

Manas Pal, Co-founder of PedalStart, acknowledged the critical role technology plays in addressing mental health challenges in a country like India. He praised BetterSpace’s commitment to utilizing technology to deliver quality mental health services in a regional, accessible, and affordable manner. PedalStart looks forward to continuing its support for BetterSpace to enable positive social impact at scale.

BetterSpace distinguishes itself through its psychologist-led counseling, workshops, and community engagement programs. A key aspect of its value proposition is the delivery of content, therapy, and interventions in multiple vernacular languages, allowing it to connect with local audiences effectively.

Since its inception, BetterSpace has facilitated over 5,000 offline sessions across various settings, positively impacting the lives of more than 2 lakh people nationwide, encompassing both children and adults. The startup has already developed a mobile app and other self-paced products and toolkits to contribute to mental health improvement and personal growth.

Looking ahead, BetterSpace is set to launch innovative tech-enabled mental wellness solutions, including Imagi box—a therapy box for children with learning and cognitive difficulties, Therapy Pods dedicated rooms in hospitals to address privacy concerns during therapy, and a mental wellness game for families. The company has ambitious plans to rapidly expand its operational footprint to at least 10+ Indian states and internationally within the next year.

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