Mental health platform Evolve raises Rs 3 crore in pre-seed round
- ByStartupStory | September 7, 2022
Evolve, an LGBTQ+ community-focused mental health tech firm, announced a pre-seed financing of Rs 3 crore headed by Rajesh Ranavat, executive director of Fung Strategic Holdings. Angel investors included Dineout founders Ankit Mehrotra and Nikhil Bakshi, as well as worldwide executives from Meta and McKinsey, according to the startup.
According to entrepreneur Anshul Kamath, the funds will be used to expand the core staff and build the product. “LGBTQIA+ people are three to four times more likely to suffer from major mental illness.”
“We are delighted to be one of the first firms in the world to address community needs, and our user growth and affection are testaments to the quality of our products thus far,” he continued.
Evolve, launched in 2020 by Anshul Kamath and Rohan Arora, has over 250,000 users worldwide. The software and its proprietary UI provide users a virtual safe place as well as personalized, evidence-based therapies to help them improve their mental health.
Google Play named the app the Best App for Personal Growth in 2021. “Our goals are to use the funding we have now received to expand the core team at Evolve and invest in building a world-class product that continues to create individual and collective safe spaces for users worldwide,” Kamath explained.
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