Shark Tank Fame InnerGize Secures INR 4.5 Cr Funding to Revolutionize Mental Health Tech
- ByStartupStory | April 2, 2025
Direct-to-consumer (D2C) mental healthtech startup InnerGize has successfully raised INR 4.5 Cr in its pre-seed funding round, led by global early-stage venture capital firm Antler. The funding round also witnessed participation from prominent angel investors including Arjun Vaidya (V3 Ventures), Sharan Hegde (Finance with Sharan), OYO’s Ritesh Agarwal, boAt’s Aman Gupta, Azhar Iqubal, and several others.
With this latest investment, InnerGize has now raised a total of INR 6.5 Cr in its pre-seed round. According to Dr. Siddhant Bhargava, co-founder of InnerGize, the pre-seed round was structured in two phases, with the initial INR 2 Cr coming from government-backed initiatives such as Startup India Seed Fund Scheme (SISFS), MeitY Startup Scheme, NGIS (Next Generation Incubation Scheme), and Biotechnology Industry Research Assistance Council (BIRAC).
Last month, Dr. Bhargava revealed to Inc42 that boAt’s Aman Gupta, who initially intended to invest INR 1 Cr for a 4.2% equity stake, revised his investment to INR 30 Lakh for a 1.4% stake to accommodate other investors.
The Delhi-based startup plans to leverage the freshly secured funds for manufacturing, clinical trials, research and development (R&D), and its first product launch in April 2025.
Founded by Dr. Siddhant Bhargava, Shalmali Kadu, and Mitansh Khurana, InnerGize aims to address growing mental health concerns through innovative technology. The startup’s flagship product, InnerGize Gen 1, is a wearable device designed to tackle stress and anxiety by sending calming signals to the brain’s relaxation centers.
The device utilizes Neuroacoustic Vagal Modulation technology, which gently stimulates the vagus nerve, known as the body’s natural relaxation switch. InnerGize claims that this technology aids in reducing stress, anxiety, and other mental health challenges.
The device offers 10-minute tailored sessions aimed at enhancing sleep quality, relaxation, mood stabilization, focus, pain relief, ADHD support, and more. With its discreet, portable design, InnerGize Gen 1 enables users to seamlessly integrate mental well-being practices into their daily routines.
Despite being officially registered in July 2023, InnerGize is set to launch its first-generation product next month. The startup claims that its pitch on Shark Tank India has already garnered 1,300 pre-orders ahead of the product’s official release.
Priced at INR 12,400, the device is currently available for pre-order between INR 5,000 – 6,000.
Looking ahead, InnerGize has ambitious plans, aiming to reach an Annual Recurring Revenue (ARR) of $10 Mn within 18 months. The startup is also preparing to expand beyond India into Gulf countries and Southeast Asia by the end of the year. Additionally, FDA approval applications are slated for submission in Q2 2024.
InnerGize’s funding success comes at a time when India’s mental health sector is witnessing a surge in investments. The market is currently valued at $20.2 Bn (2024) and is projected to reach $27.4 Bn by 2033, according to an IMARC report.
Several mental healthtech startups, including Mave Health, Wysa, Shyft (formerly Mindhouse), Sukoon, Trijog, YourDOST, Mitsu, and LISSUN, have secured funding in recent years. LISSUN, which focuses on contemporary mental health issues, raised $2.5 Mn (INR 20.7 Cr) in its pre-Series A funding round led by RPSG Capital Ventures last year.
Additionally, Eternal co-founder and group CEO Deepinder Goyal recently announced plans to incubate a health tracking and mental wellness venture, reinforcing the increasing investor confidence in the sector. Goyal has also been an active investor in healthtech startups like Ultrahuman and Pristyn Care.
As InnerGize moves toward its official product launch and expands its global footprint, it continues to push the boundaries of mental healthtech innovation. With strong investor backing, cutting-edge technology, and a rapidly growing market, InnerGize is well-positioned to make a significant impact in the mental health and wellness industry.
About InnerGize:
InnerGize is a D2C mental healthtech startup founded in 2023, dedicated to improving mental well-being through technology-driven solutions. Its flagship product, InnerGize Gen 1, is a wearable device that leverages Neuroacoustic Vagal Modulation to promote relaxation, stress relief, and overall mental health. The startup is backed by leading investors and government bodies and is set to launch its first product in April 2025.
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