The newly raised investment will support Mave Health in launching Arc, a non-invasive brain stimulation wearable that treats depression.
Mave Health, a mental health-tech start-up, has raised Rs 6 crore in a pre-seed funding round. The funding round was led by All-In Capital and Utsav Somani’s iSeed Fund, with participation from other marquee investors including Bharat Founders Fund, Deepinder Goyal (Zomato), Kunal Shah (CRED), Mohit Kumar, and Vatsal Singhal (Ultrahuman).
The round also saw angel investors like Gaurav Agarwal (TATA 1mg), Nandan Reddy (Swiggy), Rohan Verma (BreatheWellBeing), Nikhil Kant (Even), Harsh Shah (Fynd), Neel Mehta (Studio Carbon), Nitin Mehrotra (Dressfolk), Himanshu Aggarwal (SHL), along with Vikrampati Singhania from JK Family Office, Gaurang Patel and Pradeep Patel from Amaanta Family Office, and Rajan Dube. The newly raised investment will support Mave Health in launching Arc, a non-invasive brain stimulation wearable that treats depression.
Dhawal Jain, founder and CEO of Mave Health, said, “Mental healthcare in India has been neglected and underfunded for decades. By acknowledging the interconnection between mental and physical health and recognising the brain as the cornerstone of well-being, we're committed to exploring potential breakthroughs through brain-based therapies. Our aim is to develop solutions that integrate seamlessly into individuals' lifestyles without causing any inconvenience.”
Commenting on the investment, Kushal Bhagia of All-In Capital stated, "One in every seven Indians suffers from mental health problems, often undiagnosed. Add problems like stress and poor lifestyle habits, and the number balloons even higher. Most patients fear psychiatric drugs and treatments due to their known side effects and the associated social stigma. Mave Health marks India's bold entry into building innovative technology for the world, and we at All In Capital are proud to partner with them in their very first round."
Mave Health aims to build human-centric, evidence-based programs for mental well-being. The start-up’s flagship product, Arc, is designed to improve brain health and treat depression. As per the start-up, the device was developed in collaboration with a team of top experts, including neuroscientists, psychiatrists, and psychologists from Harvard Medical School, Maastricht University, and other leading research institutes.
Currently, Mave Health’s flagship wearable, Arc, can be accessed by enrolling in Mave Health’s 12-week program, which also offers unlimited sessions with their experts, including doctors, psychologists, nutritionists, and fitness coaches, according to a company statement.