LISSUN Raises $2.5M in Pre-Series A Funding Led by RPSG Capital Ventures  

Mental health start-up LISSUN has raised $2.5 million in a Pre-Series A funding round. The round was led by RPSG Capital Ventures. Further, it also saw new investors such as Multiply ventures and Atrium Angels joining in.  

With the latest funding, the company’s total capital raised so far is $5 million. As per the company, the fresh capital will be used by them expand network of centres, enhance technological infrastructure, and increase service offerings. 

“With this investment, we are further empowered to deliver high-quality, accessible mental health care to those who need it most, driving significant advancements in the field and setting new benchmarks for excellence in mental health care across India,” said Dr. Krishna Veer Singh, co-founder and CEO, of LISSUN, in a statement.  

“This boost will empower us to develop AI-driven solutions. Our unique insights from our physical centers will allow us to create robust, effective products that make a real difference in the lives of families,” said Tarun Gupta, Director and co-founder of LISSUN.  

The company claims to have an extensive network of more than 300+ partnerships across healthcare and education sectors. There has been a surge of mental health start-ups in India with more than 250 of them existing till date. Additionally, the funding for the same was around $53 million as of October last year.  

Just to give an example, Wysa, Evolve, Kaha Mind, MANAH, Trijog and Amaha are some of the mental health start-ups in India. Amaha also raised Rs 50 crore in January this year. The funding was lead by Fireside Ventures. Additionally, mental health start-up Mave Health raised Rs 6 crore in a pre seed round in April this year. The funding saw participation of several investors including Bharat Founders Fund, Deepinder Goyal (Zomato), Kunal Shah (CRED), Mohit Kumar, and Vatsal Singhal (Ultrahuman). 

However, amid the increasing interest, the VC interest in this area is mostly less. As per Tracxn, PE investment did drop significantly to $3 million. As per reports, this was just one fourth of the value that was invested the previous year. “Indian mental healthtech start-ups have raised a total of $3.4 million in funding for 2023, notably lower than the global total of $824 million,” said Neha Singh, co founder, Tracxn to the Times of India.