Mental healthtech startup Mave Health raises Rs 6Cr in a pre-Seed round

Mave Health, a Bengaluru-based mental healthtech startup, has raised Rs 6 crore in a pre-seed funding round led by All-In Capital and Utsav Somani’s iSeed Fund.

The round also saw participation from marquee investors, including Bharat Founders Fund, Deepinder Goyal of Zomato, Kunal Shah of CRED, Mohit Kumar and Vatsal Singhal of Ultrahuman. 

Angel investors, including Gaurav Agarwal of TATA 1mg, Nandan Reddy of Swiggy, and Rohan Verma of BreatheWellBeing, among others, also participated. 

Revolutionizing mental health with Arc

Founded by Aman Kumar, Dhawal Jain and Jai Sharma, Mave Health has developed Arc, India’s first noninvasive brain stimulation wearable for treating depression. Arc was developed in collaboration with leading experts and institutions like Harvard Medical School and Maastricht University. 

It promises a novel approach to improving brain health and managing depression symptoms without the drawbacks of traditional psychiatric drugs.

Backed by over two decades of research

The startup said that Arc’s development is backed by over two decades of research into brain stimulation and its effects on cognitive function and depression. During its beta phase, Arc was tested by over 1,000 individuals, with users reporting substantial improvements in their depression symptoms. 

Offering 12-week program

Mave Health offers a 12-week program where users get unlimited sessions with a range of experts, including doctors, psychologists, nutritionists, and fitness coaches. The startup believes that this comprehensive care model ensures that the mental well-being of users is supported from multiple angles, integrating seamlessly into their lifestyles.

"One in every seven Indians suffers from mental health problems, often undiagnosed. Add problems like stress plus 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 is building a fully non-invasive, self-managed wearable to tackle this problem head-on," said Kushal Bhagia of All-In Capital.

Making Arc more accessible through partnerships

Mave Health plans to make Arc more accessible through partnerships with psychologists, hospitals, and clinics across India. The startup aims to redefine the standards of care in mental health.

“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," said Dhawal Jain, Founder and CEO of Mave Health.

Dhawal said that the startup aims to develop solutions that integrate seamlessly into individuals' lifestyles without causing any inconvenience.

"We're excited to have supportive investors join us on our journey to establish the highest standards of mental healthcare in India by offering new ways of treating depression with technology that wasn't previously available to the general public," he added.