binarypublishTLDR:
Amaha, a mental health startup based in Mumbai, has secured ₹50 crore in Series A funding, led by Fireside Ventures. The company plans to use the funding to enhance and expand its mental health services.
Amaha offers a variety of treatments and care plans for mental health conditions such as anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions. It operates in over 600 cities in India, providing both in-person centers and digital services through an app.
Fireside Ventures, which primarily invests in consumer-focused startups, has a portfolio that includes companies in the food and beverage, personal care, kids & education, lifestyle, and home products sectors. The firm has previously invested in other wellness startups.
The visibility of mental health and wellness startups has increased in recent years, in part due to heightened awareness and advocacy by celebrities, organizations, and social media platforms.
Despite widening losses in 2023, Amaha has been actively investing in infrastructure, including physical clinics and technological enhancements, with the expectation of becoming profitable in the next 15-18 months.
Previously, Amaha raised $5.2 million in funding from venture capital firm Lightbox Ventures in 2021.
Overall, the funding secured by Amaha reflects the growing demand for mental health services and the increasing recognition of the importance of mental wellness. The investment from Fireside Ventures, along with the participation of other angel investors, will support Amaha in expanding its reach and improving its offerings in the mental health space.
