Indian psychological well being app heyy luggage pre-seed funding

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Psychological well being startup heyy has raised $555,000 in a pre-seed funding spherical led by Wavemaker Companions, an early-stage institutional investor from Southeast Asia.

The investing spherical was additionally joined by angel buyers, similar to Sairee Chahal of Sheroes and Anjan Bhojarajan of HealthifyMe. 

WHAT IT DOES

Launched final yr, the startup operates an app that gives preventive psychological well being take care of particular person shoppers and company workers. It runs a community of psychologists – known as Helpers – who can be found round the clock to talk with customers. 

Obtainable on each Android and iOS units, the heyy app additionally offers entry to on-line remedy with therapists in a number of languages, similar to English, Hindi, and Bengali. Furthermore, it affords Lifebuoy that consists of quick classes of recordings and workout routines to assist customers deal with private or skilled challenges.

WHY IT MATTERS

About one in seven folks in India are coping with psychological well being points, which may value the Indian economic system an estimated $1 trillion by 2030, in keeping with the World Well being Group. 

Whereas digital therapeutics are more and more out there to fill within the hole in care entry, these “come on the expense of a human connection,” mentioned heyy founder Ankit Malhotra. It is because of this that the startup has constructed a community of “Helpers” who present an “nameless, confidential, and protected area” the place folks can open up and discuss their private points. It has been heyy’s imaginative and prescient, mentioned Malhotra, to maintain psychological well being care “deeply human and private” whereas making it accessible for many individuals. 

MARKET SNAPSHOT

Within the midst of a pandemic that has introduced with it many challenges that folks have had to deal with, well being tech corporations InnerHour and Roche Diagnostics India stepped as much as the plate to widen the entry to psychological well being take care of burned-out well being professionals. The psychological well being startup teamed up with shopper items firm Godrej to offer free digital psychological well being companies to docs, nurses, and different well being workers. Roche, however, developed the REACH wellness app that helps the psychological well being of healthcare staff. 

In different information, Indian cybersecurity guide Panacea Infosec, along with human useful resource R&D agency Panacea Bioedge, partnered with US-based psychological well being agency Healmed Options to introduce an AI-powered platform in India. One of many options of the Panacea Healmed platform is a psychological well being evaluation software for employers which helps the self-management of workers’ psychological wellbeing. 

ON THE RECORD

“About 14% of India’s inhabitants suffers from psychological illnesses and 80% of these affected don’t obtain remedy for over a yr – an issue heyy appears to unravel. heyy stood out as a preventive care answer that retains the empathetic, human facet but stays accessible and scalable, translating to the corporate’s record-high adoption and repeat charges,” mentioned Gavin Lee, basic associate at Wavemaker Companions.



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