Mave Health Bags Rs 6 Cr In Pre Seed Round Led By All In Capital, iSeed Fund

Mave Health, a mental healthtech startup raised Rs 6 crore in 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. 

Representatives from the creator industry, such as Ganesh Prasad and Parsh Kothari (ThinkSchool), Shlok Srivastava (TechBurner), Neel Gogia and Naim Siddiqui, also participated in the pre-seed round. The newly raised investment will support Mave Health in launching Arc, India’s first non-invasive brain stimulation wearable that treats depression.

Founded in 2023 by Dhawal Jain, Jai Sharma and Aman Kumar, Mave Health aims to build human-centric evidence based programs for mental well-being. The startup’s flagship product Arc is designed to improve brain health and treat depression. 

The device is 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. 

Over the past few months, during the beta phase, more than 1000 individuals have used Arc and have seen substantial improvements in their depression symptoms. The technology behind Arc has been studied for over two decades and shows promising results in cognitive improvement and depression treatment.

Dhawal Jain, Founder and CEO of Mave 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. Our aim is 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."