Mental Healthtech Startup BetterSpace Raises INR 4.5 Mn in Pre-Seed Funding

Reportedly, the startup will utilise the newly-acquired capital towards improving its existing offline and online services, while also developing a new product range consisting of games and toolkits.

Chhattisgarh-based mental healthtech startup BetterSpace has raised INR 4.5 million in its maiden Pre-Seed funding round led by startup community-builder PedalStart.

Reportedly, the startup will utilise the newly-acquired capital towards improving its existing offline and online services, while also developing a new product range consisting of games and toolkits.

It will further enhance marketing and brand visibility, along with optimising technology and the app for boosting accessibility across multiple types of devices and attracting and acquiring talent, among other strategic areas.

In a joint statement, Shivli Shrivastava and Abhilash Shrivastava, cofounder and director, BetterSpace said, “The funds raised through this round shall not just meet our short-term working capital needs, but also ensure our stable, sustainable growth, by enabling BetterSpace to move forward in a cash-positive yet socially impactful manner over the long term. We are immensely grateful to the investors who have placed their faith in us.”

Founded in 2020, BetterSpace is a healthtech startup that offers psychologist-led counselling, workshops, community engagement programs, and other initiatives aimed at solving numerous existing mental health challenges in society.

Since its inception, the startup claims to have facilitated more than 5000 offline sessions across schools, hospitals, community centres, and corporate offices impacting the lives of more than two lakh people (including both children and adults) across India.

Additionally, BetterSpace has already developed its mobile app, and other self-paced products and toolkits for enabling the betterment of mental health and fueling personal growth.

Expressing his thoughts, Manas Pal, cofounder, PedalStart said, “BetterSpace is committed to doing just while ensuring quality mental health services delivery in a regional, accessible, and affordable manner to various stakeholders across the society. We at PedalStart could resonate with their vision of creating and nurturing safe-inclusive spaces through a mix of online and offline initiatives focused on mental health, sexuality and disability awareness. We look forward to extending our continued support to BetterSpace to enable them to create positive social impact at scale.”

In another such development, mental health platform LISSUN raised $1,3 million in a Seed Funding round led by Inflection Point Ventures (IPV) and Rainmatter Capital from the Zerodha Group.

The acquired funds have been allocated towards enhancing LISSUN's technology and product offerings, expanding its mental health services, and establishing partnerships with healthcare institutions and other organisations.