- Mental wellness company MindFi recently announced it raised $2 million in seed funding. These are the details.
Singapore-based mental wellness company MindFi recently announced it raised $2 million in seed funding with participation from returning investors M Venture Partners and Global Founders Capital, according to TechCrunch. And angel investors included Carousell co-founder Marcus Tan, Carro executive Kenji Narushima and Spin co-founder Derrick Ko.
MindFi participated in Y Combinator’s summer 2021 cohort. And it currently operates across the Asia-Pacific region, including Sinagpore, Hong Kong and Australia, and offers its services in 16 languages. Some of the company’s clients include Visa, Willis Towers Watson and Patsnap. And MindFi’s products serve 100,000 employees across 35 employers in 15 markets.
The MindFi app features mental wellness programs, community forums, and group therapy. Plus it uses a matching system to connect coaches and therapists.
The seed round of fundin will be used for accelerating the development of its AI engine, advancing the integration of physiological data from wearables to MindFi’s mental health data. And the company is going to work with local experts to create in-app programs in its key APAC markets.
KEY QUOTES:
“Mental health has been traditionally overlooked in most countries, more so in fast-growth Asia. We feel the market is currently poorly served, and as founder-first investors, we are thrilled to work with the MindFi team, who together bring complementary skills and insight to solve a significant problem.”
– M Ventures partner Mayank Parekh
