4th Feb, 2021 – In a historic first, InnerHour has raised $5.2 Million from Lightbox and others, making this the largest fundraise in the Indian mental health ecosystem till date. Lightbox led the funding with an investment of $4.5 million, with other angels including Capricorn Ventures & Micasa Investments (Singapore), Pankaj Sahni, CEO Medanta – The Medicity Hospitals, Hitesh Oberoi, CEO & MD, Info Edge India Pvt. Ltd amongst others.
InnerHour will use this funding to scale their technology-led mental health platform, as it’s set to serve a section of the 200 million Indians currently suffering from mental health conditions. While India today accounts for a 1/3rd of the global burden of depression, addictions and suicides, there is still a 95% treatment gap in the country due to key barriers - lack of access & awareness, affordability, and variable quality of care providers.
For the past 3 years, InnerHour founder Dr Amit Malik has been using tech to break these initial barriers and to create ease of access, standardize quality offerings and solve for early intervention. In this next phase of development, Amit is joined by co-founder Neha Kirpal as they build a full stack offering, focused on the varying needs of individual users across the entire care continuum.
“We believe a tech-led ecosystem that offers seamless continuity of care & support, is very much the need of the hour for the millions suffering & seeking quality mental healthcare today. This round of funding gives us the opportunity to further build our omni-channel products & services, catering to a range of mental health conditions,” said Dr. Amit Malik – Founder & CEO.
Both Amit and Neha are passionate mission-driven entrepreneurs and bring a combination of clinical expertise and global best practice, together with a deep-rooted empathy and understanding of the lived experiences of those suffering from mental health conditions.
Sandeep Murthy, Partner at Lightbox, commented, “InnerHour’s technology platform combined with a holistic, outcome-driven approach ensures that users get the best support as they learn how to manage their conditions. The technology platform helps caregivers get current and accurate information on users’ condition and progress thereby ensuring that their time is spent in truly providing care. This investment is another example of our commitment at Lightbox to invest in businesses that deliver both social and financial returns.”