Fireside Ventures leads funding round of INR 50 crore in India's leading mental health organisation, Amaha
MUMBAI, India, Jan. 12, 2024 /PRNewswire/ — Amaha, India’s leading mental health organization (formerly known as InnerHour), announced securing a substantial investment of over INR 50 crore as an extended series A round. This round of funding was led by Fireside Ventures investing INR 36.4 crore as well as additional investment of INR 15+ crore by other strategic investors. Over time, Amaha has successfully raised one of the largest investments in mental health in India.
The Amaha mental health ecosystem provides treatment and care for a range of mental health conditions like anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions. The organisation was founded by psychiatrist and healthcare entrepreneur Dr Amit Malik and joined by social entrepreneur Neha Kirpal as Co-Founder, to address the mental health treatment gap prevalent in India with a commitment to making quality mental health care and support accessible to a wider population across geographies.
Dr. Amit Malik, Founder and CEO of Amaha, expressing his eagerness about the recent funding, stated, “The INR 50+ Crore infusion helps consolidate Amaha’s position as the leading mental healthcare provider in India and accelerates the company’s strategic expansion plans, as it continues to address the dynamic mental health challenges faced by individuals, families and organisations across the country. The partnership with Fireside Ventures creates exciting possibilities for cross-sectoral collaborations, propelling Amaha’s efforts to mainstream mental health access to all those in need.”
Ankur Khaitan, Principal, Fireside Ventures said, “At Fireside, our outlook is to look for companies building for well-being and in that context, the space of addressing mental health issues is a large unmet need in India. Amaha with their deep clinical expertise and unique business model across digital and offline clinics will be able to solve for awareness and access to a wider audience.”
Over the years, Amaha’s multi-disciplinary team of 150+ mental health therapists and psychiatrists has effectively provided mental health services in 15+ languages through 10,000+ personal and group interventions per month and across 600+ cities in India. Amaha’s mobile app, which has won several accolades, including an award for the “Best App for Good” by Google Play, offers 600+ self-care tools and 1000+ content resources to help individuals understand their concerns and build healthy habits. Amaha has today positively impacted over 5 Million lives globally through its mobile app. With a few to provide continuous collaborative care to people across their lifespan, Amaha acquired & partnered with India’s foremost Child and Adolescent mental health organisation Children First two years ago. With a team of over 60 dedicated specialists, Children First has served over 12,000 children, youth and families for a range of conditions including Autism, ADHD, developmental challenges, self-harm, childhood trauma and others.
About Amaha:
Amaha (formerly named InnerHour), is a mental health organisation- founded by Dr. Amit Malik, a renowned psychiatrist and healthcare entrepreneur, and joined by social entrepreneur Ms. Neha Kirpal as co-founder in 2019.
The organisation has built a mental health ecosystem that provides treatment & care plans for a range of mental health conditions like anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions. Amaha has an in-house expert team of 150+ psychiatrists and therapists and provides therapy sessions, psychiatric care, digital self-care tools, psychometric assessments, as well as community peer support. Over the last few years, they have delivered over 1,00,000+ therapy and psychiatry sessions in 15+ languages across 600+ Indian cities and the self-help app has touched 5 million lives.
Furthermore, Amaha offers customised Emotional Well-being programmes for workplaces & colleges that today support over 700,000 individuals across the country.
In 2022, with a vision to provide care from cradle to grave and to support quality mental healthcare for families, institutions and communities, Amaha acquired & partnered with the reputed Delhi NCR-based Child and Adolescent Mental Health Institute, Children First, which has been providing support to more than 12,000+ families since its inception in 2008.
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Harsh Sheth – 9870631557; harsh.sheth@mslgroup.com
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