Mental health platform Wysa snags Series A cheque from Boston investor

Google-backed mental health platform Wysa said on Thursday it closed a $5.5 million (Rs 40.2 crore) Series A funding round led by Boston-based digital health investor W Health Ventures.  

Others that participated in the round include Google Assistant Investment Program and existing investors pi Ventures and Kae Capital.  

Wysa, which is operated by Touchkin eServices Pvt Ltd, said with the latest capital raise it has raised close to $9 million in funding so far. 

“As we enter the second year of the pandemic, so many people are struggling and seeking mental health support. Wysa is an example of how technology is helping millions of people access everyday mental health support and self-care tools without being gated by a clinical diagnosis,” Pankaj Jethwani, executive vice-president at W Health Ventures, said. 

W Health Ventures is a venture capital firm that designs, builds, and grows digital health companies. It focuses on highly scalable and impactful businesses that leverage artificial intelligence and technology. 

Moez Kaderali, who is a programme manager at Google Assistant Investments Program, said the company’s artificial intelligence helps everyone build skills to manage their mental health in the new normal.

Touchkin was founded in 2015 by Aggarwal and Ramakant Vempati. It had earlier developed an eponymous predictive health startup. In June last year, it raised Rs 15 crore in a pre-Series A funding round led by pi Ventures.

According to Wysa’s website, its chatbot is emotionally intelligent and combines evidence-based therapeutic techniques along with empathetic listening to make mental health accessible to a large number of people.