🧠 Investments On The Mind
The latest on the business of mental health and wellness
Welcome to On The Mind, a collection of stories, news, and analyses on the startups, investors, and thought leaders in mental health and wellness.
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Keeping issue No. 16 limited to recent investments in the mental health space. Check out the full list of what I’ve tracked since the last issue came out below.
💰 Recent Investments, Acquisitions, and IPOs
Rundown of recent investment news in mental health and wellness companies.
Akili Interactive, maker of a video game digital therapeutic that treats ADHD, announced plans to go public through a merger with a SPAC at a valuation of $1B (Link)
Altoida, an Alzheimer’s diagnostic app, added $14M to its Series A led by Whitecap Venture Partners and M Ventures (Link)
Apollo Neuro, the maker of a wearable that actively helps manage stress to enable better sleep, relaxation, and focus, has raised $15M in its Series A (Link)
Atommerce, a Korean startup helping users connect with mental health professionals, raised a $16.7M Series B led by Hashed (Link)
Big Health, a maker of digital therapeutics for anxiety and insomnia, raised a $75M Series C led by SoftBank Vision Fund 2 (Link)
BRAINLUXURY, a maker of nutritional brain supplements, raised $8.1M in Seed funding led by True Ventures (Link)
Brain.space, maker of an EEG helmet used to study the effects of space flight on brain activity, raised an $8.5M Seed led by Mangrove Capital Partners (Link)
Brightline, a provider of virtual behavioral health services to children and families, raised $105M in a round led by KKR, valuing the company at $705M (Link)
Brightside Health, a telemedicine platform offering mental health services, raised a $50M Series B led by ACME Capital and Mousse Partners (Link)
Bodymatter, a health tech company developing solutions to improve sleep, raised a $3M Seed round (Link)
Calm, the meditation and sleep app, announced its acquisition of Ripple Health Group, a health tech company making apps for care coordination (Link)
Dawn Health, an insomnia treatment startup, raised $1.8M in a Pre-Seed round led by Kindred Ventures (Link)
Daybreak Health, a school-facing behavioral health startup, raised $10M in a Series A round led by Lightspeed Venture Partners (Link)
Earable, a sleep tracking startup, raised a $6.6M round led by Founders Fund (Link)
Eleusis, a developer of a psilocybin-based drug candidate formulated for IV infusion, is going public with a SPAC expected to generate proceeds of up to $288M (Link)
Equip, a telehealth startup focused on eating disorders, raised $58M led by The Chernin Group (Link)
Fisher Wallace, a developer of a prescription wearable for neuropsychiatric disorders, raised $2.5M in a round led by SHUFL Capital (Link)
Fluence, an educational platform for psychedelic therapy training, raised $3M in Seed funding (Link)
Glorify, a faith app supporting mental health with a religious lens, raised $40M in a Series B round led by SoftBank Latin America Fund (Link)
Headspace Health, the digital mental health company, has acquired Sayana, a maker of AI-enabled mental health-tracking and sleep apps (Link)
Headversity, a provider of preventative mental health training technology for employers, announced its $10M Series A led by Level Equity (Link)
HealthRhythms, a digital mental health startup, announced an $11M Seed round led by GSR Ventures (Link)
heyy, an Indian mental health startup, raised $555K in a Pre-Seed round led by Wavemaker Partners (Link)
Inflow, a medtech startup serving ADHD patients, secured seed funding of $2.3M with participation from Hoxton Ventures and Route 66 Ventures (Link)
Inner Cosmos, a neurotechnology company focused on alleviating cognitive disorders with a “digital pill,” closed a $10M Seed round led by lool ventures (Link)
Intellect, a mental health startup focusing on the APAC region, raised a $10M Series A led by HOF Capital (Link)
Jolly Good, a VR developer, and Otsuka, the pharmaceutical company have signed a product development and sales deal worth $43.7M to expand the use of social skill training to treat mental disorders (Link)
Kallyope, a biotech focused on the gut-brain connection, raised a $236M Series D led by Mubadala and The Column Group (Link)
Kintsugi, a mental health platform using voice biomarkers, raised a $20M Series A led by Insight Partners (Link)
Legion Health, a B2B mental health marketplace, raised a $2M Seed round (Link)
LifeSpeak, an employer-focused digital mental health company, announced plans to purchase wellness platform Wellbeats for $92.5M (Link)
Little Otter, a virtual pediatric behavioral health company, raised a $22M Series A led by CRV (Link)
Lovewick, a couples therapy app, raised $1M in Seed funding led by Corazon Capital (Link)
Lyra Health, the digital mental health unicorn serving employers, announced a $235M Series F led by Dragoneer (Link)
Mantra Health, a digital mental health clinic focused on young adults, raised a $22M Series A led by VMG Partners (Link)
Marigold Health, a digital health startup focused on treating substance abuse, raised $6M in Seed funding led by KdT Ventures and Felicis Ventures (Link)
Minded, a psychiatry-focused telehealth company, raised a $25M Seed round (Link)
MindFi, a mental wellness startup operating through APAC, raised a $2M Seed (Link)
MindMaze, a neuro-rehabilitation video game platform, raised $105M in its latest financing led by Concord Health Partners, less than 6 months after raising $125M (Link)
Mindstate Design Labs, a developer of psychedelic-inspired therapeutics, raised an $11.5M Seed round led by Initialized Capital (Link)
Mine’d, an emotional wellness app, raised a $3.5M Seed round led by Listen Ventures (Link)
Neuron23, a neurodegenerative-disease-focused biotech, raised a $100M Series C led by SoftBank Vision Fund 2 (Link)
Nivati, an employee mental health platform, raised $4M in Seed funding led by FireBrand Ventures (Link)
not less but better, a digital health coach that helps curb smartphone addiction, raised nearly $1M in its Pre-Seed round (Link)
Oliva, a London-based workplace mental health platform, raised a $6.3M Seed funding led by Stride VC (Link)
Open, a mindfulness studio, closed a $9M Series A led by Founders Fund and A. Capital Ventures (Link)
Phantom Neuro, a startup helping people control robotic limbs, raised $3.3M in Seed funding led by LionBird Ventures (Link)
Quan, a company tackling post-pandemic employee burnout, has raised $1.2M in Pre-Seed funding from Y Combinator (Link)
Reveri Health, a self-hypnosis app, closed a $1.8M Seed round led by InReach Ventures (Link)
Sanctus, a coaching platform for employees in the workplace, closed $5.8M in a round led by Scale Up Capital (Link)
SoundMind, an audio-visual mental health app, raised an $800K Pre-Seed (Link)
Spoke, a music therapy app, raised $1.5M in its Pre-Seed round led by Ada Ventures (Link)
Synapticure, a teleneurology company providing care for people living with ALS, launched with $6M in Seed funding led by GV (Link)
Talkiatry, a tech-enabled psychiatric care startup, announced its $37M Series A with additional funds contributed by Left Lane Capital (Link)
Tripp, an XR wellness platform, acquired EvolVR, the world’s largest VR live meditation community (Link)
Woebot Health, an AI-powered mental health chatbot, raised $9.5M from Leaps by Bayer (Link)
On Your Mind
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Written by Daniel Tarockoff, a partner at Vine Ventures exploring the future of mental health. Born in Michigan. Based in Berkeley, CA.