Get All Access for $5/mo

Evolve Raises INR 3 Crore In Pre-Seed Funding Round The fund raised will used to expand the core team at Evolve and invest in building a world-class product that continues to provide individual and collective safe spaces for users around the world

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Evolve, an LGBTQ+ community-focused mental healthtech startup, has raised INR 3 crore in a pre-Seed funding round led by Rajesh Ranavat (executive director, Fung Strategic Holdings). The round also saw participation from angel investors like Ankit Mehrotra and Nikhil Bakshi (founders, Dineout) along with the global executives from Meta and McKinsey. The fund raised will used to expand the core team at Evolve and invest in building a world-class product that continues to provide individual and collective safe spaces for users around the world.

"Members of the LGBTQIA+ community are 3 to 4 times as likely to experience serious mental illness. We are proud to be one of the first companies globally solving for the needs of the community and our user growth and love are testaments to the quality of our offerings so far. Our plans are to use the funds we have now secured to expand the core team at Evolve and invest in building a world-class product that continues to provide individual and collective safe spaces for users around the world," said Anshul Kamath, founder, Evolve.

Founded in 2020 by Anshul Kamath and Rohan Arora, Evolve and its proprietary interface provide users with a virtual safe space along with personalized, evidence-based interventions to improve their mental health. The startup claimed to have over 2,50,000 users globally.

"In a short period of time, Evolve has built a very compelling mental health app which operates totally on an interactive AI platform enabling it to scale up at a global level. The early success in terms of adoption by more than 200,000 users globally and recognition by Google Play as one of the top personal growth apps puts it in good stead for its next stage of growth," said Rajesh Ranavat, lead investor.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.

Business News

Alexis Ohanian Says This Is His Best Investment So Far: $10,000 Turned Into More Than $17 Million

Ohanian has backed 40 unicorns, but one investment stands out the most.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

Leadership

How to Master the Art of Delegation — Lessons From Andrew Carnegie's Legacy

Here's what Andrew Carnegie can teach today's entrepreneurs about leadership, teamwork and effective delegation.

News and Trends

Harnessing the Power of Machine Learning: Amazon India Smbhav Summit

The insights shared by Rastogi and Somareddy reflect Amazon's unwavering commitment to leveraging AI and ML to revolutionize e-commerce. By focusing on customer convenience, empowering small sellers, and addressing broader challenges like food wastage, Amazon demonstrates how technology can be a force for good.