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

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Culture

I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.