Written by : Aishwarya Sarthe
September 14, 2023
Gaurav Burman, the director of Dabur International, has acquired a 7.5% stake in Mumbai-based mental healthtech startup Mitsu, for an undisclosed amount.
As part of this investment, Burman has also assumed a position on the startup's board.
Mitsu, founded in 2023 by Amit Singh, offers a guided self-therapy app tailored to individuals dealing with anxiety and depression. The platform features an eight-week intensive program to equip users with skills for long-term emotional well-being.
In addition to Gaurav Burman's investment, Mitsu has also received investment from angel investors including Shivashish Chatterjee and Yuvaraja C Singh-cofounders of DMI Finance, and Harpreet Singh Grover, former cofounder of CoCubes and present founder of Curious Parent.
One of Mitsu's notable claims is that users dedicate 25-30 minutes per week to the app, with the average user logging in two to three times a week. Mitsu's unique approach to mental health support stands out from traditional in-person therapy. Users benefit from ongoing assistance through in-app chat with the platform's in-house therapists, ensuring swift and timely help without appointment scheduling delays.
Importantly, Mitsu's program is available at just one-third the cost of in-person therapy, greatly enhancing affordability and accessibility, particularly for students.
The platform's approach is rooted in evidence-based methods such as Cognitive Behavioral Therapy (CBT), mindfulness, and Acceptance and Commitment Therapy (ACT).
This development in the mental health sector aligns with a growing trend in the industry. Earlier this month, LISSUN, another mental health solutions startup, secured $1.3 million in funding to expand its large-scale mental health offerings.
Moreover, a recent study conducted by UnivDatos Market Insights indicates that the Indian mental healthcare industry is on track to grow at a CAGR of 15% from 2022 to 2028.
Gaurav Burman's investment in Mitsu reflects a broader trend of investments in innovative and people-centric solutions that are shaping the future of healthcare. This growth can be attributed to increased awareness and the country's diminishing societal veto surrounding mental health.