Mindpeers has raised INR 1.06 crore from shark tank season 2. Aman, Vineeta, Namita, and Piyush invested in this startup. The owner made an ask of 53 lakhs for 1% equity in the company.
At first, Piyush offered 53 lakhs rupees for 1% equity. Then, Vineeta, Namita and Aman gave a counteroffer of 53 lakhs rupees for 1% equity. Later Piyush offered additional 53 lakhs for 1% equity, which means a total of 1.06 crore for 2% equity. Then the deal was done with Aman, Vineeta, Namita, and Peyush for 1.06 crore for 2% equity.
Also Read Mahantam has raised INR 30 lakh from shark tank season 2. All five sharks, Piyush, Veenita, Anupam, Namita and Aman, invested in this startup.
The founders of the company are Kanika and Sahil Chitkara. Kanika was born in Delhi but has lived in Singapore for the last 14yrs. She is an undergraduate from Nanyang Technological University and started her career with Google and Microsoft. Then she started her entrepreneurial life. In 2017, she went through severe anxiety, which made her acknowledge the power of the mind and mental health. In 2020, she started MindPeers. Sahil Chitkara is a seasoned entrepreneur and experienced engineer. His passion is building internet-based products. He has a record of success in various industries, including computer gaming, music, on-demand hyperlocal services, and ed-tech.
In India, we have never understood the science of mental health. It was always considered a stigma. To solve this problem, Mindpeers was started. They have invented in-house neuroscience games and behaviour-changing and habit-forming tools. Using them can reduce your mental pressure and strengthen your mental health. With a patented algorithm, this can help you measure how financial status, relationship status, and social status impact your mind. They have 3.5 lakhs of active users and have expanded worldwide in the UK, US and Singapore.
Mindpeers Business Statistics:
Mindpeers equity split is 70% with Kanika, 25% with Sahil, and 5% with financial advisors. Company has raised 1.12 crore rupees at a valuation of 33.75 crore rupees. Their monthly cost of the application is 350 rupees. They have 3500+ active users and 100+ psychologists and clinical experts. Monthly active users are 30000. In October 2022, the sales were 16.5 lakhs rupees. 10 lakhs rupees sales came from B2C and 6.5 lakhs rupees came from B2B. They have already signed a 22 lakhs rupees contract from the B2B model.
What Problem Do They Solve?
As we know, we have never understood the science of mental health in India. It was always considered a stigma. The study of Psychology, neuroscience, and behavioural science tells us that all emotions are important and reveals why we behave the, we do. Mindpeers came up with the idea to make people understand and measure their mental health. They also envision not stopping until everyone gives their mind the love and care it deserves. People should be proud of taking care of their mental health.
To measure your mental health and to make your mind stronger, Mindpeers have some features such as therapy, cognitive strength test, mental shorts, mind insight, neuroscience games and mind peers club. You can use their app and give your mind the care and strength it deserves.
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