India’s healthcare space has seen a rapid evolution in recent years while becoming widely accessible to the masses on-the-go. Valued at $12 billion, the healthtech sector is also quite diverse: ranging from wellness, healthcare, e-pharmacy to fitness assistance.
There’s also a lot of focus on mental health. We have featured early-stage startups like SoulUp and Mind Alcove that are focusing on this space. Delhi-based startup Lissun is also trying to make mental health care widely accessible to people. Founded in 2021 by Krishna Veer Singh, the startup aims to provide primarily two key things – an end-to-end solution for mental health and integrating mental health into mainstream healthcare.
Lissun does this by essentially onboarding businesses such as healthcare partners & institutions, coaching centres, educational institutions, corporates etc., on its platform and then offer products and services to their users via their distribution channels. It works with medical establishments for high-stress use cases such as infertility, oncology, nephrology, etc to provide assistance.
The company has reached over 15,000 paying customers, has done 30,000 therapies, and has more than 50,000 visitors to its digital platforms, and has served customers across 30 cities in India.
To date, Lissun has raised $1 million in funding from investors, including Marquis Angels and IvyCap Ventures. Singh said the company is in the process of closing a seed round. He further said the company would be raising series A funding up to $5 million in a few months as well. Singh did not divulge more details about the upcoming fundraise plans.
Singh acknowledged that there is competition in this market as well. For instance, Wysa, Amaha Health and YourDost are some of the companies that have gained traction of late. However, Lissun is betting on the B2B2C approach to ensure it stands out in the space.
Lissun is also working to diversify its products and offerings. The founder said the company would be leveraging “automation models as a next-step to create user-specific journeys for key customer archetypes, such as children with autism spectrum disorders, students in competitive exam preparations, and more.”
“We have a very rich source of information based on our journey till date, and we now plan to start modelling data based on this experience and put in place AI/ML technologies to keep evolving the quality and user experience on our platform,” he added.
That said, mental health is widely a sunrise industry due to a growing focus on well-being and mental health among youth and working professionals. It’s also a big market opportunity – estimated to be worth $383.31 billion in 2020, and is poised to be worth $537.97 billion by 2030. The likes of Lissun and Mindhouse, YourDOST, and WySa are set to gain from this trend.
