Blacktail Mindhouse Pvt. Ltd, which operates health-technology company Mindhouse, has raised Rs 5.2 crore (approximately $678,652 at current exchange rates) in a funding round led by Binny Bansal’s BTB Ventures.
According to regulatory filings with the Ministry of Corporate Affairs, the Gurugram-based company has issued 520,000 compulsorily convertible debentures at a face value of Rs 100 to investors in this round.
Other investors that participated in the round include GGV Capital and the Aartieca Family Trust. Angel investors such as Sahil Barua, Srivatsan Rajan, Ambarish Raghuvanshi, Karan Singh and Anand Chandrashekhar also took part in the round, per the filings.
This development was first reported by Entrackr. It also mentions that the company’s operations have been impacted because of the spread of the COVID-19 pandemic.
Mindhouse was incorporated in 2019 and was set up by Pankaj Chaddah, the co-founder of food-technology firm Zomato, who resigned from the company in 2018.
Chaddah earlier this month also infused Rs 9.99 crore (around $1.3 million) in Blacktail Mindhouse by subscribing to 1,428 equity shares of the company at a face value of Rs 10, with a premium of Rs 69,990 per unit.
Mindhouse says it offers users several guided meditation techniques through both its studios and applications. The company says its programmes have been tailored for people with a busy lifestyle, with relevant sessions for both beginner and advanced practitioners, according to its website.
Chaddah continues to retain a position on Zomato’s board. However, it is not currently clear if he continues to maintain a stake in the company. He is also an investor in companies such as tea e-tailer Vahdam Teas Pvt. Ltd.