Blacktail Mindhouse Pvt. Ltd, which operates health-technology company Mindhouse, has raised $6 million in Seed funding led by Flipkart’s co-founder Binny Bansal, the company said in a statement on Friday.
General Catalyst, Better Capital, Kwaish Capital, Anicut, and the founders of Mindhouse--Pooja Khanna and Pankaj Chaddah--also participated in the funding round, the company said. Angel investors Rohit M.A of Cloudnine, Ritesh Malik of Innov8, and Karan Singh and Sri Rajan of Bain & Company also took part in the funding.
The company, founded in 2019 by Pooja Khanna and Pankaj Chaddah primarily focused on mental wellness, but eventually pivoted to a broader coverage area of curative wellness, it said. It plans to rebrand in the near future, in a bid to reflect these changes. While Khanna was a part of tech-startup Zomato, Chadaah had co-founded Zomato in 2008.
The company plans to use the funds to expand wellness services for patients suffering from health conditions and chronic diseases, it said, as they require a ‘significant’ change in their lifestyles.
“Patients suffering from any long-drawn health condition, including pregnancy, always require a change in lifestyle in addition to clinical care,” said Khanna, co-founder, Mindhouse. “Sixty percent of the consumer spends in the $4.5 trillion wellness industry go into curative wellness, this provides a great opportunity to build an impact-oriented business,” she added.
The company, in 2020 had raised Rs 5.2 crore in a funding round led by Binny Bansal’s BTB Ventures. Other investors that had 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.
“I have loved the approach Mindhouse has taken towards wellness and strongly believe in the experience Pooja and Pankaj carry. I’m very excited to be a part of this,” said Bansal.
Mindhouse also offers yoga and nutrition programmes that are focused on specific health conditions and which cater to customers in English-speaking geographies across the globe. The company aims to create a global wellness business based out of India and believes that an Indian brand must be centrestage to digital wellness across the globe.
“India is the wellness capital of the world as the birthplace of yoga, meditation, ayurveda and many superfoods. With the quality of talent that India has, we must take pole position in delivering the highest quality wellness services to the globe,” said Khanna.
Today, Mindhouse claims to generate 75% of their revenue from India, and is looking to increase the global share of the business in the next 12 months.