Wysa, an artificial intelligence (AI)-based mental health platform, secured $20 million in a Series B round, to establish its presence in countries like India, the US, and the UK. Additionally, Wysa will increase adoption by supporting several languages.
“Wysa is developed in India and is marketed globally. The needs for Wysa are present all across, from high-income to low-income countries. Mental health triaging of patients using AI which is fast, effective and non-stigmatising for patients living in unaccepting societies answers a huge need in India, the rest of low-income Asia, Africa as well as the wealthiest countries of the world,” said Charles Antoine-Janssen, Chief Investment Officer, HealthQuad.
Wysa is an AI-based platform that was founded in 2015 by Jo Aggarwal and Ramakant Vempati. Users can visit the portal to chat with the bot if they are experiencing the early stages of a mental health condition. The website then suggests, among other options, whether the user should get expert assistance.
Wysa claims 4.5 Million user base across 65 Nations
Wysa claims to have a user base of 4.5 million across 65 countries. The startup also provides its services to firms including Accenture, Colgate-Palmolive, Swiss Re, the National Health Service (NHS) in the UK, and the Ministry of Health in Singapore.
Mental health disorders are faced by a wide range of populations across India. But due to stigma and lack of therapists and psychiatrists, people continue to suffer. But the pandemic did help in bringing in more awareness and discussion around depression and anxiety, among other issues.
Wysa also claims to have seen its user base at least double in the last year.
The funding was raised from HealthQuad and British International Investment (BII). Existing investors including US-based W Health Ventures, Kae Capital, Google Assistant Investments, and pi Ventures, among others, also participated in the round.
The firm competes with Lightbox Ventures-backed InnerHour, Juno Clinic, and Your Dost, among other platforms.
