The healthcare industry in India has advanced quickly in recent years, becoming readily accessible to the general public while they are on the road. The $12 billion healthtech market is also very varied, covering anything from fitness support to wellness, healthcare, and e-pharmacies.
Also receiving a lot of attention is mental health. We have highlighted early-stage firms that are targeting this market, such as SoulUp and Mind Alcove. The Delhi-based firm Lissun is also working to improve public access to mental health services. The firm, established in 2021 by Krishna Veer Singh, promises to deliver an end-to-end solution for mental health and integrate mental health into standard healthcare.
Lissun accomplishes this by essentially enlisting companies on its platform, such as healthcare partners & institutions, coaching centres, educational institutions, corporates, etc., and then providing goods and services to its users via their distribution channels. It collaborates with medical facilities to offer aid in high-stress use cases including infertility, cancer, nephrology, etc.
The business has served clients in 30 Indian cities, reached over 15,000 paying clients, performed 30,000 therapies, and received more than 50,000 visitors to its internet platforms.
Investors like Marquis Angels and IvyCap Ventures have contributed $1 million to Lissun to date. According to Singh, the business is finalising a seed round. He added that in a few months, the business would also raise series A capital of up to $5 million. More information regarding the planned fund-raising initiatives was withheld by Singh.
Singh noted that this market also faces competition. Wysa, Amaha Health, and YourDost are a few of the businesses that have recently garnered popularity. To ensure that it stands out in the market, Lissun, however, is relying on the B2B2C strategy.
Additionally, Lissun is attempting to broaden the range of goods it provides. According to the company’s creator, automation models will be used as a “next step” to develop user-specific experiences for important client archetypes, including children with autistic spectrum disorders, students preparing for competitive exams, and others.
In order to continue improving the quality and user experience on our platform, he added, “We have a very rich source of information based on our journey to date. We now plan to start modelling data based on this experience and put in place AI/ML technologies.”
Nevertheless, an increasing emphasis on wellbeing and mental health among young people and working professionals has made mental health a booming sector. It’s a sizable market opportunity as well, with a projected value of $383.31 billion in 2020 and a projected value of $537.97 billion in 2030. This trend will benefit companies like Lissun and Mindhouse, YourDOST, and WySa.