Catering to a user base exceeding 600,000, Evolve is crafting the globe’s most inclusive mental health application with a primary emphasis on addressing the unique needs of the LGBTQ+ community.
New Delhi, 19th December 2023: In a significant stride towards reshaping mental health support, Evolve, the pioneering mental health start-up, proudly announces the successful closure of its follow-on funding round, securing INR 2.5 Crore. The round was spearheaded by the Indian Angel Network, featuring notable participation from Rajesh Ranavat (Exec Director – Fung Strategic Holdings) and strategic angels. This follows Evolve’s earlier triumph in raising an INR 3 Crore Pre-Seed round in July 2022.
Niraj Saran, a distinguished investor associated with the Indian Angel Network, led the funding round and is slated to join Evolve’s board post the investment, bringing strategic insights to the forefront.
Founded in 2020 by Anshul Kamath and Rohan Arora, Evolve has garnered a user base exceeding 600,000 globally. Recognized as the Best App for Personal Growth in 2021 by Google Play, the platform distinguishes itself through a unique commitment to inclusivity, particularly addressing the needs of the LGBTQIA+ community—a segment historically underserved in the mental health landscape.
The past year witnessed Evolve’s dedicated efforts collaborating with queer-affirmative therapists, community members, and research experts. The company’s approach is encapsulated in the three Cs: Content, Community, and Coaching. The app, enriched with proprietary UI/UX and interventions, caters to diverse audiences through curated content, support groups, and connections with qualified coaches. Evolve is at the forefront of innovation, actively experimenting with Generative AI to deliver personalized interventions at scale.
The freshly acquired funds are earmarked to enhance the app’s offerings and extend business initiatives to Diversity, Equity, and Inclusion (DEI) programs within corporate sectors.
Founder Anshul Kamath expressed enthusiasm about the next phase of growth, stating, “We’ve built a vibrant, inclusive community where individuals find not just support but a true sense of belonging. We’re thrilled about this next phase of growth and excited to welcome a new set of investors who share our passion for making mental health care personalized, affordable, and inclusive.”
Padmaja Ruparel, Co-Founder at IAN, emphasized the alignment of Evolve’s commitment with IAN’s vision for impactful investments. She anticipates that this funding will empower Evolve to deepen its offerings and extend its influence to Diversity, Equity, and Inclusion initiatives.
Lead investor Niraj Saran, a Silicon Valley-based Technology and Business Leader, expressed excitement about Evolve’s impact in improving mental health outcomes, highlighting their unique approach of curated content, community, and cutting-edge technology. He affirmed his commitment to actively support Evolve along its transformative journey.
The investment not only marks a pivotal moment for Evolve but also signifies a collective commitment to addressing critical gaps in mental health care, setting a benchmark for future ventures. The team at Evolve is poised to make a lasting impact in the mental health space, backed by the support and strategic guidance of its investors.
