Source: Mercom Capital Group
Verge HealthTech Fund led the seed funding round.
Mobio Interactive, a digital mental health therapeutics and meditation app closed a $1.8 million Seed funding round. Funds will advance the deep tech and clinical validation of the Am Mindfulness (Am) meditation app.
Verge HealthTech Fund led the seed round with Atlas Asset Management, Creative Ventures, and SOSV.
According to the company, Am app is used in the clinic and recommended by physicians for cancer patients and people negatively affected by the pandemic, depression, or some other diagnosable illness. The app also provides personalized, clinically validated remote resilience training for mental illness.
The app is offered on a subscription basis, available in English, Mandarin, Dutch, and German.
Mocanu, Founder and General Partner of the Verge Healthtech Fund, said, “Digital therapeutics like Am offer incredible possibilities for delivering efficient, scalable, and efficacious healthcare throughout Asia, and we are committed to helping MI in their global expansion.”
Health insurers are also providing Am to their policyholders as a form of scientifically validated and data-rich preventative medicine.
“Mobio Interactive as a cornerstone investment for the mental wellness pillar of the portfolio, given how easy it is to imagine Am Mindfulness, and its underlying technologies, benefitting the entire
group through synergistic integration,” said Hendrik Chassé, Director of Atlas Asset Management’s Wellness Portfolio.
mHealth apps have raised $794 million in the first half of 2020, according to Mercom’s latest funding report. Ginger, a mental health service provider through its app, recently raised $50 million in a Series D funding round. The round was led by Advance Venture Partners and Bessemer Venture Partners. Mindset Health, a creator of mental health programs that help people manage and improve their health, without drugs or diets, raised $1.1 million in a funding round. Investors include Fifty Years, Y Combinator, Gelt VC, Giant Leap VC, and angel investors across the U.S. and Australia.