As part of the deal, Lightrock India has acquired a significant stake in Sukoon
Following the transaction, Lightrock India partner Saleem Asaria will become Sukoon’s CEO, while Sukoon’s founders will assume senior leadership roles in the startup.
Sukoon said he uses a multidisciplinary team of psychiatrists, clinical psychologists, counselors and vocational therapists to provide personalized treatment for patients.
Mental wellness startup Sukoon has raised $15 million from venture capital firm Lightrock India.
As part of the deal, Lightrock India has bought a significant stake in the startup. Additionally, Lightrock India partner Saleem Asaria will become Sukoon’s CEO, while Sukoon founders Vidit and Kanishk will assume senior leadership roles in the startup.
Founded in 2020 by Vidit Bahri and Kanishk Gupta, Sukoon is an online mental health platform that treats psychiatric and psychological issues.
Sukoon said he uses a multidisciplinary team of psychiatrists, clinical psychologists, counselors and vocational therapists to provide personalized treatment for patients.
“Sukoon, together with the existing ecosystem, capital and specialized expertise, national and global, can help create one of the world’s leading mental health systems. This investment is a first step towards realizing our vision of building India’s first and largest therapeutic behavioral health platform,” said Saleem Asaria, Partner at Lightrock India.
Sukoon claims to have treated more than 11,000 patients with mental health problems in the past year.
According to the startup, approximately 200 million people in India suffer from mental health problems and of this, 1% of the population requires hospitalization services. Furthermore, only 10,000 psychiatrists and 1,000 clinical psychologists practice in India.
“We are excited to work with Lightrock India and Saleem to develop our vision. We have always believed in putting our expertise and patient care at the center of our protocols and have achieved recognition for the leading services we provide in Delhi,” said Vidit Bahri and Kanishk Gupta.
The startup is looking to expand services to the cities of Bangalore and Mumbai as part of its PAN India program.
India’s healthcare sector is anticipated to become a $5.5 billion space by 2025. The segment has evolved due to digitalization and technological advancement along with government-backed initiatives.
Some of the healthcare startups, such as HealthQuad-backed Wysa, Elevar Equity-backed CureBay, and 3one4 Capital-backed Eka Care, operate in the digital healthcare space.
