MindPeers revolutionizing mental health with technology

January 2, 2025 Start Up Valli Sarvani

Mental health has long been a topic of stigma and reluctance in India, but startups like MindPeers are bringing innovative solutions to the table.

Launched in 2020 by Kanika Agarwal, MindPeers positions itself as Asia’s fastest-growing mental strength platform, combining therapy, neuroscience-based games, and self-help tools to promote emotional well-being.

Kanika Agarwal’s personal battle with anxiety and panic attacks inspired her to delve into mental health solutions.

A former tech professional with experience at Google and Microsoft, Agarwal founded her first venture, Passion Peers, in 2016.

Although successful, with ₹90 crore in revenue in two years, the pressure to perform and a fear of failure took a toll on her mental health, leading to panic attacks in 2017.

In 2019, Passion Peers was acquired, freeing her to focus on mental health advocacy.

Her research into neuroscience and mental health laid the foundation for MindPeers.

Joined by co-founder Sahil Chitkara in 2021, the Delhi-based startup began offering unique services like real-time psychologist replies and a proprietary algorithm to assess how life’s factors affect the brain.

MindPeers has grown rapidly, with 30,000 monthly active users and 3,500 paid users accessing premium features for ₹350 per month.

Six psychologists are on the payroll, and the platform recently ventured into the B2B market, partnering with HR departments to improve employee well-being.

This strategic shift is already paying off, with October 2022 sales reaching ₹16.5 lakh—split between B2C and B2B revenue.

Expansion plans are underway, targeting Singapore, the US, and the UK markets. MindPeers also raised ₹1.12 crore in its first funding round, valuing the company at ₹33.75 crore.

MindPeers made waves on Shark Tank India Season 2, securing ₹1.06 crore for 2% equity, twice the founders’ initial ask.

Sharks Peyush Bansal, Vineeta Singh, Namita Thapar, and Aman Gupta joined forces, leveraging their expertise in healthcare, branding, and technology to boost MindPeers’ future.

Agarwal’s pitch resonated with the investors, particularly her plan to introduce AI-powered nudges that encourage mental health activities.

The startup is now poised to redefine how mental health is perceived and addressed in India and beyond.

MindPeers is more than just a mental health platform; it’s a movement to destigmatize emotional well-being.

With its innovative approach, the startup is set to create a healthier, more open society where mental health is a priority, not an afterthought.

Image Credit: Mindpeers Website Screenshot