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Psychological well being chatbot Wysa raises $20M


Psychological well being chatbot Wysa scored $20 million in a Sequence B financing spherical led by HealthQuad.

Different individuals within the increase embody British Worldwide Funding (BII) and former buyers W Well being Ventures, Kae Capital, Google Assistant Investments and pi Ventures. 

The Sequence B comes a bit over a yr after Wysa introduced a $5.5 million Series A fundraise. The startup additionally just lately received FDA Breakthrough Device Designation to make use of its chatbot with adults who've continual musculoskeletal ache and associated melancholy and anxiousness.

WHAT IT DOES

Wysa presents an AI chatbot that may information customers by way of cognitive behavioral remedy for considerations like low temper, anxiousness and stress. The startup's employer providing additionally features a self-care library of workouts round vanity, sleep and mindfulness, in addition to elective entry to Wysa human coaches.

Wysa mentioned the chatbot may also triage customers in the direction of greater ranges of care, like a psychological well being skilled or a disaster assist line, if sufferers want extra assist.

The startup plans to make use of the inflow of capital to develop globally, significantly within the U.S., the U.Okay. and India. The Sequence B can even assist extra languages, in addition to entry by way of the messaging service WhatsApp.

"Wysa has not solely been extraordinarily profitable as a shopper well-being platform however has additionally developed right into a clinically validated, highly effective software to proactively handle psychological well being and well-being," cofounder Ramakant Vempati mentioned in a press release.

"Wysa meets folks the place they're, whether or not meaning a bit assist with occasional office stress, proper as much as dealing with debilitating ache, melancholy and anxiousness. With this funding, we stay up for scaling-up additional and serving to hundreds of thousands of extra folks."

MARKET SNAPSHOT

One other firm providing a psychological well being chatbot is Woebot Well being, which just lately scored a $9.5 million investment from Leaps by Bayer. Woebot additionally closed a $90 million Series B round and landed its personal Breakthrough Device Designation for its postpartum melancholy digital therapeutic in 2021. 

Nevertheless, there are different corporations providing health-related chatbots, together with triage and navigation platform Ada Health and Babylon Health's symptom checker

Although competition is fierce within the bigger digital psychological well being house, the scientific space continues to be a well-liked focus for buyers. In keeping with Rock Well being's newest digital well being funding report, psychological well being startups raised $1.3 billion by way of the primary half of 2022. 



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