Behind Mave Health's INR 6 Crores Pre-seed Round, led by All In Capital and Utsav Somani's iSeed fund

Apr 18, 20243 min
Mave Health Founders Aman, Dhawal Jain and Jai Sharma

We’re thrilled to announce our INR 6 Crores pre-seed round. 🚀

A warm welcome to our new investors, including All In Capital, Utsav Somani (iSeed fund), Bharat Founders Fund, Deepinder Goyal (Zomato), Mohit Kumar and Vatsal Singhal (Ultrahuman), Kunal Shah (CRED) and others. Their early confidence in our bold vision empowers us to redefine mental healthcare standards.

What are we building at Mave Health?

Three insights shape everything we do at Mave Health today.

  1. The average onset age for depression has alarmingly shifted from the mid-fifties to the mid-twenties over the past 30 years. This significant shift means an increasing number of young people are grappling with severe mental health issues early in their lives.
  2. At present, over 1 crore Indians consume antidepressants each month. Whether knowingly or unknowingly, these individuals also encounter the lifestyle-disrupting side effects of these drugs. The most common side effects include drowsiness, erectile dysfunction, loss of libido, numbness, increased anxiety, hair loss, and weight gain.
  3. Depression is a cyclical problem requiring active intervention to prevent relapse. Many people discontinue their treatment with therapy and antidepressants as soon as they feel better due to cost, time, and/or side effects. The relapse rates with both these interventions can be as high as 70% in the first year.

To find a solution that effectively addresses these three problems, we delved into the field of neuroscience. Our search led us to develop Arc, India's first non-invasive brain stimulation wearable that safely treats depression at home without any side effects. We are launching a 12 week long personalised treatment program, centred around Arc to treat and manage depression effectively.

It's crucial to note that the creation of Arc was made possible not solely through our efforts, but also through the contributions of neuroscientists and psychiatrists from Harvard Medical School, AIIMS, NIMHANS, Maastricht University, and other leading research institutes. Their generosity in sharing their insights and research findings, amassed over the last 20 years, has been invaluable.

Early success with Arc

In recent months, we have run pilot programs with various hospitals and private clinics across India. Through these pilot initiatives, numerous individuals gained access to Arc. On average, users who utilised Arc saw an 88% improvement in their depression scores over a 12-week period, with 72% achieving remission (or overcoming depression). Furthermore, 65% of users reported enhancements in mood and cognitive function within the initial 21 days, a leading outcome in mental health.

A big thanks to each of our early Mavericks for their trust and their invaluable feedback, which helps us continue to elevate the standard of mental health care.

12 Week Program Approach

A key insight is that a multimodal approach to treating depression leads to better outcomes and lower relapse rates. With this in mind, we are launching a 12-week personalised program for treating depression where Mavericks will have access to:

  1. Arc
  2. Outcome-driven therapy
  3. Psychiatric consultations
  4. Nutrition coaching
  5. Fitness coaching
  6. Digital well-being modules

To uphold our commitment to the highest standard of care, we are only enrolling a limited number of individuals into the program each month. To register, please book a consultation call with our team.

What’s next?

We have had incredible trust and support of our Mavericks and mental health partners which has helped us in developing a product that we’re proud of. Now it’s time to switch gears and refocus on our top two goals.

  1. Make Arc accessible to more individuals
    We are constantly increasing our partner network through partnerships with individual MHPs, private clinics and hospitals. If you’re an MHP looking to partner, register here.
  2. Increasing the effectiveness of Arc
    We believe healthcare is most effective when it’s personalised, and our team of experts- neuroscientists, psychiatrists and psychologists, are continuously developing more personalised program protocols for Arc. Stay tuned for what’s in store :)

Thank you

Ours is a bold mission, but we promise to do our best to deliver. Mave Health’s journey has been an exhilarating experience and we have the best partners- team-mates, investors, Mavericks and supporters, one could ask for. Our hearts are filled with gratitude. Thank you.

P.S. If you support our mission, please help us spread the word about Arc on social platforms such as LinkedIn, Twitter, and Instagram. If you know someone struggling with depression, consider sharing this article with them or encourage them to contact us at We're here to help.

Wishing you health and happiness, 
Dhawal Jain 
Co-founder & CEO, Mave Health

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Dhawal Jain
Founder and CEO, Mave Health