The company plans to utilise the funds to improve the platform, enhance customer experience and build a larger stack of wellness services on the platform
mHealth – a community-based employee wellness platform powered by artificial intelligence has recently secured an undisclosed amount in the seed funding round led by India Accelerator. The investment round also witnessed participation from HNIs & Industry veterans such as Govind Rao, Vikram Gupta, Alok Mani and others.
Incepted in 2020, the Delhi-based startup helps corporates in personalizing their employee wellness programs on a single platform. mHealth equips corporates to create focused groups, fitness activities, employee assistance program, care programs and launch challenges and wellness camps on a single platform and at the same time, it increases employee engagement and productivity by ensuring the mental and physical wellbeing of employees.
Within 6 months of its inception, mHealth has served some of the largest corporates including Global Insurance, Aegon Life, Wiley, IDFC Bank, Airworks to name a few. Seeing the market response, the company plans to use the funding to improve the platform, focused on customer experience and build a larger stack of wellness services on the platform.
Commenting on the fundraise, Co-Founder, IA Mona Singh said, “The COVID-19 pandemic has changed the way Corporates used to look at employee wellness. The future of work is going to be hybrid and it is important for corporates to engage and ensure the wellbeing of employees. We see immense potential in mHealth and look forward to seeing the company disrupting the employee-led wellness space.”
“Every individual is different and it is important that an employee’s experience should be personalized, meaningful and delightful yet connected. At the end of the day, employees are the most important assets for the growth of any organization,” said Rajesh Munjal, Co-Founder & CEO of mHealth.
The corporate health and wellness market is under-penetrated in India. According to the estimates, it is valued at around $7 billion and continues to grow with a projection to reach ~$18 billion by 2025. mHealth is well poised to penetrate in the employee wellness market and help corporate personalize their employee experience. It plans to expand its presence across India as well as global markets by the end of next year.
Speaking about the Platform, Anjan Bose, Lead Advisor, Health-Tech vertical at IA said, “The immense potential of such a startup to leverage new cutting-edge technologies should result in addressing a major issue of employee engagement through health & fitness activities and help employees to overcome adverse lifestyle conditions through our AI-based wellness platform”.
Furthermore, the startup aggressively eyes on its international expansion and is also in talks for its next round of funding, expected in next few months.
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