Fireside Ventures leads a 50 crore Series A fundraising round for mental health firm Amaha.

On Wednesday, Amaha, a company focused on mental health, announced that it has raised ₹50 crore in a Series A financing round led by Fireside Ventures. ₹15.6 crore more was contributed by other angel investors.Amaha, the former InnerHour, intends to expand and improve its mental health offerings with the help of this investment. Serving more than 600 Indian locations, the Mumbai-based organization provides a range of therapies and care programs for mental health issues like anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions.The portfolio of Fireside Ventures, an investment firm that focuses mostly on consumer-focused startups, comprises businesses in the food and beverage, personal care, kids & education, lifestyle, and home products industries. It made investments in various wellness firms last year, including The Good Bug and Inito.A portion of the increased awareness and support for mental health and wellness in recent years has come from celebrities, including actors and cricket players, as well as from a number of organizations and social media platforms.

Amaha was established in 2016 and offers digital services via an app that provides self-care tools and resources, in addition to operating physical centers in Delhi NCR, Bengaluru, and Mumbai. The founder and CEO of Amaha, Amit Malik, stated in an interview with Mint that "we're looking to go beyond digital at this stage because I think there is a lot of unmet need within the industry." Amaha has been aggressively investing in infrastructure, including physical clinics and technical advancements, despite growing losses in 2023 and maintaining a positiveAmaha obtained $5.2 million from Lightbox Ventures, a venture capital firm, in 2021. Additional angel investors that took part were Hitesh Oberoi, CEO & MD of Info Edge India Pvt. Ltd., Pankaj Sahni, CEO of Medanta-The Medicity Hospitals, and Capricorn Ventures & Micasa Investments (Singapore).