mindlabs Secures $3.5M Seed Funding for Mental Wellness App

MindLabs Secures $3.5 Million Seed Funding to Expand Mental Wellness Platform

Integrating mental wellbeing into daily life can present challenges, particularly for individuals already navigating busy schedules and high stress levels. MindLabs aims to simplify this process through a combination of on-demand and live video sessions, alongside integrated community features.

The company recently announced the successful completion of a $3.5 million seed funding round, occurring approximately eleven months following its initial pre-seed investment.

Investment Details and Timing

PROFounders Capital spearheaded the seed round, with contributions from the Slack Fund, Jeremy Darroch – Sky’s executive chairman and former CEO – and returning investors Passion Capital and Seedcamp.

The announcement was strategically timed to coincide with the approach of World Mental Health Day on October 10th, serving to amplify awareness surrounding mental health concerns and broaden access to supportive care.

Future Plans for Funding

The newly acquired funds will be allocated towards expanding MindLabs’ teams in product development, engineering, content creation, and marketing, as the company prepares for its public launch in the coming year.

Founding and Inspiration

MindLabs was established last year by Adnan Ebrahim and Gabor Szedlak. Prior to this venture, they founded and managed CarThrottle, a successful automotive platform and community which was later acquired by Dennis Publishing in 2019.

During an earlier conversation with TechCrunch, the founders explained their decision to concentrate on mental health, citing the significant rise in depression rates, particularly exacerbated by the COVID-19 pandemic.

Platform Development and User Growth

Over the past year, MindLabs has assembled leadership teams for its engineering, production, and marketing divisions. They have also developed a beta version of their application, currently featuring 16 instructors.

A public launch of the platform is scheduled for the first quarter of 2022. Ebrahim shared with TechCrunch that MindLabs has already amassed thousands of users on its waiting list, boosted by the growth of its Instagram presence, which now boasts nearly 60,000 followers.

Geographic Expansion

Initially, MindLabs will become available in the United Kingdom, with subsequent expansion planned for the United States. The team anticipates further growth into non-English speaking markets, believing the platform’s adaptability facilitates easy translation.

Content and Community Features

The application currently hosts over 100 pre-recorded videos created by professionals in mental wellness, psychology, and neuroscience. Daily live video classes will also be offered from a studio located in West London.

Richie Bostock, also known as The Breath Guy, a renowned meditation and breath-work expert, is among the platform’s instructors. Community features have been incorporated to address the feelings of isolation experienced by many during the pandemic.

Future Hardware Integration

MindLabs also intends to introduce hardware solutions, such as an EEG headband, to monitor key health indicators. Ebrahim emphasized a strategy of launching with an app-first approach before integrating wearable technology.

Affordable subscription options for classes are planned to maximize accessibility. The company remains enthusiastic about tracking biomarkers related to mental state, including EEG, heart rate, and breathing patterns, through both existing and proprietary wearables.

“We envision this capability enabling a more precise, real-time understanding of our users’ emotional states,” Ebrahim stated. “This will allow us to deliver the most pertinent video classes, ultimately contributing to improved mood and wellbeing.”