Singapore-based mental health app Intellect reaches one million users, closes seed funding

Theodoric Chew, co-founder and chief executive officer of mental health app Intellect

Theodoric Chew, co-founder and chief executive officer of mental health app Intellect

Intellect, a Singapore-based startup that wants to lower barriers to mental health care in Asia, says it has reached more than one million users just six months after launching. Google also announced today that the startup’s consumer app, also called Intellect, is one of its picks for best personal growth apps of 2020.

The company recently closed an undisclosed seed round led by Insignia Ventures Partners. Angel investors including e-commerce platform Carousell co-founder and chief executive officer Quek Siu Rui; former Sequoia partner Tim Lee; and startup consultancy xto10x’s Southeast Asia CEO J.J. Chai also participated.

In a statement, Insignia Ventures Partners principal Samir Chaibi said, “In Intellect, we see a fast-scaling platform addressing a pain that has become very obvious amidst the COVID-19 pandemic. We believe that pairing clinically-backed protocols with an efficient mobile-first delivery is the key to break down the barriers to access for millions of patients globally.”

Co-founder and chief executive officer Theodoric Chew launched Intellect earlier this year because while there is a growing pool of mental wellness apps in the United States and Europe that have attracted more funding during the COVID-19 pandemic, the space is still very young in Asia. Intellect’s goal is encourage more people to incorporate mental health care into their daily routines by lowering barriers like high costs and social stigma.

Intellect offers two products. One is a consumer app with self-guided programs based on cognitive behavioral therapy techniques that center on issues like anxiety, self-esteem or relationship issues.

The other is a mental health platform for employers to offer as a benefit and includes a recently launched telehealth service called Behavioural Health Coaching that connects users with mental health professionals. The service, which includes one-on-one video sessions and unlimited text messaging, is now a core part of Intellect’s services, Chew told TechCrunch.

Intellect’s enterprise product now reaches 10,000 employees, and its clients include tech companies, regional operations for multinational corporations and hospitals. Most are located in Singapore, Hong Kong, Indonesia and India, and range in size from 100 to more than 3,000 employees.

For many small- to mid-sized employers, Intellect is often the first mental health benefit they have offered. Larger clients may already have EAP (employee assistance programs), but Chew said those are often underutilized, with an average adoption rate of 1% to 2%. On the other hand, he said Intellect’s employee benefit program sees an average adoption rate of 30% in the first month after it is rolled out at a company.

Chew added that the COVID-19 pandemic has prompted more companies to address burnout and other mental health issues.

“In terms of larger trends, we’ve seen a huge spike in companies across the region having mental health and wellbeing of their employees being prioritized on their agenda,” said Chew. “In terms of user trends, we see a significantly higher utilization in work stress and burnout, anxiety and relationship-related programs.”

Intellect’s seed round will be used to expand in Asian markets and to help fund clinical research studies it is currently conducting with universities and organizations in Singapore, Australia and the United Kingdom.

Startups – TechCrunch

[DreaMed in Odessa American] The Helmsley Charitable Trust Awards Clalit Health Services $3.4M to Evaluate Closed-loop AI Technology at Schneider Children’s Medical Center for People Requiring Insulin Injection Therapy

Clalit Health Services announces a $ 3,419,910 grant received from The Leona M. and Harry B. Helmsley Charitable Trust to clinically evaluate the efficacy of real-time AI decision support technology. Clalit Health Services will conduct the research at its Schneider Children’s Medical Center’s Jesse Z and Sara Lea Shafer Institute of Endocrinology and Diabetes, a national referral center for childhood diabetes in Israel. The research will evaluate people with type 1 or type 2 diabetes undergoing multiple daily injections. The program will include a series of clinical studies aimed at validating a new technology provided by DreaMed Diabetes with the goal to empower people with diabetes to achieve better self-management of their condition and provide personalized real-time insulin dosing recommendations. The protocol aims to improve glycemic control and enhance diabetes treatment satisfaction for people affected with the condition.

Read more here.

The post [DreaMed in Odessa American] The Helmsley Charitable Trust Awards Clalit Health Services $ 3.4M to Evaluate Closed-loop AI Technology at Schneider Children’s Medical Center for People Requiring Insulin Injection Therapy appeared first on OurCrowd Blog.

OurCrowd Blog

Peter Thiel backs German startup that develops psychedelic therapy for mental health disorders; firm secures €105M

Mental Health

The coronavirus pandemic has sent a shockwave across the world, taking an unprecedented toll on our lives including mental health since the majority of us are confined to work and exercise from home. 

According to a report by WHO Euro (World Health Organisation Europe), in many western countries, mental health disorders are the major cause of disability, accounting for 30% to 40% of chronic sick leaves, and costing nearly 3% of GDP. 

Also, the Health at a Glance: Europe report states that mental health issues such as anxiety, depression, and drug use disorders affect over one in six people across the European Union. Embracing the opportunity, many startups have started using various technological advancements to improve mental healthcare

In this regard, Berlin-based ATAI Life Sciences is a biotech platform founded in response to the clear and growing unmet needs of mental health patients worldwide. In the latest development, the German company announced a $ 125M (approx €105M) funding in the Series C financing round, including $ 32M (approx €27M) of its 2020 convertible debt that converted in connection with the Series C.

Who led the funding round?

The round was co-led by Apeiron Investment Group, the family office of ATAI’s founder Christian Angermayer, Peter Thiel, and Catalio Capital Management. Other existing investors – Future Ventures and Galaxy Investment Partners, as well as new investors – Falcon Edge Capital and Pura Vida Pro, LLC – also participated in the round. 

How will the funding be used?

The German startup will use the proceeds to fund pre-clinical and clinical development of ATAI’s existing mental health programs, to expand its drug candidate pipeline, and further advance ATAI’s platform technologies. 

According to the company, this funding will provide the necessary runway to accomplish several key clinical milestones including Phase 2 data readouts for arketamine in treatment-resistant depression at Perception Neuroscience and ibogaine in opioid use disorder at DemeRx. Also, the financing will be used in the completion of Phase 1 and the initiation of Phase 2 trials at four other programs.

Treating mental health

Founded by Christian Angermayer, Florian Brand, and Lars Christian Wilde in 2018, ATAI is dedicated to acquiring, incubating, and efficiently developing therapeutics to treat depression, anxiety, addiction, and other mental health disorders. The company’s business model focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential.

Florian Brand, CEO & co-founder of ATAI Life Sciences, says, “We believe that our psychedelic and non-psychedelic compounds have compelling therapeutic promise based upon a growing body of scientific evidence.”

Headquartered in Berlin, with offices in New York and San Diego. To date, the company has raised $ 232.1M (approx €195M) in funding with backing from various investors.

Main image credits: ATAI Life Sciences

Startups – Silicon Canals

Peter Thiel backs German startup that develops psychedelic therapy for mental health disorders; firm secures €105M

Mental Health

The coronavirus pandemic has sent a shockwave across the world, taking an unprecedented toll on our lives since the majority of us are confined to work and exercise from home. 

According to a report by WHO Euro (World Health Organisation Europe), in many western countries, mental health disorders are the major cause of disability, accounting for 30% to 40% of chronic sick leaves, and costing nearly 3% of GDP. 

Also, the Health at a Glance: Europe report states that mental health issues such as anxiety, depression, and drug use disorders affect over one in six people across the European Union. Embracing the opportunity, many startups have started using various technological advancements to improve mental healthcare

In this regard, Berlin-based ATAI Life Sciences is a biotech platform founded in response to the clear and growing unmet needs of mental health patients worldwide. In the latest development, the German company announced a $ 125M (approx €105M) funding in the Series C financing round, including $ 32M (approx €27M) of its 2020 convertible debt that converted in connection with the Series C.

Who led the funding round?

The round was co-led by Apeiron Investment Group, the family office of ATAI’s founder Christian Angermayer, Peter Thiel, and Catalio Capital Management. Other existing investors – Future Ventures and Galaxy Investment Partners, as well as new investors – Falcon Edge Capital and Pura Vida Pro, LLC – also participated in the round. 

How will the funding be used?

The German startup will use the proceeds to fund pre-clinical and clinical development of ATAI’s existing mental health programs, to expand its drug candidate pipeline, and further advance ATAI’s platform technologies. 

According to the company, this funding will provide the necessary runway to accomplish several key clinical milestones including Phase 2 data readouts for arketamine in treatment-resistant depression at Perception Neuroscience and ibogaine in opioid use disorder at DemeRx. Also, the financing will be used in the completion of Phase 1 and the initiation of Phase 2 trials at four other programs.

Treating mental health

Founded by Christian Angermayer, Florian Brand, and Lars Christian Wilde in 2018, ATAI is dedicated to acquiring, incubating, and efficiently developing therapeutics to treat depression, anxiety, addiction, and other mental health disorders. The company’s business model focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential.

Florian Brand, CEO & co-founder of ATAI Life Sciences, says, “We believe that our psychedelic and non-psychedelic compounds have compelling therapeutic promise based upon a growing body of scientific evidence.”

Headquartered in Berlin, with offices in New York and San Diego. To date, the company has raised $ 232.1M (approx €195M) in funding with backing from various investors.

Main image credits: ATAI Life Sciences

Startups – Silicon Canals

[Diagnostic Robotics in EKMH Innovators] Interview: Diagnostic Robotics Founders Dr. Kira Radinsky and Yonatan Amir on AI, Machine Learning, Digital Health Innovation, Data Mining and More

It’s been an exciting year for Diagnostic Robotics ChairWoman & CTO Kira Radinsky, PhD and Diagnostic Robotics CEO Yonathan Amir. Diagnostic Robotics has brought together the leading artificial intelligence researchers in Israel and the United States to create a powerful AI solution trained on data from more than 27 million patient visits and currently in use at more than 75% of HMOs in Israel. The system seeks to seamlessly integrate into the major touch points along the patient journey, providing high-value decision support while slashing administrative burdens, massively reducing the cost of care, and improving patient experiences, and already counts Anthem, Brown University, Salesforce, Deloitte and the Mayo Clinic among its clients and partners.

Read more here.

The post [Diagnostic Robotics in EKMH Innovators] Interview: Diagnostic Robotics Founders Dr. Kira Radinsky and Yonatan Amir on AI, Machine Learning, Digital Health Innovation, Data Mining and More appeared first on OurCrowd Blog.

OurCrowd Blog

Mental health startups are raising spirits and venture capital

A spate of startups focused on mental health recently made enough noise as a group that they caught the eye of the Equity podcast crew. Sadly, the segment we’d planned to discuss this topic was swept away by a blizzard of IPO filings that piled up like fresh snow.

But in preparation, I reached out to CB Insights for new data on the mental health startup space that they were kind enough to supply. So this morning we’re going to dig into it.

Regular readers of The Exchange will recall that we last dug into overall wellness venture capital investment in August, noting that it was mental health startups inside the vertical that were seeing the most impressive results.


The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.


I wanted to know what had happened even more recently.

After all, Spring Health recently raised $ 76 million for its service that helps companies offer their workers mental health benefits, Mantra Health disclosed that it has raised $ 3.2 million to help with college-age mental health issues and Joon Care announced $ 3.5 million in new capital to “grow its remote therapy service for teens and young adults,” per GeekWire.

Sticking to theme, Headway just raised $ 32 million to build a platform that “helps people search for and engage therapists who accept insurance for payments,” according to our own reporting, and online therapy provider Talkspace is pursuing a sale — it looks like an active time in the mental health startup realm.

So, let’s shovel into the latest data and see if the signals that we are seeing really do reflect more total investment into mental health startups, or if we’re over-indexing off a few news items.

The state of mental health venture investing

To prepare the ground, let’s talk about the general state of healthcare investing in the venture capital world. Per CB Insights’ Q3 healthcare VC report, venture capital deal volume and venture capital dollar volume reached new record highs in the sector during Q3 2020.

The quarter’s 1,539 rounds and $ 21.8 billion in invested capital were each comfortably ahead of prior records set in Q2 2018 for round volume (1,431) and Q2 2020 for dollar volume ($ 18.4 billion) for healthcare startups.

Startups – TechCrunch

Public health unit advises restaurant workers in Kingston to get tested for COVID – Yahoo News Canada

Public health unit advises restaurant workers in Kingston to get tested for COVID  Yahoo News Canada
“nigeria startups when:7d” – Google News

[Surgical Theater in New Electronics] VR can be good for your health

In other areas of surgery, VR is being used by surgeons to plan procedures. Stanford Medical Center, the school of medicine at Stanford University, opened its Neurological Simulation Lab in 2017, using a VR system by Surgical Theater. The software creates a 3D model of the brain, compiled using MRIs (magnetic resonance images), CT (computed tomography) scans and angiograms (where dye is injected to show the paths of blood vessels).

Read more here.

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OurCrowd Blog

Public health unit advises restaurant workers in Kingston to get tested for COVID – Yahoo News Canada

Public health unit advises restaurant workers in Kingston to get tested for COVID  Yahoo News Canada
“nigeria startups when:7d” – Google News

Spring Health Raises $76M to Make Mental Health Treatment an Employee Benefit

The behavioral health market is projected to soar, reaching $ 240B by 2026, and for far too long employers have focused on keeping their employees physically healthy but ignoring mental health conditions. Spring Health has emerged as a pioneer, providing comprehensive employee mental health benefit solutions. The company’s proprietary assessment, “Precision Mental Healthcare”, understands the nuances and symptoms of conditions a person may be experiencing and then matches them to a tailored care plan for treatment. AlleyWatch caught up with CEO and Cofounder April Koh to learn more about how Spring Health breaks down the barriers for delivering mental healthcare to employees, the company’s future plans, and latest round of funding from investors that include Tiger Global. GingerBread Capital, and Operator Partners (the newly-formed fund by Nat Turner and Zach Weinberg), Northzone, Rethink Impact, William K. Warren Foundation, Work-Bench, SemperVirens, Able Partners,True Capital, Kyle Lowry, and Breanna Stewart.
AlleyWatch