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Shark Tank Fame InnerGize, a D2C mental health tech startup, has raised another Rs 4.5 Crore in its pre-seed funding round led by Antler.
Angel investors such as Arjun Vaidya (V3 Ventures), Sharan Hegde from Finance with Sharan, OYO’s Ritesh Agarwal, boAt’s Aman Gupta, Azhar Iqubal, and others also took part in the funding round.
With this, the startup has raised a total of Rs 6.5 Cr in its pre-seed round. InnerGize co-founder Dr. Siddhant Bhargava said the funding was done in two phases, with the first INR 2 Cr coming from government programs like Startup India Seed Fund Scheme (SISFS), MeitY Startup Scheme, NGIS and BIRAC.
Read also- Better Nutrition Raises Rs 10 Cr Funding To Expand Biofortified Food Offerings
Last month, Bhargava shared that Shark Tank’s Gupta was initially set to invest INR 1 Cr for a 4.2% stake but later adjusted his investment to INR 30 Lakh for a 1.4% stake to include other investors.
The Delhi-based startup will use the funds for manufacturing, clinical trials, R&D and launching its first product in April 2025.
About InnerGize
Founded by Siddhant Bhargava, Shalmali Kadu and Mitansh Khurana, InnerGize is a mental health tech startup focused on reducing stress with its wearable device, InnerGize Gen 1.
The startup claims the device sends calming signals to the brain’s relaxation centers, helping users manage stress, anxiety and other health issues. It uses Neuroacoustic Vagal Modulation technology which stimulates the vagus nerve, the body’s natural relaxation switch.
The device offers 10-minute sessions designed to improve sleep, relaxation, mood, focus, pain relief and ADHD support. Its compact, portable design makes it easy to use anytime.
Though registered in July 2023, InnerGize plans to launch its first product next month. The startup says its Shark Tank India pitch has already attracted 1300 customers before launch.
The device is priced at Rs 12400, with pre-orders available for Rs 5000-6000.
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