BetterSpace, a mental healthtech startup based in Chhattisgarh, has successfully raised ₹4.5 million in its inaugural pre-seed funding round. The funding was spearheaded by PedalStart, a renowned startup community-builder and accelerator. This marks a pivotal moment for BetterSpace, which had predominantly relied on bootstrap funding until now.
The newly-acquired capital is earmarked for a multifaceted approach to elevate BetterSpace’s offerings and expand its reach. According to a press statement, the funds will be allocated towards enhancing both offline and online services, crafting a novel product range comprising games and toolkits, amplifying marketing efforts for increased brand visibility, optimizing technology and the app to ensure accessibility across various devices, and strategically acquiring top talent, among other key areas.
Co-Founder & Director of BetterSpace, Shivli Shrivastava & Abhilash Shrivastava, expressed their excitement about the pre-seed round, saying, “We are elated to announce our pre-seed round powered by PedalStart – an exciting milestone in the journey of growing BetterSpace. The funds raised through this round shall not just meet our short-term working capital needs but also ensure our stable, sustainable growth by enabling BetterSpace to move forward in a cash-positive yet socially impactful manner over the long term.”
The co-founders conveyed their gratitude to the investors who have shown faith in BetterSpace’s mission and vision. They emphasized the importance of the funds in realizing their goal of promoting improved mental wellness, emotional resilience, and happiness across communities. The ultimate aim is to create a world where everyone, regardless of their background or location, has access to quality mental healthcare.
This funding injection provides BetterSpace with the financial impetus needed to scale its operations and make a lasting impact on mental healthcare accessibility. As the startup continues its journey, the pre-seed round not only ensures short-term stability but also positions BetterSpace for long-term, socially impactful growth. With the backing of PedalStart and other investors, BetterSpace is poised to play a vital role in shaping the landscape of mental healthtech.