Amaha raising Rs 100 crore to build a mental health hospital network
Mental healthcare provider Amaha is set to close a Rs 100 crore fundraise to expand its network of hospitals and clinics across India, The Hindu BusinessLine reported on October 23. The round includes Rs 10 crore in debt financing from Alteria Capital.
Existing investors Lightbox Ventures and Fireside Ventures are backing the round, along with London-based life skills platform Sandbox International Holdings, Nithin Kamath through Rainmatter, and the family offices of Shreyas Shibulal, Ashish Bharat Ram and Adarsh Jalan.
Amaha treats conditions including anxiety, depression, bipolar disorder, ADHD, OCD, addiction, schizophrenia and personality disorders, through digital self-care, outpatient and inpatient treatment and community support.
It currently runs two hospitals with about 30 beds in Bengaluru and nine centres across Delhi NCR, Mumbai and Bengaluru.
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The company plans to add about 1,000 beds over roughly five years, through about 30 hospitals and 60 clinics. The new funds will go into infrastructure, its clinical teams and technology, it said.
Founder and CEO Amit Malik, a psychiatrist who did his MBBS in India and then spent 14 years in the UK, told BusinessLine he first tried to build mental health services inside a larger multi-specialty hospital system.
Mental health ranked low among hospitals' priorities, he said: “Surgical specialties take the forefront.” After eight months of conversations, he started Amaha about ten years ago with his own funds and support from friends and family.
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