£1.4m Raised by MindLabs London
The pre-seed investment round was led by Passion Capital with participation from Seedcamp.
07:08 29 October 2020
London-based mental health company Mindlabs has successfully raised £1.4million in pre-seed investment. The funding will be used to tackle the growing mental health problems caused by the Covid-19 pandemic, which saw the rate of depression in British adults increased significantly in the last 12 months.
The pre-seed investment round was led by Passion Capital with participation from Seedcamp and founders of Carwow, Urban, Zoopla and Cazoo.
Mindlabs' platform has been specifically designed to help people rewire their minds to battle mental illnesses. It combines live video from experts in mindfulness and professional therapists and psychologists with an online community and analytics.
Adnan Ebrahim, co-founder and CEO of MindLabs, said: “Having run a media company in a tough market with a young, millennial workforce, we witnessed first-hand how there was a complete lack of investment in helping this generation with their mental health in a way that they’re used to: a community product that is mobile-first and video-led. We want to make the world a happier place by making working on your mental health as normal as going to the gym.”
Gabor Szedlak, co-founder and COO of MindLabs added: “COVID-19 has massively accelerated the downward trend we’ve seen in people’s wellbeing, and lockdown has only amplified existing problems such as loneliness, anxiety and social media addiction.
“We know consumers are looking for live, rich and personal experiences and we’re excited to build this solution for millions around the world.”
Eileen Burbidge, Partner at Passion Capital, said: “We’re incredibly excited to be working with MindLabs as they transform the way we look after our minds. Mindfulness is more important now than ever and we know that Adnan and Gabor’s commitment to best in class content, quality production and unparalleled user experience means they’re the best to bring this platform to market.”