Revolutionising Mental Health - A Dive into the Latest Investments in the Sector
Exploring the Future of Mental Health Care: From Neurostimulation Devices to Culturally Responsive Care
In a world where mental health is increasingly recognised as a crucial aspect of overall well-being, numerous startups are making waves in the sector, backed by significant financial investments.
Spark Biomedical, a Dallas-based company, has secured $16.2 million of a $21.8 million funding round. The company has developed a neurostimulation device, The Sparrow, which the FDA has cleared to alleviate opioid withdrawal symptoms. The device is worn around the ear and is intended to be used alongside other interventions that aid in opioid withdrawal.
Heard Technologies, a startup focused on providing an all-in-one bookkeeping software for independent mental health clinicians, has secured $15 million in a funding round. The company plans to use the funds to improve key bookkeeping, payroll, and tax workflows for therapists and introduce new financial services.
Heading Health, a Texas-based company, has raised $4.5 million in a Series A extension round. The company offers telehealth services for mental health and plans to use the funding to expand to new markets and enhance its outcomes tracking and data system.
Somethings, a New York City-based virtual mental health support platform for LGBTQ+ youth, has raised $3.2 million. The company aims to provide a more fluid and adaptive experience that mimics the on-and-off nature of digital communication, offering services such as mentor matching, unlimited texting, and live video calls.
Anise Health, also based in New York City, has raised $1.2 million for its culturally responsive care. The company was launched to care for people of colour, with a focus on Asian Americans. The funding will help Anise Health expand to New York and establish new payer contracts.
These investments highlight the growing recognition of the importance of mental health and the innovative approaches to address this sector's challenges.
Source: Behavioral Health Business