Samsung, Lotte backs South Korean psychological well being app Thoughts Cafe with $5M investment

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Atommerce, the operator of South Korean psychological healthcare platform Thoughts Cafe, has won 6 billion gained ($4.8 million) in strategic funding from Lotte Healthcare and Samsung Challenge Funding.

WHAT IT DOES

Introduced in 2015, Thoughts Cafe claims to be the main psychological well being app in South Korea in relation to per month lively customers, reasonable keep time, choice of mavens, gross sales, and cumulative funding and company worth. 

It has round 1.5 million customers getting access to its on-line treatment services and products. The app additionally provides an worker psychological well being advantages answer for employers – over 190 establishments have availed of this package deal together with Samsung Electronics, Naver, Hyundai Heavy Industries, Toss, Musinsa Temple and Seoul Town. 

WHAT IT’S FOR

Atommerce has been securing investments for Thoughts Cafe with the objective to construct a psychological well being ecosystem, consistent with CEO Kim Kyu-tae. Excluding that, it is usually fascinated about introducing extra telemental well being carrier choices, era R&D, and increasing in a foreign country. Just lately, it introduced a neighborhood carrier for its Eastern customers, which supplied 100 counselling posts according to day throughout its beta run.

MARKET SNAPSHOT

Investments had been arduous to come back by way of in Asia-Pacific’s psychological well being house during the last 12 months, however there have been some exceptions. Indian startups Lissun and heyy each won pre-seed investment closing 12 months. Singapore-based MindFi, which specializes in company psychological well being and wellness, even raised $2 million in an oversubscribed seed investment spherical. Any other Singaporean corporate, Mind, scored an extra $10 million in Collection A investment for its enlargement. 

Atommerce’s newest funding adopted its Collection B investment carry in January closing 12 months the place it accrued 20 billion gained ($16 million). To this point, the corporate won 35 billion gained ($28 million) in general investment.



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