Mumbai-based healthcare platform Amaha recorded a revenue of Rs 13.8 crore in FY23, a 3.1X growth as compared to the preceding year. The same fiscal year it witnessed over Rs 12 crore coming in from operations. In FY22, it had a revenue of Rs 4.5 crore and revenue from operations contributed over 80% to the overall revenue.
Established by Amit Malik and Neha Kirpal, Amaha is a mental health platform built by therapists and psychiatrists. It offers self-care, peer support, therapy sessions, and psychiatric care among others. It aims at solving the mental health treatment gap present in India.
Its expenses amounted to Rs 37.12 crore if the fiscal year ending March 2023. It spent 2.1X more in FY23 on employee benefits as compared to the previous year. In the section of amount spent on advertisements and promotions, Amaha spent approximately Rs 3.7 crore in FY23 as compared to Rs 77.8 lakhs it spent in FY22.
The 2015 founded company saw a 2X sike in its losses as opposed to Rs 11.5 crore it spent the previous year. Its EBITDA margins stood at -162.51% while its ROCE was -66.90%.
It has raised a total of Rs 77.2 crore in over 3 funding rounds. Its latest funding was raised on January 9, 2024 from a Series A round which saw Fireside Ventures as the lead investor.
Post the infusion, founders Amit Malik and Neha Kirpal hold over 20% and 10% of the company shares respectively while the latest investor Fireside Ventures holds a little over 20%.
Amaha competes against the likes of Wysa, Kaha Mind, Epsyclinic, and Juno Clinic.