Mental health startup Evolve said it has raised Rs 3 crore in a funding round led by Rajesh Ranavat, executive director of Fund Strategic Holdings. The round also saw participation from founders of Dineout, Ankit Mehrotra and Nikhil Bakshi, and senior global executives from Meta and McKinsey.

Cofounded by Anshul Kamath and Rohan Arora in 2020, Evolve has over 2,50,000 users globally. The app and its proprietary interface provide users with a virtual safe space and personalised, evidence-based interventions to improve mental health.

Evolve also serves mental health needs of the underserved LGBTQ community who are more likely to experience serious mental illness compared to others. The app was awarded the Best App for Personal Growth in 2021 by Google Play.

“Our plans are to use the funds we have now secured to expand the core team at Evolve and invest in building a world-class product that continues to provide individual and collective safe spaces for users around the world,” Kamath said.

“In a short period of time, Evolve has built a very compelling mental health app which operates totally on an interactive AI platform enabling it to scale up at a global level," lead investor Ranavat said.