Mindset Health is looking to launch new hypnosis-based apps for anxiety, sleep, and even chronic pain.
👉 Background: Mindset Health is a Melbourne-based startup that has created a range of hypnosis-based apps - to manage irritable bowel syndrome, menopausal hot flushes and to help people quit smoking.
👉 What happened: Mindset Health now has 31,000 monthly paid subscribers and is looking to launch new apps for anxiety, sleep and even chronic pain. It has knocked on the door of investors who have tipped in $17.8m in an oversubscribed round.
👉 What else: And it’s fair to say this is a positive signal for startups who have definitely felt the pinch of the macro environment.
💡 For startups that can demonstrate strong user growth and financials, there is still capital out there. But in 2022, startups in Australia saw a fall in overall investment by around 30%, according to the State of Australian Startup Funding report.
💡Interestingly, there were almost the exact same number of deals in 2022 compared to 2021. But the size of the big deals…or mega rounds… were just a hell of a lot smaller.
💡 But with the top three venture capital firms in Australia raising over $2.4 billion together, there is definitely a lot of capital out there.
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