Deal Overview
Gurugram-based mental health platform Lissun has raised Rs 2.77 crore in fresh funding, marking its return to the capital markets after nearly two years. The round was led by existing investor Rainmatter (the investment arm of Zerodha), with participation from the India Foundation Fund and a group of individual investors.
Transaction Details
- Total Raised: Rs 2.77 crore ($0.33M)
- Valuation: ~Rs 101 crore ($12M), representing a 40% uptick from its previous round.
- Structure: Capital was deployed via a mix of convertible notes (Rs 2.5 crore) and equity issuance (Rs 27 lakh).
- Strategic Moves: The board also approved a fresh Management Stock Option Plan (MSOP) valued at Rs 5.06 crore to incentivize leadership.
Business Performance & Traction
Founded in 2021 by Dr. Krishna Veer Singh and Tarun Gupta, Lissun operates a tech-enabled platform bridging therapy and clinical wellness. The firm has demonstrated strong revenue growth, with operating revenue nearly doubling in FY25 to Rs 5.13 crore. While losses grew slightly (8.2%) to Rs 9.85 crore, the company has scaled its operational footprint, delivering over 35,000 sessions across 40+ cities.
Market Context
Lissun’s strategic focus has pivoted toward AI-driven diagnostics and child-first behavioral development, bolstered by its 2025 acquisition of U.S.-based Being Cares Inc. In a competitive landscape featuring incumbents like Wysa and YourDOST, Lissun is differentiating itself through B2B2C partnerships with educational institutions and healthcare providers.
Founder Takeaway
The deal underscores the importance of maintaining internal momentum through strategic milestones (like acquisitions and product expansion) even when broader market liquidity is constrained. Founders should note how Lissun utilized convertible notes as a flexible instrument to bridge valuation gaps and provide immediate runway for operational scaling.