Pre-seed funding of 30 million rupees (US $376,000) was provided by senior worldwide executives from Meta and McKinsey & Company for the LGBTQ+ community-focused startup Evolve.
Rajesh Ranavat, the executive director of Fund Strategic Holdings, led the round, which also included angel investors such as the co-founders of Dineout, Ankit Mehrotra and Nikhil Bakshi.
The software from Evolve employs a unique UI to provide users with a virtual safe haven. Additionally, it makes use of individualised, research-based therapies to enhance their mental health.
In order to better understand the needs of the LGBTQ+ community, the team collaborates with queer-affirmative therapists, members of the community, and professors who are conducting research in the area.
In 2020, Anshul Kamath and Rohan Arora co-founded Evolve, which now has over 250,000 users worldwide.
According to Kamath, the money will be used to grow Evolve’s core staff and improve its offering.
