Mave Health Raises $2.1M for Mental Health Wearables

Healthtech startup Mave Health has raised $2.1 million in a seed funding round led by Blume Ventures, with participation from All In Capital, Inuka Capital, and Stanford Angels, among others. The funding will support the launch of its wearable headset in the US and India, as well as expand its manufacturing capabilities.

Founded in 2023 by Dhawal Jain, Jain Sharma, and Aman Kumar, Mave Health develops non-invasive wearable headsets designed to improve focus, mood, and stress regulation. The device delivers low-intensity electrical signals to the brain using transcranial direct current stimulation (tDCS). The technology behind the headset is based on non-invasive brain stimulation (NIBS), delivering mild electrical currents to specific areas of the brain to regulate neural activity.

Mave Health’s flagship headset is designed to deliver low-intensity stimulation to strengthen the prefrontal cortex. The device is meant to be worn for 20 minutes a day and can last up to a month on a single charge with regular use. The startup claims that 80% of users report an over 60% increase in productivity and 75% of users experience reduced stress within four weeks of use, with an average mood improvement of 77%.

With the latest round, the startup’s total funding has reached nearly $3 million, including a $750,000 pre-seed round raised back in 2023. Mave Health is currently operating in beta, with over 500 users onboarded after its public release last month. The device is available for pre-order in both markets, with shipping set to begin next month.

The development comes at a time when India’s healthtech wearables market is witnessing a shift from basic fitness tracking to advanced health monitoring and longevity-focused solutions. This trend is expected to form a significant part of the broader healthtech market in the near future. Overall, India’s healthtech market is projected to reach $21.3 billion by 2025, growing at a CAGR of 27%.