01 September 2022: London-based, PsycApps Limited (“PsycApps”) has secured GBP1.5m seed funding from US specialist venture capital fund, Morningside Venture Investments.
About PsycApps
Headquartered in London, England, PsycApps is the mental health specialist behind the ground-breaking gamified mental health app, eQuoo. From an idea first conceived in 2016, aimed at improving historically poor outcomes from existing mental health treatments, PsycApps has spent the last four years clinically validating the latest version of eQuoo via a series of large-scale clinical trials, whilst at the same time beginning to refine its Go-To-Market strategy.
The capital raise allows PsycApps to move onto its next stage of eQuoo product development and commercialization.
PsycApps Founder & CEO said “Working with Kinetix was a lifesaver. As a start-up, fundraising can render the company inoperable due to the demands of the raise process placed on the founders. Kinetix not only helped us refine our value proposition, get on top of our presentations, and understand what value add investors should bring to the table, but also helped us find and reach out to the right investors. They went above and beyond, while adding some of their own sweat, blood, and tears to PsycApps, allowing us to continue our journey of growth and mental health improvement.”
KCCF Partner Ray Barrett commented: “ 'Passion’ is an overused, and often misused, word in business. However, Silja and team really are passionate about improving mental health. They are combining this passion with factual, clinical trial results data to develop a product that they can prove really does work. We are delighted to have assisted PsycApps in securing seed funding from such a high calibre investor as Morningside. Well done both PsycApps and Morningside.”
The PsycApps announcement can be found here
About us: Kinetix Critchleys Corporate Finance is an independent corporate advisory boutique, with sector specialisms in Sustainability & Cleantech, Hard & Soft tech, Financial Services including Fintech, and Healthcare. We provide strategic and M&A advice, business planning, valuations, and fund-raising services.