Lissun raises $327K convertible round from Zerodha-backed Rainmatter
What's the deal? Gurugram-based mental health platform Lissun has raised $327,000 in a convertible round from existing investor Rainmatter, the Zerodha-backed fund, alongside India Foundation Fund and individual investors. It is the startup's first capital infusion in nearly two years, following a $2.5M pre-Series A led by RPSG VenturesDealroom has a profile for this one. Try Dealroom → in September 2024.
Founded in 2021 by Dr. Krishna Veer Singh and Tarun Gupta, Lissun is a tech-enabled platform offering therapy, counselling, and wellness solutions for individuals and enterprises. It claims to have delivered over 35,000 therapy sessions across more than 40 cities, serving 200+ clients through partnerships with corporates, healthcare providers, and educational institutions.
The company's valuation rose roughly 40% to around Rs 101 crore (~$12M), up from Rs 72 crore in its pre-Series A round, according to estimates from Entrackr.
Why now? Lissun's operating revenue nearly doubled in FY25, reaching Rs 5.13 crore from Rs 2.66 crore the prior year — a sign of growing demand for its services. In July 2025, it acquired US-based mental wellbeing startup Being CaresDealroom has a profile for this one. Try Dealroom → Inc to build an AI-driven, child-focused behavioural development ecosystem in India.
The fresh capital will fund working capital needs and general business operations as the company looks to sustain that growth trajectory.
What could go wrong? Despite the revenue jump, Lissun's losses grew 8.2% to Rs 9.85 crore in FY25 — meaning it spent nearly twice its revenue. The modest size of this round suggests the startup may need to raise again soon if it cannot narrow the gap between spending and income.
Mental health platforms also face persistent challenges around user retention, clinician supply, and price sensitivity — particularly in India, where willingness to pay for therapy remains uneven.
The signal: Rainmatter FoundationDealroom has a profile for this one. Try Dealroom →, classified by Dealroom as a government and non-profit entity rather than a traditional VC, doubling down on Lissun via convertible notes underscores a shift in who is backing India's mental health startups — mission-aligned capital stepping in where conventional venture funds have grown cautious. With Lissun still at "breakout stage" and burning nearly twice its revenue, the choice of convertible instruments over priced equity suggests even committed backers are hedging until the unit economics prove out.
Read more: Entrackr
