Augmenting Mobio Interactive’s Fundraising Campaign
Introducing a novel product to Southeast Asia
Mental health solutions are few and far between in Southeast Asia so Fundnel took a different approach to investor outreach. The investment team placed a strong focus on education: the trends, verticals and opportunities in mental health industry at large
Battling COVID-19 lockdowns in the region
Mobio Interactive’s deal was launched on Fundnel’s platform days before nation-wide lockdowns were initiated by governments across the region. In a bid to ensure business continuity and minimise disruptions to the fundraising campaign, the investment team promptly organised a virtual deal roadshow.
A chat with Bechara Saab, Co-founder, CEO and Chief Scientist
What has traction looked like for Mobio Interactive since the last raise?
Traction has been fantastic. We are in the midst of launching our product with major health insurers and conducting multiple clinical trials — including trials that examine the co-prescription of our digital therapeutics with pharmacological interventions for cancer patients. COVID-19 has significantly raised awareness of the power of digital health and Mobio Interactive is proud to be delivering COVID-19 pandemic-specific psychosocial support to countless people around the world through our clinically-validated and objectively-quantified resilience and performance app, Am Mindfulness.
What challenges did you face finding investors that were familiar with their space and how Fundnel was able to assist?
There are few investors who are willing to take the risk on a complex and emerging industry like digital therapeutics. Fortunately, we built Mobio Interactive’s business model specifically to mitigate risk, so we were able to convince really awesome investors to back us at this relatively early stage.
Fundnel helped by crafting a concise and comprehensible company profile and casting the net to a select group of potential investors. Also, with the assistance of the investment professionals, we were able to increase our exposure which consequently reduced the amount of time we had to spend on reaching out to investors.
With the injection of funds, what are your plans for the future?
We are on the lookout for talent to fill multiple roles that are crucial for our next phrase of growth, from Clinical Trial Manager, to Computer Vision Scientist, to Product Designer. If you know someone, please have him/her reach us at https://www.midigitaltherapeutics.com/join.html
We are also leveraging the funds to deepen our relationships with our pharma and insurance partners. This strategic move will rapidly expand our user base in multiple key markets.
I am also confident that Am Mindfulness will receive regulatory approval soon.
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