Mental health tech startups fetch record investments with Covid-19

Lee said the current size of the industry is just the ‘tip of the iceberg’ and he expects huge growth in the mental health sector. — AFP Relaxnews

The Covid-19 pandemic has put the spotlight on mental health tech startups, globally marking a record year for venture capital investment in the sector, according to data firm PitchBook.

PitchBook data showed 146 deals raked in nearly US$1.6bil (RM6.48bil) in venture capital investments as of Dec 10. Last year the total was US$893mil (RM3.62bil) from 111 deals. A decade ago there were only three deals, worth US$6.6mil (RM26.75mil).