Neend, mobile-based application for sleep management has announced that it has raised $700k in its latest pre-seed round. The funding round was led by Better Capital, and saw participation from Rohit Bansal and Kunal Bahl (Founder of Snapdeal), Kunal Shah (Cred), and Nandan (Swiggy), Niraj Singh (Spinny) Sandeep Singhal (Nexus), Lalit Keshre and Harsh Jain(Groww) among others.
What will funds be used for?
The funds will be used for linguistic expansion and create more depth in categories like Yog Nidra, guided meditation session, and music, amongst others.
In addition to this, Neend will also collaborate with the professional sleep experts to help users to measure, understand, and fix their sleep.
Commenting on the investment, Surbhi Jain, Founder of Neend, said, “In the last 5 years due to change in our lifestyles - lack of physical exercise, increased screen time consumption, and stress, sleeplessness or insomnia has become a very common problem. One in every 3 people has sleep troubles in the world. This has poised a huge challenge for individuals, impacting productivity levels. We wanted to build a platform that helps people address this. Through our relaxing content based approach, we are helping individuals cure insomnia and provide better quality sleep.”
Vaibhav Domkundwar of Better Capital, an early backer of innovative health tech companies like Cradlewise, Fittr, Mojocare & others, said, “Insomnia is fast becoming a major problem in India and is likely to get worse. Neend is an outcome of a founder’s personal journey with sleep deprivation. Neend combines immersive content and sleep expertise in a simple single app that is designed for millions of Indian users who are suffering with little help. I am excited to partner with Surbhi & team as they build the Sleep App for India”.
App deals with sleep-related issues
Founded in 2021 by Surbhi Jain, an IIT Bombay alumnus and serial entrepreneur, Neend aims to help individuals cope up with all sleep related problems, and provides an immersive experience with its relaxing bedtime stories, soothing sleep sounds, and ambiences. Owing to the current fast paced life, a majority of Indians are dealing with stress and anxiety which often lead to sleep deprivation, which the brand is aiming to address.
The company offers vernacular language bedtime stories and guided meditation to make sleep more effective, it said in a statement.
In the past few months, Neend has seen tremendous growth across platforms. Their youtube channel has more than 6.5 million views, with a subscriber base of 75000 in just a couple of months. The Neend app currently has over 50K downloads (most of these coming organically), with individuals suffering with severe insomnia issues recovering significantly and getting rid of their medication, according to an official statement.
The company is also working with experts to build sleep therapy content that helps cure stress, and chronic insomnia, it added.