Bethnal Green Ventures (BGV) is Europe’s leading early-stage tech for good VC.  BGV invests in ambitious teams using technology to tackle pressing social and environmental challenges, helping them launch and scale their businesses through their flagship Tech for Good programme and providing opportunities for follow-on funding and life-long support.

Bethnal Green Ventures

Innovating to improve life for people living with a skin condition

LEO Innovation Lab

TalkLife

TalkLife is a social network that’s saving lives - a mobile platform tackling the global youth mental health crisis. Talklife is fast becoming an industry innovator by embracing smartphone technology and creating a pathway that encourages youth to become transparent with their struggles in an accepting and positive environment, shining light on taboo topics such as depression, self harm and suicide.

TalkLife was founded in London in 2012 by Jamie Druitt, after going through mental issues and noticing an absence of space for people to be open about their mental health. The company provides an emotional-support platform for users older than 16 to connect with peers and volunteers to share and talk about mental health-related conditions. TalkLife offers two products: 1) TalkLife, an app that provides a global peer network for individuals to connect and 2) TalkCampus, aimed at students in universities and colleges in the US, UK and Australia. Users can comment on other’s posts and post their issues on the platform (both in their names and anonymously, if required). The apps are free for personal use and had a base of more than 1.5 million users spanning 125 countries as of September 2020.

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

TELUS Ventures Backs TalkLife in a Bid to Revolutionise Mental Health Support

TalkLife was founded in London in 2012 by Jamie Druitt, after going through mental issues and noticing an absence of space for people to be open about their mental health. The company provides an emotional-support platform for users older than 16 to connect with peers and volunteers to share and talk about mental health-related conditions. TalkLife offers two products: 1) TalkLife, an app that provides a global peer network for individuals to connect and 2) TalkCampus, aimed at students in universities and colleges in the US, UK and Australia. Users can comment on other’s posts and post their issues on the platform (both in their names and anonymously, if required). The apps are free for personal use and had a base of more than 1.5 million users spanning 125 countries as of September 2020.The company leverages machine learning to connect people and offer personalized digital support interventions. With the functionality of a social network combined with clinical governance, users can safeguard their privacy and escalate cases to get the attention of other users. There are administrators and moderators reviewing the activities of users on the platform and they will notify the authorities if users are in imminent danger to themselves or others or if users discuss/accept responsibility for illegal activities on the platform.

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 Boulder Care is a telepsychiatry platform that connects patients who are opioid-addicted users to addiction specialists, care coordinators, and peer coaches. Patients can get personalized plans via video and text messaging and the app is intended to be used in conjunction with prescription medicines and lab tests.
 
 
 Funding and financials
 
 
 In June 2022, the company raised USD 36 million in a Series B funding round. The funds were earmarked to triple the size of the company’s medical care team, expand its geographical footprint, and increase its value-based care treatment options through partnerships with health plans.
 
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Boulder Care

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 7 Cups provides an emotional-support platform with a network of volunteer listeners. Users can anonymously access either one-on-one chats or group chats 24/7, free of charge for issues such as depression, anxiety, relationships and those related to the LGBTQ+ community. It also teaches users skills such as meditation to improve their lives. If users want additional support, the company also provides access to an online therapy platform with a network of 180 licensed therapists for a subscription plan of USD 150 per month. 7 Cups is available for users above 13 years of age (users between 13 and 17 years old engage with listeners who are specifically trained in teenage interactions).
 
 
 Volunteer peer listeners get free training and support as well as flexible scheduling. Once a user requests a chat, it will be directed to available listeners and if the user requests a specific listener, he will be connected as soon as the listener accepts the demand. The service is anonymous and the listener has no access to the details of the user unless the information is disclosed to the listener by the user in their conversations. As of January 2022, 7 Cups has facilitated more than 51 million conversations, served 25 million individuals, and had 300,000 trained listeners. The listeners serve in 180 countries in 140 languages.
 
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7 Cups

wayForward provides technology-supported behavioral health and emotional wellness services for employers planning to make services available to their employees. It uses a screening procedure designed by neuropsychologists to triage and help employee members get clinically relevant mental healthcare. The company provides a self-guided app, text-based coaching, video visits, telepsychiatry, and if required, in-person visits or an on-site counselor. wayForward leverages its evidence-based approach and artificial intelligence in delivering its services and claims that it has been able to reduce anxiety symptoms by 48% and depression symptoms by 59%.The company raised USD 2 million in a seed round in June 2020, which brought total funding to USD 4.5 million. DarioHealth, a chronic disease management platform based in Israel, signed a definitive agreement to acquire 100% of wayForward in May 2021 for a total consideration of USD 30 million. As of May 2021, the wayForward had approximately 20,000 members and was available in North America, Australia, and Europe.

wayForward

Coa is a mental health company that conducts online classes led by licensed therapists for mental health users. The classes focus on conditions such as stress, anxiety, confidence and relationships. The company raised USD 3 million in a seed round in October 2020 from investors led by Crosslink Capital.

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 Meru Health is an online platform that connects patients experiencing stress, depression, anxiety, burnout, and other mental health issues to licensed therapists. The company was founded by Kristian Ranta in 2016 after his older brother died from suicide after battling depression. The platform offers a 12-week program and personalized text-based coaching services and virtual workshops. Meru also provides access to progress reports and anonymous peer support groups as well as sleep, nutrition, and mindfulness advice on top of vital tracking information—such as heart rate data.
 
 
 The company reported a 10x YoY growth in its customer base in 2020 and plans to serve 10 million users by 2027. The company also achieved 8x YoY growth in revenue in 2020 amid an increase in demand in mental health services brought about by the Covid-19 pandemic.
 
 
 Key customers and partnerships
 
 
 In September 2022, Meru Health and clinical trial platform Curebase 
 <a href="https://sp-edge.com/updates/13230">
 announced a partnership
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 to carry out a three-year clinical trial to measure the effectiveness of Meru Health’s 12-week digital depression treatment targeting primary care patients. The study was funded by the National Institutes of Health’s Small Business Innovation Research program. 
 
 
 
 
 
 Fundings and financials
 
 
 In May 2022, the company secured a USD 2 million grant from the National Institute of Mental Health to measure the effectiveness of its 12-week program for treating primary care patients. The study will follow 300 patients across the US with symptoms of major depression for a period of three years.
 
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Meru Health

Online peer-to-peer platform and support system that connects mental health communities.

Mobile-based apps and FDA-approved software that incorporate evidenced-based cognitive behavioral therapy to prevent, treat, or manage mental and behavioral conditions in conjunction with or as a replacement for traditional medication.

Products for behavioral health and mental health tracking, measurement-based care, and real-time remote monitoring of patients.

Subscription or membership-based platforms and apps to connect therapists, psychiatrists or behavioral health coaches with patients.

Offers virtual offerings for mental health consultations

Mental healthcare services offer personalized care tailored to a user's needs and treatment progression

There are mental health providers offering services specifically to help LGBTQ+ or BIPOC individuals

Several mental health technology providers offer therapy services rendered by AI/ML technology

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 TalkLife, a company that offers P2P support tools, has garnered an investment from TELUS Ventures, the investing division of communications titan, TELUS. Information on the investment sum or the company worth is undisclosed.
 TalkLife aims to utilize the fresh funding to bolster its presence in the North American market, helping in escalating its operations, and further establishing its role as a leading provider in mental health support.
 
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TalkLife

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