Indico Capital Partners is the leading independent Venture Capital firm in Portugal investing in global technology companies. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Seed to Series A level. Founded in 2017, the team at Indico were previously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs. Headed by the two most senior former Caixa Capital VC Team members, supported by a successful and experienced entrepreneur and a strong group of advisors, top entrepreneurs, they raised our first fund (authorized by the Portuguese Securities Market Commission - CMVM) from a cornerstone institutional investor (EIF) and international family/multi-family offices from Europe, US, and Australia. In addition to Silicon Valley, London, and Berlin, cities like Lisbon have emerging startup ecosystems. Portugal went through a difficult macro environment years ago which led to a growth in the entrepreneurship culture and investment. We have excellent tech graduates and a global mindset. Highly innovative companies like luxury eCommerce platform Farfetch, YC graduate machine learning translation platform Unbabel or the leading student accommodation marketplace Uniplaces have a strong Portuguese DNA and went to raise international rounds in the UK and the US - we want to back the next success stories of the ecosystem.

Indico Capital Partners

All Iron Ventures partners up with bold founders promoting innovative startups. We mainly invest in the early stages of European companies that aspire to reshape the future of both consumers and enterprises through technology.  We at All Iron Ventures have been and continue to be entrepreneurs. We know what it is to be a founder and empathize with the challenges our partner founders face.  We put our resources and experience creating, scaling and selling companies at their disposal to help them take their projects to the next level.  Based in Bilbao, Spain, and with approximately €110Mn under management, All Iron Ventures was promoted by the founders of Ticketbis, a global marketplace sold to eBay in 2016, in what is one of the main success stories in Spain’s startup ecosystem.

All Iron Ventures

200M is a Portuguese public fund of 200 million euros designed to co-invest with the best VCs from around the world in startups which are growing their business out of Portugal.

200M

IKJ Capital is a venture capital firm based in São Paulo and Palo Alto. We invest in early stage healthcare startups.

IKJ Capital

An Operator Early Stage VC we offer an unique entrepreneur-turned-into-investor point-of-view. We have seen bottlenecks and roadblocks before, and we know how to go around them

Airborne Ventures

GKVentures is an investment partnership that was created to apply knowledge, talent and resources in service of companies and entrepreneurs that are tackling Brazil’s most relevant problems.  We're currently focused on solutions to the gap between formal education and employability.

GK Ventures

SK Tarpon create and invest in perennial businesses that leave a legacy for the next generations.

SK Tarpon

Zenklub

Zenklub is the place where everyone can challenge themselves to live better. Its mission is to change the way people see and devote their time to caring for their own emotional well-being.

<div><p>Zenklub is a Brazilian telepsychiatry provider that offers personalized content, training tools, and access to more than 800 independent coaches, psychologists, and therapists. </p></div>

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

Mental Health Tech

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  <p>
    Zenklub is a Brazilian telepsychiatry provider that offers personalized content, training tools, and access to more than 800 independent coaches, psychologists, and therapists. 
  </p>
  <p>
    Individuals can access Zenklub’s services via a mobile app that is available on Apple and Google app stores. Users can choose between a BRL 99 per year (USD 18) membership plan or a one-off consultation fee based on the practitioner. The company’s client base grew 515% YoY from 2019 to 2020 due to the Covid-19 pandemic, with nearly 50,000 online appointments per month. The company also caters to the B2B market, working with more than 300 corporate clients and 500,000 employees as of March 2022. 
  </p>
  <p>
    As of February 2021, the company was pursuing expansion across South America and concluded a Series A funding round that brought total funding to USD 11.9 million.
  </p>
</div>


<div>
  <p>
    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.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    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.
  </p>
</div>


Boulder Care

<div>
  <p>
    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).
  </p>
  <p>
    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.
  </p>
</div>


7 Cups

<div>
  <p>
    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%.
  </p>
  <p>
    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. 
  </p>
  <p>
  </p>
</div>


wayForward

<div>
  <p>
    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.
  </p>
</div>


<div>
  <p>
    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.
  </p>
  <p>
    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.
  </p>
  <p>
    <b>Key customers and partnerships</b>
  </p>
  <p>
    In September 2022, Meru Health and clinical trial platform Curebase 
    <a href="https://sp-edge.com/updates/13230">
      announced a partnership
    </a>
     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. 
  </p>
  <p>
    <b></b>
  </p>
  <p>
    <b>Fundings and financials</b>
  </p>
  <p>
    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.
  </p>
</div>


Meru Health

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

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

Zenklub

Mental Health Tech

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