Back

BCCL’s Times Bridge bets on US-based meditation startup Headspace

News

BCCL’s Times Bridge bets on US-based meditation startup Headspace

Headspace Inc., which runs an online meditation and mental health platform, has raised $93 million (approximately Rs 664.51 crore at current exchange rates) in mixed equity and debt funding round.

The equity portion of the Series C round, comprising $53 million, was led by Blisce, the US-based growth stage venture firm. Others that participated in the round include Waverley Capital and Times Bridge, the investments and partnerships arm of Bennett Coleman and Co. Ltd’s Times Group.

Existing investors The Chernin Group, Spectrum Equity and Advancit Capital also participated in the round, Headspace said in a statement.

California-based Headspace has secured the remaining $40 million in the form of debt capital from US-based Pacific Western Bank, a commercial institution.

The startup says it will use the funds to boost its direct-to-consumer business, enhance its business-to-business segment, Headspace for Work and accelerate its growth in international markets.

Read more