Namita Thapar reveals how her Shark Tank India Season 2 bet hit a Rs 15 crore revenue peak

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What is MindPeers?

Founded by Kanika Agarwal in January 2020 in New Delhi, MindPeers is a platform that matches people with specialised, qualified therapists. Over the years, it has also integrated AI into its work, combining AI agents with mental health professionals to provide a full suite of measurable, personalised mental health care.

During her appearance on Shark Tank India, Kanika revealed that the company’s revenue in October 2022 was Rs 16.5 lakh and asked for Rs 53 lakh for 1 per cent equity.

Mentioning that she started a company called PassionPeers in 2017, Kanika shared that the firm’s revenue reached USD 12 million (approximately Rs 90 crore) in two years. However, the pressure of being a founder became overwhelming, leading her to experience anxiety attacks and develop a fear of failure. In 2019, she struck a deal with another company that acqui-hired her firm. At 27, she exited the company she founded with USD 1.1 million (Rs 8.25 crore) and eventually started MindPeers.

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How much did MindPeers get from Shark Tank India?

As the discussions progressed, ‘shark’ Anupam Mittal opted out, but the other four investors made offers to MindPeers. Kanika and MindPeers’ co-founder Shail Chitkara struck a deal with the remaining ‘sharks’ at Rs 1.06 crore for 2 per cent equity, with Rs 53 lakh from Peyush Bansal for 1 per cent equity and the remaining Rs 53 lakh combined from Aman Gupta, Namita Thapar, and Vineeta Singh for 1 per cent equity.

MindPeers has since grown and generated Rs 15 crore in revenue over the course of one financial year recently. Expressing her happiness over MindPeers’ phenomenal growth and her decision to invest in the company, Namita wrote on X (formerly Twitter), “Met my Season 2 founder Kanika today. Kanika’s company Mindpeers helps with mental health. I’m so proud of this Shark Tank investment.”

She continued, “But we have moved beyond just an inventor-founder relationship. She’s now a dear friend who has been working with me on my personal passion project — to train and place the right mental health counsellors in government schools that don’t have this expertise. We have started with Pune schools — observing, learning, and adapting. It’s my dream that every school and every child in India should have access to trained mental health therapists! It’s a critical need.” Namita added, “Even prouder that Mindpeers, born in India, but now has entered global markets with their AI mental health intelligence and made Rs 15 crore in revenue last FY.”