British International Investment

Touchkin eServices Private Limited

South AsiaCommunications & IT services

Wysa is is an AI-powered mental health app that has been shown to help improve mental health. It uses AI to deliver clinical grade digital therapeutics along with human support and is used by 4 million users globally across 65 countries.

Our investment

Description of the investment.

Our investment will help support the growth of this innovative AI-driven mental health application. The investment aims to significantly improve health outcomes at low cost, in developing countries where access is either limited or unaffordable.

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.

What?

Impact

Improved health outcomes through the promotion of mental health and wellbeing (SDG target 3.4) via increased access to mental health support.

How?

Primary Secondary

Support further expansion of Wysa, including building out the tech platform and offering additional languages (Hindi, French, Arabic) to grow reach.

Demonstrate how high quality mental health support can be delivered at scale and low cost through innovative technology, particularly in developing markets where provision of these health challenges are largely unaddressed.

Who?

Stakeholder Geography Characteristics
Individuals and employees

Global – currently half of 4 million users in BII geographies, with significant estimated proportion of user base expected in India

Women constituted 55 per cent of the user base and approximately half of users are under 25 years old. The low-cost and scalable operating model offers the potential to reach rural areas and low-income customers for whom traditional models are unviable.

How much?

Scale Depth/Duration

Currently has approximately 4 million users globally. Expansion plans expect to achieve 4 times existing users, with more than approximately 6 million in BII's geographies.

Expected to be significant. Among employees, Wysa has observed clinically significant improvements of 30-40 per cent in depression and 27-40 per cent in anxiety. Peer reviewed studies have independently corroborated this positive impact.

Contribution/additionality

Contribution/additionality
  • Financial additionality: The commercial market does not offer capital in sufficient quantities to meet the company's need.
  • Value additionality: Our value-add will be to support the company on 2X qualification, and to support the company for market entry into other geographies where we invest.

Risk

Execution Risk
  • to deliver the intended scale of impact, Wysa will need to successfully roll out its platform in local languages (and tailored to local cultures) to ensure usability and ongoing user engagement.

Impact score

Impact score (at point of investment)

The Impact Score is a tool to help us manage our performance against our strategic impact objectives. It is designed to incentivise investments that support our productive, sustainable, and inclusive objectives. You can find out more here.

The Impact Score is published for investments made from 2022 onwards. The Impact Scores are calculated at the point of investment. We publish the Impact Scores of new investments annually, once the information has been externally assured by an independent third party.

2

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.

  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We partnered with our fund manager to co-invest in this company, including by relying on our fund manager's ESDD. BII developed an environmental and social action plan with the investee, including developing an ESMS and mitigation measures associated with labour and working conditions, a grievance mechanism, and occupational health and safety.

Environmental and social risk

Low

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D5651
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    South Asia
    Country

    The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.

    :
    Africa, Europe, India, Indonesia, Latin America and the Caribbean, Malaysia, Philippines, US & Canada
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Communications & IT services

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Equity
    Start date :
    June 2022
    Amount :
    $1.93m
    Currency of investment :
    INR
    Domicile

    The company or investment fund’s place of incorporation.

    :
    India
    2X Gender Finance

    Indicates whether the investment is ‘2X qualified’ using the 2X Challenge criteria. You can find out more here. It only applies to investments made from 2018 onwards, when the 2X Challenge was first launched.

    :
    Fully qualified

Subscribe to receive our latest news and updates