Solution to retain women in the workplace through meditation & peer2peer support. Made by women for women
|Sectors||Healthcare Digital B2B|
|Incorporation date||17 Feb 2021|
- Prestige Meditation App of the Year '21/'22 Award
- KPMG, Mondelez & Nike among first clients
- 85% of users feel better after meditating with the Silatha App
- Sifted: startup to watch in Mental health industry
Women play a crucial role in a successful workplace, but since the pandemic, businesses have repeatedly struggled to retain their female employees. Women leaving the workplace can have significant financial costs for a business, and therefore companies have set aside budgets to beat the gender bias.
Silatha is tapping in to this need. We have developed a meditation & community program app in order to support companies in creating a healthy environment for women, by addressing the unique mental needs of women during pregnancy, motherhood, female leadership, menopause and more. We aim to provide women with the tools to effectively deal with their personal and professional challenges, so that they are able perform better and stay in the workplace.
Substantial accomplishments to date
AWARDS AND MENTIONS:
- Silatha received the Prestige Meditation App of the Year Award
- Mentioned by Sifted (from the Financial Times) as startup to watch in the mental health industry
- Mentioned in 20+ world-renowned magazines like ELLE, Harper's Bazaar, Women's Health (one of 20 best Mental Health Apps), Grazia, Marie Claire and many more
- We built an app with over 500 meditation sessions addressing key women topics including pregnancy, motherhood, post-natal depression, miscarriage and menopause to specifically support women in their mental well-being
- 85% of our users feel better after using the Silatha app
- AI coding for the S.O.S. meditations prepared for easy translation to other languages. More AI to be developed with next app development
- Women feel 40% better on average after one meditation
- 4.8 out of 5 star rating in Apple App store worldwide
CLIENTS AND USERS:
- We can count KPMG, Nike, GE and Mondelez as our first clients
- In advanced discussions with many other multinationals
- Grown to over 70K downloads in just a few months
The market opportunity is immense, and we estimate that 6.7T$ is spent by companies on well-being a year.
A company will pay €500 for each of their employees that participate in the Silatha program, which is spread over 6 months.
For each topic (menopause, female leadership, etc) we create a specific pillar, with est. 20 employees in each pillar.
Per company we aim to work on 3 to 4 pillars at a time, with a view to increasing this in the future. Companies pay upfront for the year and we aim to run 2 programs per pillar per year.
Businesses will also be able to add the Silatha app for all their female employees for a reduced price per employee (€1 - €2.50 depending on the number of employees).
Next to our main business model, we want to partner with big brands that stand for women empowerment to create awareness around the Silatha app and generate additional revenue with the subscriptions.
Use of proceeds
With this raise we want to:
- Further develop the app with more community features
- Add AI to offer the best guidance to the community
- Hire a sales and community manager
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Please note that the share price for this round is €140.00. Due to this high share price, we have decided to allow investors to hold fractional shares. This means that we have reduced the investment multiple to €14.00 (representing 1/10th of a share), with the minimum investment being €14.00.
As these shares will be held via the Seedrs Nominee, fractional entitlements are possible.
One of Silatha’s existing shareholders, ExpertDojo, has a warrant to invest up to $1,000,000 at a valuation cap of $10,000,000 in return for Class B Shares.
This warrant can be exercised during a funding round.
The agreement terminates either;
- at the longstop date of 06/08/2024, or;
- once the company exceeds a valuation of $25,000,000.
They have not currently exercised this right.
Silatha has three share classes.
Class A Shares are held by the founder and have voting rights.
Class B Shares, which have voting rights.
Class C Shares, which do not have voting rights.
Investors in this round will be receiving B Shares.
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