IT company Mitgo made an investment into mindfulness, meditation, and sleep quality mobile app Practico.
The company, based in Miami Lakes, FL, intends to use the funds for product development and business scaling.
Practico’s founders, Anton Shayakhov, Dima Afonin, and Daniel Kosinsky, developed the app in 2019, achieving 300K downloads and 20K subscriptions. In 2022, they decided to combine mental-health apps and mobile gaming, incentivizing participation and rewarding progress.
Led by Alexander Bachmann, CEO, Mitgo brings its startup development experience and venture capital network to attract additional investments and accelerate the project. “Urso”, The US version of Practice app, “Urso”, which is expected to roll out by the end of Q2, 2023, supported by Mitgo’s Chicago office, aims to offer self-care tools and techniques. Users are guided along this path by virtual characters who introduce them to digital worlds, leading them through various aspects of mindfulness and rewarding achievements.
Mitgo’s investment in Practico is part of a massive $100m investment plan aimed for completion by 2025. The capital will be spent on developing regional infrastructure and businesses, with a significant portion dedicated to investments in promising projects like Practico.
FinSMEs
15/05/2023