Chinese Mental Wellness Startup KnowYourself Secures Tens of Millions in Pre-B Round Led by Sherpa Capital

VCBeat has learned that on May 18, pan-psychology startup KnowYourself (hereinafter referred to as “KY”) announced the completion of a Pre-B financing round worth tens of millions of U.S. dollars, led by F-Prime Capital. The funds from this round will be primarily used to further strengthen the company’s business matrix.

It is reported that Zhiwo Exploration, founded in 2016, has become an influential pan-psychological lifestyle brand in China, advocating a lifestyle of “caring for the self and inner world, and leading physical and mental well-being.” Through high-quality content and professional products, it has amassed over ten million users across media platforms, establishing a multidimensional business matrix that includes new media, the Moonlight APP (an innovative psychological self-help tool), urban mindfulness meditation centers, and mutual support communities.

KY advocates a new concept of health across society—shifting from traditional physical well-being to holistic mind-body health—and is committed to making the pursuit of mental wellness a popular lifestyle akin to fitness, thereby empowering every individual to care for their self and inner world, ultimately attaining freedom and happiness.

According to the “Global Mental Health Value Trends Report 2016–2020” recently released by VCBeat, the global digital mental health sector has seen vigorous development over the past five years. Among the earlier-established companies, a number have matured their business models, while emerging startups and innovative business models continue to proliferate. This trend is driven by the fact that the digital mental health segment in China remains a blue ocean with substantial market opportunities.

In terms of policy, publicly available data show that since January 2020, there have been 15 policies related to mental health, eight of which were associated with the COVID-19 pandemic. This indicates that policymakers have placed significant emphasis on the mental health industry, particularly in the post-pandemic era, thereby fostering its development.

Regarding this round of financing, Qian Zhuang, Founder and CEO of Zhiwo Exploration, stated: “Over the past year, we have accelerated our transformation and fully committed to digital innovation in mental health services. Our ‘Daily Practice’ product, benchmarked against Keep, enables users to achieve specific psychological well-being goals—such as alleviating anxiety, improving sleep quality, recovering from breakups, and boosting self-esteem—by following 15–20 minutes of guided, self-directed exercises at home via our app. Since its launch, the product has been used by 200,000 individuals. Pre- and post-intervention data demonstrate significant efficacy, with a satisfaction rate as high as 95%. In the coming year, we will further deepen our innovations by promoting online lightweight psychological counseling services powered by the KnowYourself database, while comprehensively launching our ‘New Meditation’ brand tailored to urban trendy lifestyles. Moving forward, we will remain true to our original aspiration and keep our mission firmly in mind, providing users with standardized, affordable, engaging, and lightweight digital psychological tools and services.”

Lin Rui, Senior Partner at FSD Capital, stated, “We are honored to become an investor and long-term partner of KnowYourself, supporting the company’s future growth. FSD Capital has long focused on the field of mental health in China. We recognize the substantial demand in this area; however, the industry remains in its early stages and requires innovative business models to achieve breakthroughs. Under the relentless exploration of Ms. Qian Zhuang and her team, KY has continuously developed a series of engaging and effective products, establishing a unique brand centered on a mental wellness lifestyle. With the support of FSD Capital’s robust global resource network, we aim to help and witness KY emerge as a leading enterprise in China’s mental health sector.”

Currently, KY has become one of the fastest-growing companies in the field of psychology. In 2021, its app “Yueshi” (Eclipse) added a meditation section, launching nearly 200 self-developed meditation audio tracks to provide users with a scientific, professional, relaxing, and engaging meditation experience. Following its launch, the “Psychology Encyclopedia” mini-program achieved monthly user growth exceeding 200,000. Meanwhile, various offline activities and mutual-support communities have developed rapidly. KY’s “Zhiwo Exploration Tea Party” has been held in nine cities across China and at multiple universities. The Urban Cultivation Psychological Meditation Studio offers nearly 10 types of meditation courses and more than 20 themed psychological workshops, while regularly hosting “All-Day Party” events that attract numerous users concerned about physical and mental health as well as quality of life.