Mitgo Invests in Practico, Meditation App
Practico Boosts Mindfulness and Wellbeing with Investment in its “Urso” App.
Leading IT company Mitgo, which creates and invests in platforms for publishers & advertisers, has recently announced a strategic investment in Practico, a mobile app focused on mindfulness, meditation, and improving sleep quality. This collaboration aims to bring a revolutionary experience to users in the form of “Urso,” the US version of the app set to launch by the end of Q2, 2023. Supported by Mitgo’s Chicago office, this partnership combines the expertise of both companies to create a groundbreaking solution.
Addressing the Growing Demand for Mindfulness and Meditation
The mindfulness and meditation market has been witnessing remarkable growth, with revenues projected to reach $17.5 billion USD by 2030. Recognizing this trend, Practico’s founders, Anton Shayakhov, Dima Afonin, and Daniel Kosinsky, developed the app in 2019, garnering an impressive 300,000 downloads and 20,000 subscriptions. As they sought to expand their reach to the US market, they encountered intense competition and oversaturation. To differentiate themselves, they embraced the concept of gamification.
Introducing Gamification to Enhance User Engagement
In 2022, Practico’s visionary founders decided to merge mental health apps with mobile gaming, creating a unique incentive-driven experience that rewards user participation and progress. This ambitious vision required a comprehensive rebuild of the app, prompting collaboration with Mitgo. As an investment partner, Mitgo brings extensive startup development experience and a robust venture capital network, facilitating product development and business scaling.
Anton Shayakhov, co-founder and CEO of Practico, explained their distinctive approach, stating, “We want to revolutionize the market by offering an app that truly engages users. Our planned pivot involves introducing abundant gamification, captivating 3D graphics, and a plethora of new features. With the infusion of new investments, we will expand our team and launch an application that will transform the mindfulness landscape. This app will demonstrate that even non-gaming practices like meditation can be genuinely exciting. Users will experience tangible progress in their self-awareness and, most importantly, find happiness.”
The Path to Self-Improvement with Urso
Mitgo’s involvement in Practico’s venture goes beyond financial backing. Leveraging its expertise and resources, Mitgo aims to attract additional investments and expedite the project’s progress. The forthcoming app, “Urso,” is designed to guide users on a transformative journey toward becoming their best selves. By providing an array of self-care tools and techniques, Urso empowers individuals to enhance their overall well-being.
Virtual Characters and Digital Worlds Unveil the Power of Mindfulness
Urso employs an innovative approach, employing virtual characters that guide users through various aspects of mindfulness within immersive digital environments. Users will be introduced to captivating digital worlds that present new perspectives and teachings while rewarding achievements and personal growth along the way. The app’s Tamagotchi-like approach appeals to users’ natural instincts to nurture their digital avatar’s well-being, fostering engagement and motivation.
Alexander Bachmann, CEO of Mitgo, emphasized their belief in innovative products with substantial business potential, stating, “Practico’s new app has the potential to be a game-changer, simplifying the process of understanding, downloading, using, and benefiting from mindfulness practices. We are thrilled to support this exciting project.”
Investing in a Brighter Future
Mitgo’s investment in Practico is part of their ambitious $100 million investment plan set to be realized by 2025. This substantial capital will be allocated toward developing regional infrastructure and supporting promising projects like Practico, ultimately enhancing users’ lives and contributing to the advancement of well-being and mindfulness practices.