Ex-Grab execs create pill to cure hangovers in Asia

The effects of a hangover appear quite early in Kingsley Amis’ Lucky Jim.

“Novelists go into the subject more deeply and extensively, but tend to straddle the target, either polishing off the hero’s hangover in a few sentences or so to speak, making it the whole of the novel,” the author said a couple of years ago.

Roy Ang, a former senior Grab executive who always loved a drink or two, is all too familiar with the effects of a hangover. A couple of drinks while closing deals and networking came within territory for him.

But the issue was staying clear and productive the next day. He sought for hangover cures in the region, but none were truly effective. He turned toward US-based products, but only a few were able to work their magic well.

In a bid to address hangovers, Ang, along with another former Grab executive Minghao Teoh, launched Bounceback to help Asian white-collar professionals get back up on their feet after a late night of drinking.

Photo credit: Bounceback

Launched in September, the Singapore-based firm’s anti-hangover pill is made of natural substances, with Dihydromyricetin (DHM) as its “hero ingredient.” Derived from the Japanese raisin tree, DHM helps metabolize alcohol faster by decreasing blood alcohol concentration and promoting alcohol clearance.

The pill is made of 22 vitamins, antioxidants, and herbal extracts, which replenish the depleted nutrients caused by drinking. It is currently priced at S$49.90 (US$36.43) in Singapore and 109 ringgit (US$25.80) in Malaysia.

While the product is available in Singapore, a pilot test is currently underway in Malaysia. The company aims to launch its product in 10 markets by the end of 2022.

Investors take a shot

In September, Bounceback raised an undisclosed sum in a seed round from investors including SparkLabs Ventures, Farquhar Ventures, Paragon Capital, and Bonjour Holdings.

(From left:) Bounceback founders Roy Ang and Minghao Teoh/Photo credit: Bounceback

The company is looking to raise another US$3 million in its pre-series A round by January 2022. It will use the funds to get approvals from various health regulators, complete its compliance process, and build its inventory.

Bounceback will also use the new capital to ramp up hiring in its firm to a total of 25 employees. The company currently has eight full-time employees.

Workday blues

Lessons from Grab