Malaysian digital health app Naluri banks $1.1m in pre-series A money

Malaysian digital health startup Naluri said it has raised US$1.1 million after completing another pre-series A round, following its US$1.5 million raise in July last year.

The new injection was led by Malaysia’s Duopharma Biotech, M Venture Partners from Singapore, RHL Ventures from Kuala Lumpur, and other local and international private investors, according to a statement.

The Naluri team / Photo credit: Naluri

Through its app, Naluri combines behavioral science, data science, and digital design to offer health coaching and psychological support. It assigns personal health experts to users battling or at risk of chronic conditions such as diabetes and cardiovascular diseases, or chronic depression, anxiety, and stress.

It plans to use the fresh capital to extend its runway to at least 12 to 15 months as it gears up for its series A round. Jeremy Ting, president and co-founder of Naluri, said the company has already gained strong interest from investors for its next round, and it wants “to be able to demonstrate continued growth domestically and regionally.”

The latest investment comes at a time when digital health solutions are seeing increased traction, as healthcare providers are overwhelmed by rising Covid-19 cases. Naluri CEO and co-founder Azran Osman-Rani also said that the startup has seen a “significant” increase in cases of mental health complications, such as stress, anxiety, and depression, due to the ongoing pandemic.

Another startup that has seen an uptick in activity in its platform is Singapore-based teleheath provider Doctor Anywhere. In a statement announcing the company’s recent US$27 million series B raise, CEO Lim Wai Mun said that the business has experienced a two- to threefold jump in growth since the Covid-19 outbreak started.