3 days ago
Naluri secures US$5 million funding to power expansion into Philippines, Vietnam
[KUALA LUMPUR] Singapore-based digital health and employee well-being services provider Naluri has completed a US$5 million Series B equity fundraising round, setting the stage for a push into the Philippines and Vietnam.
The latest round was led by Telus Global Ventures – through its impact-focused Pollinator Fund for Good – alongside existing investors Sumitomo Corporation Equity Asia, M Venture Partners and others.
With this new funding, Naluri's total Series B proceeds now stand at US$14 million. The company is aiming to become profitable within a year.
Group chief executive officer and co-founder Azran Osman-Rani said the fresh capital will fund working capital and market expansion, as the company looks to extend its reach from Malaysia and Indonesia to other high-growth Asian economies.
'We are deeply honoured to have won the trust of our investors to scale this business model and reach the one million lives covered milestone,' Azran said in a statement.
From low-cost flights to digital health
Azran is no stranger to scaling disruptive businesses. As the founding CEO of AirAsia X in 2007, he pioneered the world's first low-cost, long-haul airline, steering it from a startup to roughly US$1 billion in revenue, 2,500 employees and a public-listing in six years.
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He co-founded Naluri in March 2017 to tackle a different challenge: making mental and physical health coaching more accessible and affordable in South-east Asia.
The platform integrates digital therapeutics, behavioural science and a multidisciplinary coaching model to address chronic diseases, mental health and preventive health needs.
Its services are delivered through partnerships with insurers, corporates and healthcare providers, targeting both improved employee well-being and lower long-term medical costs.
Established regional presence
Naluri says it has built a leadership position in Malaysia and Indonesia's employee well-being markets, and counts blue-chip enterprises from banking, insurance, energy and transport among its clients.
Its programmes go beyond mental health counselling, combining preventive behavioural health, chronic disease management, health screenings and assessments, promotional campaigns, multidisciplinary health coaching, consultations and 24/7 crisis support lines.
The approach has secured contracts with pan-Asian and multinational companies, and facilitated expansions into Singapore and Thailand. The next phase of growth will focus on the Philippines and Vietnam.
The investment marks a strategic alignment with Telus Health, which has also signed a commercial partnership with Naluri to support its Employee Assistance Programme clients across eight markets in the region.
Telus Global Ventures managing partner Terry Doyle said the deal reflects both the commercial and social impact potential of the business.
'Our investment in Naluri allows us to expand our footprint in South-east Asia while also demonstrating Telus' strategic commitment to leading the evolution of workplace mental health solutions globally,' Doyle said.
