Aktivolabs scores US$10 million capital commitment from Mitsui to fuel global expansion
- Written by The Bulletin
Global finance, trading and technology conglomerate add a next-generation data-science platform with health, nutrition, and mental health verticals eying expansion in APAC, Europe and the US to its investment portfolio.
SINGAPORE - Media OutReach - 15 December 2022 - Aktivolabs Pte Ltd ("Aktivolabs") announced today that it has secured a US$10 million capital injection for a Series A round led by Mitsui & Co., Ltd. ("Mitsui"), Adaptive Capital Partners and SEEDS Capital, the investment arm of Enterprise Singapore. The funds will be utilized to grow its data science capability, strengthen the existing team and portfolio of products and broaden its footprint in SEA, Europe and the US. The current product portfolio includes the Aktivo Score®, Aktivo® Mind, Glucolife and Goodbiome. HH Investments and Govin Capital have also participated in this round.
Cofounded by the late Professor David Lai, Gourab Mukherjee and Dr Meng-Han Kuok, Aktivolabs is a digital health-science company founded in 2017. It provides sustainable, evidence-based, individualized digital health solutions that help populations understand and manage their risk of chronic diseases. The platform harnesses real-time digital health data elements in a low-touch, cost-effective manner with measurable actuarial and actionable value to life and health insurers.
"It's commonly known that the early onset of chronic diseases compromises our financial and mental well-being and the fast-rising cost of healthcare poses major challenges for populations, governments, insurers and employers worldwide. At the intersection of healthcare, science and data, Aktivolabs' evidence-based solution deploys its full suite of accessible, affordable, scalable data-scientific solutions through digital biomarkers and individualized health journeys," says Takeshi Akutsu, Chief Operating Officer of Wellness Business Unit, Mitsui & Co., Ltd.
"The team has delivered strong execution aligned with their vision of extending the healthspan for the populations. We are convinced that the combination of Aktivolabs' vertically-integrated data-science platform, the strong execution capability of the team, along with the competitive data-analysis and -commercialization capability will prove a winning formula. We are thrilled to join Aktivolabs on its journey to deliver scalable health data-scientific solutions worldwide," Akutsu adds.
This investment will fuel Aktivolabs' continued growth in its existing verticals, expanding geographical territories and client servicing capabilities. In addition, Aktivolabs will also utilize part of the funds to develop the existing algorithm and data-analytics program to enhance the efficiency and accuracy of predicting, preventing and self-management of chronic disease using digital biomarkers.
"Mitsui's commitment to our win-win partnership is a recognition of our strength and is built on our shared belief in leveraging digital health sciences to solve a prevalent issue that's been plaguing corporate employers, payors, providers, and governments for many years. This investment will enable us to deliver an integrated platform to exacting standards, strengthen our customer-servicing capability, and help populations better understand and manage their risk of chronic diseases through individualizing digital health journeys. We are committed as ever to enabling healthier and happier lives with tools that are affordable and easy to use. We look forward to partnering with Mitsui on this journey" says Gourab Mukherjee, Co-Founder & CEO of Aktivolabs.
The issuer is solely responsible for the content of this announcement.
About Aktivolabs
Aktivolabs is a digital health-science company founded in 2017. It provides accessible, affordable, evidence-based, and individualised digital health solutions that help populations understand and manage their risk of chronic diseases. The platform harnesses real-time digital health data elements in a low-touch, cost-effective manner with measurable actuarial and actionable value to life and health insurers. It functions as a real-time action decision engine to drive hyper-personalised financial and insurance product development, generates pay-as-you-live insurance products and provides deeper customer experience tailored to client engagement through its proprietary experiential technology.
Aktivolabs currently operates in Singapore, Hong Kong, India, Japan, Australia, Philippines, Taiwan, Malaysia, Indonesia, Vietnam, Thailand, Macau and the UAE and is growing worldwide.
To learn more, please visit the website www.aktivolabs.com.
About Mitsui.
Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries and regions in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world's main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world's fastest-growing region and strengthens its international portfolio. For more information, please visit https://www.mitsui.com/.
About SEEDS
As the investment arm of Enterprise Singapore, SEEDS Capital catalyzes smart monies into Singapore-based early-stage technology startups. We co-invest with institutional investors in innovative startups with strong intellectual content and global market potential. We focus on nascent and strategic industries such as Advanced Manufacturing & Engineering, Health & Biomedical Sciences and Urban Solutions & Sustainability and other emerging technologies such as Agri-tech, Artificial Intelligence, Blockchain, Quantum Computing and Space Technologies. Post-investment, we leverage Enterprise Singapore's networks across industries and global overseas centers to support the growth of our portfolio companies. Today, we have over 100 startups in our portfolio and we work with more than 40 co-investment partners. For more information, please visit https://www.enterprisesg.gov.sg
About Adaptive Capital Partners
Adaptive Evergreen fund invests in innovative and disruptive technology startups with a primary focus on healthcare technology, consumer tech and fintech. Adaptive is on a mission to support exceptional companies and founders in their entrepreneurial journey, and the solid growth of the startups ecosystem in Singapore and Asia Pacific ("APAC"). We believe that venture capital is not just about numbers. It is about how well you understand the startups and create value for them. We are here as enablers to support entrepreneurs in their exceptional journey.
