In view of this, The Hive Southeast Asia, along with Penjana Kapital - a wholly owned subsidiary of Malaysias Ministry of Finance - through the latters Dana Penjana Nasional programme, is proud to partner with ThoughtFull to future proof the delivery of mental healthcare in Malaysia and beyond.. The company has secured $13m of funding since its launch in . We wish all of our fellow Christian brothers and s, We speak to @shaneyanshiyan of @growthbeans to lea, Prioritising your energy is key to keeping your me, @muniramuhris of @helpherdobetter, a social enterp, Ever wondered why some health problems keep recurr, Top 10 Fathers Day Experiences and Gifts, FEMMES FIRST: SGs first female-focused blended cycling event, Inaugural Womens Wellness Festival at AIBI Maxwell: Empowering women through health and fitness, Ms Antoinette Patterson, Founder and CEO of Safe Space, Projects and Products That Celebrate Earth Day. Asia is home to some of the worlds most overworked countries. It also partners with insurers and benefits brokers like Mercer. Singapore's Mental Health Startup Intellect Raises $10 Million In As a startup ourselves, we understand the challenges faced by our fellow startup founders to upkeep their mental health whilst building a business. What is Mental Wellness. Headspace and Ginger are merging to form Headspace Health, Mental health startups are raising spirits and venture capital. Hive Life Magazine is the leading voice for entrepreneurs and startups in the Asia Pacific. A March report from the World Health Organization found that the Covid-19 pandemic has triggered a 25% increase in depression and anxiety worldwide. Get the latest scoop on tech and business in Southeast Asia straight to your email. In the first half of the year, two Singapore-based mental health startups drew investments to accelerate their expansions across APAC. Depression and anxiety were taking a serious toll on peoples' well-being even before COVID-19, and the pandemic prompted more interest (and venture capital) in mental health startups. Members can take the first step forward by signing up for the Startup Mental Wellness Pledge a statement that affirms that your startup is committed to implementing a practical and effective mental wellness policy. Intellect, the Singapore-based mental health startup focused primarily on Asia-Pacific markets, announced today it has raised a $10 million Series A. Singapore-based mental health startup ThoughtFull announced Thursday it raised $4 million in a pre-Series A funding round led by Sheares Healthcare Group, owned by the city-state's. Taking up a business-to-business-to-consumer model (B2B2C), it works in alignment with various companies to offer their services as an employee benefit. Pandemic blues drive demand for mental health apps in Singapore Its SEA-based and available in Singapore, Malaysia and the Philippines. Singapore-based Intellect has raised an additional $10 million in a Series A extension led by Tiger Global, doubling the total for the investment round to $20 million, which will be used to. With the insights from the whitepaper, we have structured a startup package to ensure companies of all sizes have access to affordable mental healthcare Says Ms Antoinette Patterson, Founder and CEO of Safe Space. Next, local healthcare systems in Asia arent standardized from care, delivery and research models. The report covers the key triggers of . In 2019, he was diagnosed with generalized anxiety disorder, which is chronic and excessive worrying. Our flagship report on the mental health of startup founders in Singapore has shone a light on the mental health impact that starting up a company has on founders and their teams. (So thats why foreign companies rarely make big entries in the space). Working at a startup can be more stressful because of the breakneck growth, and retaining top talent is a growing priority for startups, he adds. Widespread emotional burnout, brought on by overwork and exacerbated by the pandemic, has forced employers to accept that mental health cannot be ignored in the workplace. MindFi is another Singapore-based start-up that has seen a boom in demand, as COVID-19 drew greater attention to mental health issues and also spurred the digitisation of healthcare. You need to have that additional layer of finding what factors the users are looking forso thats where we come in.. S'pore mental health startup Intellect raises US$10M in Series A round to fuel Asia expansion. App by local mental health start-up encourages people to share their If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. Intellect, a Singapore-based startup that wants to make mental health care more accessible in Asia, announced it has raised $2.2 million in pre-Series A funding. During the registration process, users fill out a form detailing what stresses them out most often, and based on their responses, they will be paired with a practitioner who specializes in those issues. Given that cities across Asia have different requirements for what constitutes a mental health counselor, Ami works around potential discrepancies by specifying their practitioners are coaches on their platform. Providing stigma-free and accessible mental health support across the globe, Intellect, a mental health startup established in Singapore, expanded its Series A funding round to raise a total of US$20 million, after procuring an additional US$10 million, led by Tiger Global. A number of notable angel investors also participated in the round, including Khosla Ventures operating partner Irene Au and her husband, Bradley Horowitz, Googles vice president of product. ThoughtFull marks Sheares first investment in mental healthcare in Asia. How we think, feel and act is influenced by our mental health. Intellect claims its year-on-year revenue grew by over 20x in 2021, due in large part to new enterprise clients like foodpanda, Shopback, Singtel, Kuehne & Nagel and Schroders. Kim, together with cofounder Beknazar Abdikamalov, launched Ami in beta mode earlier this month. While we do have those licenses and certifications, thats not the only thing that constitutes a good experience, Kim says. In many Asian cultures, there is still a lot of stigma around mental health issues, but that has changed over the last year and a half as people continue to cope with the emotional impact of the COVID-19 pandemic, Chew said. At the end of the day, Ami seeks to make tangible improvements to employee well-being, where other wellness solutions provided by companies are underutilized or miss the mark. Jun 1, 2023, 9:00 PM SGT SINGAPORE - A new app that allows people facing mental health issues to support one another has been gaining popularity since its launch a week ago. I write about Asia's richest people and up-and-coming entrepreneurs. Mothercare X PanAsia Surgery: Will Varicose Veins Go Away After Pregnancy? The report found that the four common themes of difficulty faced by startup founders are Uncertainty, Managing Relationships, Working Alone, and Slow Progress, with top stressors being Challenging Business Environment (62%), Company Cash Flow Issues (35%), and Long Working Hours (34%). Theodoric Chewwho was featured in this years Forbes 30 Under 30 list for Asiafounded Intellect in 2019 as a digital platform for mental wellness that connects people to therapists online. Save my name, email, and website in this browser for the next time I comment. SEA is home to one-fourth of the globes population, but it accounts for. Our goal is to make mental healthcare as easy as checking the weather and as comfortable as talking to a friend.. Were choosing to focus on fast-growing startups because the employee base is younger and theyre much more open to wellness and emotional health, says Kim. Based on their trial runs, Ami found on average at least 40% of employees used the platform after two months, while Kim says existing solutions in the mental health space rank in the low single digits in terms of employee adoption. After working at some of the fastest-growing startups in South Korea, Justin Kim, a Forbes 30 Under 30 Asia alum from 2020, launched his own startup that aims to make mental healthcare more accessible for the overworked and stressed-out workers in Asia. Joining Meta in the funding round are existing investors Goodwater Capital (which has backed Kakao, Coupang and Viva Republica), Strong Ventures, January Capital and Collaborative Fund. To access the full whitepaper report, please click here. The report found that the four common themes of difficulty faced by startup founders are Uncertainty, Managing Relationships, Working Alone, and Slow Progress, with top stressors being Challenging Business Environment (62%), Company Cash Flow Issues (35%), and Long Working Hours (34%). Singapore-based Intellect announced today (January 25) that it has closed a Series A round, in which it raised US$10 million. Subscribe to our newsletter to get hand-picked features every fortnight. K3 Ventures, JAFCO Asia, Singtel Innov8, and PERSOL Holdings, with participation from existing investors Insignia Ventures Partners, and HOF Capital, also joined the round. $1.1M in one of the largest seed rounds in the mental health space, one-on-one coaching, insight-driven therapy and self-guided tools, The latest is Thoughtfull, a Singapore-based mental health startup that raised. Ami offers its platform to startups, described as a target due to their relatively more stressful environments, as well as any company that prioritizes retaining top talent in the region. As part of the virtual launch, ACE and Safe Space hosted a panel discussion earlier this morning, focusing on Rethinking Mental Wellness in Workplaces. Founder and chief executive officer Theodoric Chew told TechCrunch that Intellects usage rate is higher than traditional EAP helpline solutions. Chew said the company is also compliant with major data privacy regulations like ISO, HIPAA and GDPR. Google also . The latest scoop on Southeast Asian tech and business in your inbox. I write about startups and financial inclusion. The company draws from the best in research, data, and healthcare in the US with an ability to localize and provide personalized mental healthcare in Asia. The company now has over 3 million users and counts Foodpanda, Merck, Philips and telecom giant Singtel among its key corporate customers, providing Intellect's services as part of their employee benefit programs. The startup claims its user base spans 95 provinces, towns and cities worldwide, while its provider network spans 57 such locations across Asia. Intellect, the Singapore-based mental health startup focused primarily on Asia-Pacific markets, announced today it has raised a $10 million Series A.The company's services, including self . ThoughtFull World Pte Ltd, which operates as ThoughtFull, a Southeast Asian-based (SEA) healthtech startup with end-to-end mental healthcare services for all, announced today that it has raised US$1.1 million in a seed round. The latest is Thoughtfull, a Singapore-based mental health startup that raised $1.1M in one of the largest seed rounds in the mental health space. The pair are no strangers to breakneck corporate culturesKim was previously a product owner at Korean billionaire Lee Seung-guns Viva Republica, which operates the finance superapp Toss, while Abdikamalov worked as a software engineer at Amazon. Our Safe Space mission is to ensure everyone has fast, affordable and discreet mental healthcare. Whilst 78% of startup founders agree that mental health is important in a high-functioning team, only 12% admitted to having a mental health advocate in their startups. Now, four months after its beta launch, Ami has closed a $3 million seed round from investors including Metas New Product Experimentation (NPE) team, an experimental app division under the tech giant, marking the Facebook owners first early-stage startup investment in the Asia-Pacific region. That drives a differentiated approach in how we build our platform which caters from the smallest of daily struggles through self-guided programs, all the way to clinical therapy for chronic issues.. Distinguished panelists include Mr Edward Chia, Member of Parliament for HollandBukit Timah GRC, Ms Antoinette Patterson, Co-Founder & CEO of Safe Space, Ms Ngo Lee Yian, Executive Director of Singapore Association for Mental Health and Mr Jeff Yeo, Co-Founder of Big Tiny. We are thus thrilled to receive such overwhelming support to build a future where access to end-to-end mental healthcare is not only affordable, but seamless. The timing was prescient as demand for the app skyrocketed during the Covid-19 pandemic. On average, its mental health benefits solution sees about 20% to 45% engagement within three months after being adopted by companies with more than 5,000 employees. We interviewed over 150 startup founders and have assembled the most comprehensive 360 degree view of mental health in startups. Another disconcerting finding was that although male founders were twice as likely to agree that running a startup had taken a toll on their mental health, they were twice as likely to confide in no one. Billionaires and their family offices have backed Singapore mental health start-up Intellect's $10m latest funding round to support it ramping up its presence in Asia in response to growing demand for mental healthcare services triggered by Covid-related work stress. What we hope to do is to make the narrative around mental health a lot more proactive for individuals who want to adopt a healthier lifestyle, says Kim in a video interview from his home in Singapore. Reaching out for mental health support remains an issue in a region where the very concept of mental illness is repeatedly undermined. Family offices back Singapore mental health start-up's $10m - Citywire ThoughtFull World Pte Ltd, which operates as ThoughtFull, a Southeast Asian-based (SEA) healthtech startup with end-to-end mental healthcare services for all, announced today that it has raised US$1.1 million in a seed round. It enables us to be in greater control of our thoughts and emotions, while equipping us to better handle challenges and nurture stronger relationships. You can change your choices at any time by clicking on the 'Privacy & cookie settings' or 'Privacy dashboard' links on our sites and apps. We are fortunate Intellect is able to not just defend, but heavily double down on our work to change how mental healthcare is done for all of Asia Pacific. Temasek's Sheares Healthcare Makes First Mental Health - Forbes Meta Makes First Asia Investment With Mental Health Startup's $3 In Japan, long working hours are so pervasive that death by overworkcalled karoshi in Japanesehas been legally recognized as a cause of death since the 1980s. Metas first investment in the Asia-Pacific region was Ami, in its seed funding round last May. A businessman sleeping on a bench at a Tokyo train station. If one influential person does it, then it catches on., Nahm points out that mental health practices like Buddhist meditation, which has been embraced by the West, originated from Asia. ThoughtFull is currently available in Singapore, Malaysia, and the Philippines, with plans to expand further into Southeast Asia. From individuals, to companies, insurers and governments, all these different types of people and organizations are today prioritizing mental healthcare on an individual and organizational level in an extremely rapid manner.. Last July, it raised $20 million in a Series A funding round led by Tiger Global. The companys services, including self-directed mental wellness programs in 15 languages and online therapy sessions, are available through two channels: as an employee benefit and through Intellects consumer app. The extension round was further backed by existing investors including Insignia Ventures Partners and HOF Capital, and new venture capitalists, namely K3 Ventures, JAFCO Asia, and Singtel Innov8, as well as others. Kim launches Ami amid rising demand for online mental healthcare, as pandemic-related lockdowns and social distancing took a toll on peoples wellbeing. The report found a number of interesting research findings and trends some of which are alarming. The startup now has more than 3 million app users and 20 corporate clients, including FoodPanda, Shopback, Carousell, Avery Dennison, Schroders, and government agencies. Singapore-based Intellect has raised an additional $10 million in a Series A extension led by Tiger Global, doubling the total for the investment round to $20 million, which will be used to support the mental health startups expansion plans across the Asia-Pacific region. Kim hopes that as an increasing number of employees share Ami, reluctant users will be encouraged to try the servicesensuring a high engagement rate and retention. Effectively breaking stigma in Asian communities, it has served more than 3 million people from over 60 countries, with the help of expert therapists and coaches who are based in over 20 countries, and currently offers its service support in 15 languages. The round, which Intellect claims is the largest Series A ever raised by a mental health startup in Asia, was led by HOF Capital. The oversubscribed round was led by New York-based HOF Capital and participation from new investors including Headline . Singapore Association for Mental Health (SAMH) has been uplifting lives and promoting mental wellness for all since 1968. A 2020 academic review of stigma against mental illness in China, Hong Kong, Japan, Singapore, Korea and Thailand found that these illnesses were viewed as personal weakness and therefore were less socially acceptable, among other issues. It isnt plug-and-play, so startups have to adapt to launch in each country. Images: ACE & SafeSpace, and Envato (header).

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