Aktivolabs Pte Ltd, a Singapore-based health tech firm, announced Thursday that it has secured a $10 million capital injection for a Series A round led by Mitsui & Co., Ltd., Adaptive Capital Partners and SEEDS Capital, the investment arm of Enterprise Singapore.

HH Investments and Govin Capital have also participated in this round, Aktivolabs said in a statement.

According to the statement, the funds will be utilized to grow its data science capability, strengthen the existing team and portfolio of products and broaden its footprint in Southeast Asia (SEA), Europe and the United States.

The current product portfolio of Aktivolabs includes the Aktivo Score®, Aktivo® Mind, Glucolife and Goodbiome.

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,” said Gourab Mukherjee, Co-Founder and Chief Executive Officer of Aktivolabs.

“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” he added.

Cofounded by the late Professor David Lai, Gourab Mukherjee and 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.

The firm currently operates in Singapore, Hong Kong, India, Japan, Australia, Philippines, Taiwan, Malaysia, Indonesia, Vietnam, Thailand, Macau and the United Arab Emirates (UAE) and is growing worldwide.

“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,” said Takeshi Akutsu, Chief Operating Officer of Wellness Business Unit, Mitsui & Co., Ltd.

According to him, 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,” he added.

Mitsui 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.

As the investment arm of Enterprise Singapore, SEEDS Capital catalyzes smart monies into Singapore-based early-stage technology startups. It co-invests with institutional investors in innovative startups with strong intellectual content and global market potential.

Adaptive Evergreen fund invests in innovative and disruptive technology startups with a primary focus on healthcare technology, consumer tech and fintech. The firm 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.

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