Japan’s Ricoh has invested in Intellect, a Singapore-based workplace mental-health platform, through its corporate venture-capital fund, in the fund’s first deal.

In a statement on Tuesday, Ricoh said the investment was made through the RICOH Innovation Fund II, a JPY3 billion yen ($20 million) fund launched in April. SBI Investment is a general partner. Ricoh said the fund targeted areas including workplace creativity, digital work, and digital inclusion.

Ricoh did not provide any financial details.

Employee well-being is a foundation for creativity and productivity, Ricoh noted. The Japanese firm will explore combining Intellect’s mental-health expertise with data from its own workplace-services business.

Intellect provides organizations with mental-health support spanning self-care, coaching, counseling and workforce analytics, with a dashboard for tracking employee well-being. Its services are available in more than 100 countries and over 120 languages, serving more than 4 million users.

Eiji Suzuki, a general manager in Ricoh’s corporate-planning division, said Intellect’s platform and data capabilities made it a compelling partner. Theodoric Chew, Intellect’s co-founder and chief executive, said Ricoh’s workplace expertise would help extend mental healthcare to more organizations.

Founded in 2019 by Theodoric Chew, Intellect has raised over $22 million to date from investors including Tiger Global, Y Combinator, Insignia Ventures Partners, and the hospital group IHH Healthcare, a strategic backer.

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