Daily Markup #86: Naluri offers mental health support for the Malaysian Aviation Group; EMQ is…

Peace of mind

  • For some employees, the pandemic has been a source of stress and uncertainty, with concerns of an unstable economy further straining their mental wellbeing.
  • 500-backed digital health startup Naluri is working together with the Malaysian Aviation Group (MAG) to offer psychological health support during this time. MAG is home to Malaysian Airlines and Firefly.
  • Over 13,000 MAG staff will take part in Naluri’s digital therapeutics program led by qualified professionals.
  • “With this partnership, we can draw upon Naluri’s digital platform and technologies to provide them with proactive support rather than reactive. We understand the importance of mental well-being and believe that early screening is important so intervention can be timely, and Naluri can help us do exactly that,” said MAG CEO, Captain Izham Ismail.
Credit: The Straits Times
  • The aviation industry is among the ones heavily impacted by the Covid-19 crisis. With traveling still very much restricted globally, airlines are certainly going through trying times.
  • Forecast suggests that global passenger traffic will not return to pre-covid numbers until 2024.
  • Besides MAG, Naluri is also implementing digital therapeutics solutions for other notable companies such as Petronas, AHA Insurance, Pfizer, and RHB Bank.

Quick transfers

  • 500-backed cross-border financial settlement company EMQ announced an upgrade for real-time international payment capabilities across Vietnam.
  • Through liaising with National Payments Corporation of Vietnam (NAPAS) — the country’s domestic payment network — users from around the world can now transfer money to 48 NAPAS banks under a few minutes.
Credit: TTG Asia
  • “Southeast Asia is growing at an unprecedented pace with Vietnam as the fastest growing economy, and it is fuelling the demands for a network infrastructure like EMQ that facilitates in minutes cross-border payments across the region,” said Max Liu, co-founder and CEO of EMQ.
  • In addition to Vietnam, EMQ provides in minutes cross border transfers across China, Singapore, India, Indonesia, Cambodia, Vietnam, Nepal, Philippines, the United Kingdom, and 19 markets in Africa. More markets will be introduced by the end of this year.
  • The company successfully raised a Series B round of US$20 million in July.

Prepping for takeoff

  • 500-backed Australian rocket company Gilmour Space is eyeing to raise a new round later this year ahead of plans for a commercial launch in 2022, co-founder Adam Gilmour told InnovationAus.
  • The Queensland-based firm last raised US$13.7 million in Series B funding in 2018.
  • With SpaceX and Amazon’s Project Kuiper deploying satellites into space through reusable rockets, Gilmour Space has hopes it can do the same, albeit with smaller and cheaper alternatives.
  • “Those satellites go into particular orbits and to move from orbit to another is very expensive in terms of fuel and once you’ve put all these massive constellations up there, they’ve got a lifespan of five to seven years and they start to die.
Credit: Australian Defence Magazine
  • “The service we can provide is to take them back up in ones and twos to replace them. And so the [satellite] service doesn’t get disrupted and it’s uneconomical for a massive rocket like a Falcon 9 to take up a satellite but it’s very economical for us to do it,” said Adam.
  • Last month, it achieved a milestone when a hybrid rocket engine test clocked at 110 seconds, surpassing the last test of 45 seconds.
  • You can stay updated with Gilmour Space here.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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