- Naluri Healthtech faced setbacks in 2023 after raising $7M.
- The Malaysian startup pivoted to mental healthcare in 2020.
- Naluri targets EBITDA breakeven by year-end, eyeing further growth if successful.
Naluri, a Malaysian healthtech firm, faced a tumultuous 2023 after raising a US$7 million pre-series B round in 2022.
The company halted expansion plans and laid off more than 30% of its group operations due to the challenging global VC funding environment. Co-founder Azran Osman-Rani emphasizes the need to conserve cash and preserve runway.
Shifting focus to mental health
Initially focused on chronic disease management, Naluri pivoted to mental healthcare during the pandemic peak in 2020.
Today, 70% of the cases handled by its platform are related to mental health. The company hires its own psychologists, dietitians, and doctors locally to better deliver programs within users’ contexts.
Aiming for EBITDA breakeven
Naluri aims to reach EBITDA breakeven at a group level by the end of the year, focusing on its core businesses in Malaysia, Singapore, and Indonesia. The company faces challenges in raising funds, particularly in the middle stages, due to the limited funding pool in Malaysia.
If successful in hitting its EBITDA goal, Naluri plans to explore geographical expansion, target SMEs and individuals, and expand the range of health conditions it supports.
To read the original article: https://www.techinasia.com/setbacks-malaysian-healthtech-firm-eyes-ebitda-breakeven-yearend
