Daily Briefing: Temasek co-leads $142m funding in biotech firm; Jetstar Asia extends flight suspension to 31 May

And four in five Singaporeans tap into vacation memories to deal with work stress.

From DealStreetAsia:

California-based Pivot Bio has closed a $141.91m (US$100m) series C funding round, which was co-led by repeat investments from Singapore state-owned investment company Temasek and Breakthrough Energy Ventures, the biotech fertilizer company said on 28 August.

DCVC also “materially participated” in the C round, after investing in the seed round, leading the series A and taking part in the series B, Pivot Bio said in a statement posted on its website. Other investors included Prelude Ventures, Spruce Capital Partners, Codon Capital, Bunge Ventures, Continental Grain Co., Tekfen Ventures and Pavilion Capital, as well as individual investors Alan Cohen and Roger Underwood, the company said.

So far, Pivot Bio has raised a total of $264.02m (US$186m). Pivot Bio said the funding was earmarked to scale its microbial nitrogen technology, which aims to increase crop yields, whilst reducing greenhouse gas emissions, water pollution and energy use compared with synthetic nitrogen fertilizer use.

Read more here.

From Channel News Asia:

Jetstar Asia will continue to suspend its flights until 31 May, the budget airline said. This is as border restrictions across the region remain in place and the Singapore Government has extended “circuit breaker” measures to 1 June, it said.

Jetstar services have been suspended since 23 March.

Limited services to Manila, Bangkok and Kuala Lumpur to repatriate citizens and permanent residents or for those with prior written approval for travel resumed from 21 April and will continue.

All passengers with existing bookings for travel from 19 May to 31 May will be offered a refund to the full value of their untravelled booking in the form of a travel credit voucher.

Read more here.

From TTG Asia:

Seventy-nine percent of the 1,000 Singaporean residents polled indicated that they tap into vacation memories when feeling stressed at work.

Homebound holidaymakers can still reap the psychological benefits of travel, and find relief from vacation deprivation, by tapping into cherished memories of holidays past, amidst this unprecedented time of travel restrictions, according to Expedia’s latest Vacation Deprivation Study.

Conducted by Northstar Research Partners on behalf of Expedia, the study, which surveyed 11,000 individuals across 19 markets, found that a large majority (93%) of Singaporean working adults indicated that taking regular vacations is important for general health and well-being.

Additionally, 88% said they feel rejuvenated and have a better outlook on life after vacations, whilst 82% indicated that they regularly take vacations to improve mental wellness.

The company has termed the positive psychological effects of travel, as affirmed by the study’s findings, the “Vacation State of Mind.”

Read more here.