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Hjalmar Nilsonne and Daniel Ek, co-founders of Spotify, have announced the closing of a €60 million ($65 million) series A fundraising round for their healthcare technology startup, Neko Health. The company\’s AI-powered, whole-body scans are designed to transform preventive medicine and thereby the healthcare sector as a whole.
This is the first time the firm has received investment from a third party. Lakestar acted as the lead investor, while Atomico and General Catalyst also participated.
The investment will bring new members to the board of directors, including Lakestar\’s Klaus Hommels and Niklas Zennström, CEO of Atomico and co-creator of Skype.
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The breakthrough medical scanning technology developed by Neko Health allows for the gathering of vast, non-invasive health data with a focus on rapidity, precision, and comfort.
The corporation runs exclusive medical facilities stocked with both in-house and commercially available diagnostic tools, such as a full-body 3D scanner equipped with seventy-plus sensors. In only a few minutes, the scanner can gather 50 million data points.
This information is analysed by a \”self-learning AI-powered system,\” which then provides helpful insights to both physicians and patients.
\”Today\’s medical professionals just don\’t have the time or means to prioritise disease prevention. CEO and co-founder of Neko Health Hjalmar Nilsonne stated in a written statement that this results in many health issues staying undetected until they become quite severe, causing a great deal of suffering and placing a significant pressure on the healthcare system.
Neko is unique because it implements this technology on a larger scale and in a more accessible manner than other attempts to speed up MRI scans using AI, such as the partnership between Facebook and New York University.
AI-provided in-depth health insights
The business says that its new AI platform can analyse scan findings and immediately provide information about potential concerns ranging from skin disorders to cardiovascular health, allowing for early diagnosis of these illnesses.
The client receives the findings during the consultation and has ongoing access to them through an app.
Neko Health estimates that each scan will take 10 minutes and will cost €250. The findings are then discussed in depth with the patient at a follow-up appointment.
Healthcare expenditures have outpaced GDP growth by more than half a percentage point in 28 of the 32 EU member states since 2000. According to Nilsonne\’s LinkedIn post, this has led to a \”unreasonable burden\” on medical professionals, who are now expected to accomplish more with less resources than ever before being allocated to public health and disease prevention initiatives. For the future of mankind, this is an issue that must be solved. We think the answer lies in focusing on people\’s health before they become ill and helping them maintain that health.
The company\’s first clinic, located in Stockholm, opened in February. Since then, Neko Health claims to have completed over a thousand scans, and there are still many people on its waiting list.
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In addition, the firm said that over 80% of clients had already paid in advance for further scans to be completed within a year.
According to Nilsonne, the firm has already shown that its innovative approach to preventive healthcare is well received. Strong demand indicates a real need and desire for change, which has prompted the firm to open its doors to external investors for the first time in order to accelerate its development.
According to Neko Health, the freshly acquired capital will fuel the company\’s strategic growth goals, as well as its continuous investment in R&D, clinical investigations, and the recruitment of top-tier personnel.