Daniel Ek’s health tech startup, Neko Health, has raised €60 million ($65 million) in its first round of external funding. The Series A round was led by Lakestar, with participation from Atomico and General Catalyst.
Neko Health, founded in Sweden in 2018 by Ek and Hjalmar Nilsonne, aims to provide preventative healthcare through full-body scans backed by AI software. These scans help doctors detect a range of conditions, including skin cancer, cardiovascular disease, diabetes, and other metabolic syndromes. Each scan takes approximately 10 minutes and costs €250. Following the scan, patients receive an in-person consultation where the results are explained.
The company, headquartered in Stockholm, claims to have a team of 35 doctors, researchers, and technicians across Europe. Neko Health has a waiting list of individuals seeking full-body scans at its clinic in Stockholm.
According to Neko Health CEO Hjalmar Nilsonne, the rising costs of healthcare necessitate a focus on prevention. He states, Doctors today just don’t have enough time or resources to focus on prevention. This leads to many health problems going unnoticed until they get really serious, causing a lot of pain and putting a massive strain on the healthcare system.
Notably, Neko Health has been cautious in its approach, avoiding interviews and questions since its formal launch earlier this year. This approach is in contrast to high-profile health tech companies, such as Theranos, that made bold claims without substantial evidence.
Despite this cautious stance, Neko Health has managed to attract investments from notable companies in the US and Europe, including Spotify, Airbnb, Snap, and Hubspot. As a result, Klaus Hommels and Niklas Zennström, founders of Lakestar and Atomico respectively, will join Neko’s board of directors alongside the company’s two founders.
The funding raised will be used to accelerate Neko Health’s expansion plans, including the establishment of more clinics across Europe. Additionally, the company plans to invest in research and development, clinical studies, and recruitment.
Overall, Neko Health’s innovative approach to preventative healthcare aims to address the increasing healthcare costs and improve access to early detection and treatment of various health conditions. By providing full-body scans and utilizing AI software, the company aims to empower doctors to detect and prevent serious health problems before they become severe.
