Stockholm-based Neko Health, a healthtech company that helps people stay healthy through preventive measures and early detection, announced on Wednesday that it has secured €60M in a Series A round of funding.
The company says it will use the funds to accelerate its strategic plans for expansion, invest in R&D, clinical studies, and recruitment of “world-class” talents.
Investors in this round
The investment was led by one of the leading pan-European venture capital firms Lakestar, with participation from Atomico and General Catalyst. This was Neko Health’s first external funding.
As a part of the deal, Klaus Hommels (Lakestar) and Niklas Zennström (Atomico) will join Neko Health’s board together with its founders.
Building a better healthcare
Founded in 2018 by Hjalmar Nilsonne and Daniel Ek, Neko Health aims to develop a healthcare system that can help individuals in maintaining their health via early identification and preventative actions.
The company has developed a new medical scanning technology concept for broad and non-invasive health data collection that is fast, convenient and affordable.
Neko Health says, “With the help of the latest sensor technology and AI, we believe that it is possible to create cheap and flexible examinations that can raise the quality of healthcare and focus on prevention.”
Nilsonne says, “Healthcare costs are spiralling out of control. We believe preventive health will be key to reversing this trend. 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.”
“We’ve demonstrated that our unique approach to this problem resonates with people – that there’s a genuine need and desire for this change. This strong demand is what’s driving us to expand our horizons,” adds Nilsonne.
The scan takes around 10 minutes to complete, and the results and suggestions are always given during an in-person consultation with the doctor that always follows.
For example, it can detect changes in the skin as little as 0.2 millimetres because of its utilisation of over 70 sensors and 50 million data points collected in minutes.
With the use of current technology, clinicians should be able to identify diseases like skin problems, skin cancer, cardiovascular disease, diabetes, and other metabolic syndromes early.
The company currently employs 38 people across Europe.
Growth and developments
Neko Health says it sold out all of the available slots during its initial debut earlier this year in Stockholm, Sweden, in less than two hours.
With over 10,000 people on the waiting list and an 80 per cent rebooking rate following the initial scan, the enthusiasm for its proactive approach to healthcare is still strong.
Exclusively offered in Stockholm, the Neko Body Scan will soon be made available in clinics all around Europe. By joining the waitlist, people can ensure that they will be among the first to get access when Neko Health expands.
How the Neko Body Scan experience works:
- A 10-minute full-body scan is always followed by an on-site medical consultation.
- In only a few minutes, over 70 sensors gather 50 million pieces of data. For example, Neko’s Body Scan can spot skin changes as little as 0.2 millimetres.
- In an app, the patient can receive a summary of their health information and track the trend in their health.
- The scan costs €250.
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