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Neko Health Secures €60 Million in Series A Financing
Stockholm-based startup Neko Health recently raised €60 million (about $65.8 million) in Series A financing. The company specializes in medical scanning technology aimed at conveniently and affordably collecting extensive health data to aid in the early detection of diseases.
Vision for a Healthier Future
Neko Health aims to create a healthcare system focused on preventive measures and early disease detection. The current primary care system often lacks the time and resources necessary for disease prevention, leading to delayed detection and more severe symptoms. CEO Hjalmar Nilsonne emphasizes the importance of early detection and preventative care.
Confidence in Neko’s Mission
Investors have shown confidence in Neko Health’s potential to advance its mission. Led by Lakestar, the recent funding round includes participation from Atomico and General Catalyst. This marks the first time the startup has secured external capital since its establishment in 2018 by Nilsonne and Spotify CEO Daniel Ek.
Convenient and Affordable Scanning Technology
Neko Health’s medical scanning technology offers a quick and cost-effective solution. The scan takes approximately 10 minutes and is always followed by a consultation with a physician. It assists doctors in detecting various diseases, including skin conditions, skin cancer, cardiovascular disease, diabetes, and metabolic syndromes.
Cutting-Edge Technology for Precise Assessments
Neko’s scanning technology utilizes over 70 sensors to collect 50 million data points within minutes. The company claims that its scans can detect even the subtlest changes in the body, such as skin changes as small as 0.2 millimeters (less than 0.008 inches). Unlike MRI or CT scans, Neko has developed its own medical device to provide affordable and precise health assessments.
Expansion and Competition
Neko Health currently operates two clinics in Stockholm, one as a scanning center and the other as a primary care clinic for the public. The initial focus is on consumers due to the lack of incentives for preventative care in the existing healthcare system. While Neko is exploring the U.S. market, no specific timeline for availability has been provided. The startup faces competition from other companies like Prenuvo, which raised $70 million in October, in the mission to provide early disease detection through whole-body scans. Differentiation details from competitors were not provided by Neko’s representatives.