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Neko Health, a healthcare technology company co-founded by Hjalmar Nilsonne and Spotify founder Daniel Ek, announced the successful completion of a €60 million ($65 million) series A funding round. The company aims to revolutionize the health industry through artificial intelligence (AI)-driven full-body scans, specifically focusing on preventative healthcare.
The funding marks the company’s first external capital infusion. The round was led by Lakestar, with participation from investment firms Atomico and General Catalyst.
Klaus Hommels of Lakestar and Niklas Zennström, cofounder of Skype and CEO of Atomico, will join the company’s board as a result of the investment.
Neko Health has introduced an innovative medical scanning technology that enables extensive and non-invasive health data collection, prioritizing speed, accuracy and convenience.
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The company operates private clinics with proprietary and off-the-shelf diagnostic products, including its own 360-degree full-body 3D scanner integrated with over 70 sensors. The scanner can collect 50 million data points within minutes.
This data undergoes analysis by a “self-learning AI-powered system,” providing doctors and patients with insights.
“Doctors today 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,” said Hjalmar Nilsonne, CEO and cofounder of Neko Health, in a written statement.
While similar technology has emerged in the past, such as a collaboration between Facebook and New York University to increase the speed of MRI scans using AI, Neko distinguishes itself by implementing this technology on a broader scale and in a more readily available way.
Providing intricate health insights through AI
The company claims its new AI platform enables early detection of health issues by analyzing scan results and providing instant results pertaining to possible issues ranging from skin conditions to cardiovascular health.
Clients receive their results during their appointment and can access and monitor them through a dedicated app.
According to Neko Health, each scan requires approximately 10 minutes and costs €250. Subsequently, patients undergo an in-person consultation, where the results are thoroughly explained.
“In Sweden, healthcare costs have increased 50% faster than GDP since the year 2000, and in 28 of 32 EU countries, the increase has been even faster. This has resulted in an unreasonable burden on medical staff to do more every year and fewer resources than ever for prevention and public health,” Nilsonne said in a LinkedIn Post. “Solving this is one of humanity’s most important and difficult problems going forward. We believe that the solution is to move away from reactively treating the sick and moving towards prevention and helping people stay healthy.”
The company opened its inaugural clinic in Stockholm in February. Since then it has performed over 1,000 scans, with many individuals currently on the waiting list, according to Neko Health.
The company also said that approximately 80% of customers have pre-paid for follow-up scans to be performed within a year.
Nilsonne said that the company has already proven the resonance of its unique approach to preventative healthcare. Strong demand signals a genuine need and desire for change, which has propelled the company to broaden its horizons and accelerate its growth by forming partnerships with external investors for the first time.
Neko Health stated that the newly secured funding will drive the company’s strategic expansion plans, ongoing investment in research and development, clinical studies, and acquisition of top-tier talent.
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