Daniel Ek, the co-founder of Spotify, has raised $260 million for his new venture, Neko Health. The company aims to change the healthcare industry by using advanced medical scanning technology to make healthcare more preventive. Neko Health’s focus is on using full-body scanners that can find early signs of various health conditions.
These conditions can then be treated before they become serious issues. Ek’s goal for Neko Health is part of his larger plan to use technology to solve big societal challenges. By using cutting-edge scanning technology and AI, Neko Health wants to provide detailed health insights and make high-quality medical diagnostics available to everyone.
The recent funding round included investments from well-known investors. This shows growing interest and confidence in health-tech solutions that aim to improve human health through technology. While details on the commercial rollout are still not public, Neko Health’s innovative model has already gotten a lot of attention in the medical community.
As healthcare costs keep rising around the world, Neko Health’s promise of early diagnostics and preventive care is seen as a potential game-changer.
Early diagnostics and preventive care
By aiming to be the Apple of healthcare, Neko Health wants to set new standards in the industry and improve patient care through technological advancements.
The company currently operates in Sweden and the U.K. The funding round, led by Lightspeed Venture Partners, values Neko Health at about $1.8 billion. This latest funding follows a successful Series A round in July 2023. As part of the investment, Lightspeed Venture Partners will join the Neko Health board of directors.
Neko Health’s full-body scanning service checks for skin cancer, cardiovascular risks, and other health issues. The company has completed 10,000 scans across its clinics in Stockholm and London and currently has a waiting list of more than 100,000 names. The non-invasive procedure uses more than 70 sensors to collect 50 million data points, which are then analyzed using AI to provide insights into the person’s overall health status.
“We’re at the beginning of a big shift in the healthcare market, from reactive to proactive, driven both by technological advancements and growing consumer demand,” said co-founder Hjalmar Nilsonne. “This round of financing accelerates Neko’s global expansion to include the U.S., as well as investments in breakthrough R&D. In the coming years, Neko will continue to bring incredible innovations to the market to find and prevent disease before it has a chance to develop.”