Daniel Ek's Neko Health raises €60 million to expand its preventive health care solution across Europe

The Swedish health tech start-up is vying for new markets in Europe after its initial launch in Sweden sold out its slots in just two hours - funds will fuel a recruitment drive for ‘world-class talents’, and further R&D and clinical studies
Daniel Ek's Neko Health raises €60 million to expand its preventive health care solution across Europe

Swedish start-up Neko Health provides solutions for preventative health care using early detection methods. Its non-invasive medical scanning technology concept is designed to be a quick, convenient and affordable solution. It claims its offering has been in huge demand in Sweden -  when it first launched earlier this year in Stockholm, Neko Health sold out all the slots in less than two hours and has a waiting list of over 10,000 people. 

Using over 70 sensors to collect 50 million data points, it takes approximately ten minutes to complete and results are available to the patient instantly through a doctor’s consolation. It says it can ‘assist doctors in detecting disease earlier including skin conditions, skin cancer, cardiovascular disease, diabetes and other metabolic syndromes’.

Founded by Hjalmar Nilsonne (Watty founder) and Daniel Ek (Spotify founder) the company has raised a €60 million Series A funding which it says is the first time the company has brought in external capital - Ek and Prima Materia were funding the company until this round. The fresh funds will fuel expansion across Europe, a recruitment drive for ‘world-class talents’ and continued investment in R&D and clinical studies.

The round was led by Lakestar and includes Atomico and General Catalyst. Lakestar’s Klaus Hommels and Atomico’s Niklas Zennström will join Neko Health’s board.

"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.” says Nilsonne.

“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. To accelerate this, we're partnering with external investors for the first time. It's time to create the healthcare future we want, for ourselves, and for future generations," he says.

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