Daniel Ek, the visionary founder behind Spotify, is expanding his entrepreneurial footprint into the realm of AI-powered preventative healthcare with his co-founded startup, Neko Health.
The Stockholm-based company announced on Thursday, January 23, that it has raised $260 million in Series B funding to accelerate its international expansion, including entry into the U.S. healthcare market. Currently operating in Sweden and the U.K., Neko Health aims to redefine healthcare through advanced technology and proactive care solutions.
A Significant Milestone in HealthTech
The Series B funding round, led by Lightspeed Venture Partners, places Neko Health’s valuation at approximately $1.8 billion. This follows a $65 million Series A round completed in July 2023. Bejul Somaia of Lightspeed Venture Partners will join Neko Health’s board of directors, bringing expertise and strategic insight to the company’s growth trajectory.
“Meeting Neko Health’s co-founders, Daniel Ek and Hjalmar Nilsonne, made it clear they are revolutionizing preventive care,” Somaia said. “Their innovative scanning technology and patient-centric approach pave the way for accessible and scalable solutions, with a clear strategy for global expansion.”
Additional investors in this funding round include General Catalyst, O.G. Venture Partners, Rosello, Lakestar, and Atomico, highlighting the broad interest in Neko Health’s vision.
Transforming Healthcare Through AI
Neko Health’s flagship service features a comprehensive, non-invasive full-body scanning system designed to detect potential health risks, including skin cancer and cardiovascular issues. Leveraging over 70 sensors, the technology collects 50 million data points, analyzed by AI to deliver personalized insights about an individual’s health.
Since its inception, Neko Health has conducted 10,000 scans at clinics in Stockholm and London, addressing the growing demand for preventative care. The company’s waitlist now exceeds 100,000 individuals, underscoring the widespread interest in its groundbreaking approach.
Driving a Shift from Reactive to Proactive Care
Co-founder Hjalmar Nilsonne emphasized the broader implications of Neko Health’s mission. “The healthcare industry is undergoing a seismic shift, transitioning from reactive to proactive care,” Nilsonne said. “Technological advancements and consumer demand are fueling this transformation. This funding allows us to expand into the U.S., invest in R&D, and bring innovative solutions to market that detect and prevent diseases before they manifest.”
With its latest funding, Neko Health is poised to spearhead a new era in global healthcare, combining cutting-edge AI technology with a focus on prevention and accessibility.
