Neko Health, the health tech startup co-founded by Spotify co-creator Daniel Ek, has raised €60 million ($65 million) in its first external round of funding.
The Series A round was led by Lakestar, with participation from Atomico and General Catalyst.
Founded out of Sweden in 2018 by Ek and Hjalmar Nilsonne, Neko Health exited stealth back in February with the lofty promise of preventative healthcare via full-body scans backed by AI software that help doctors detect skin conditions including cancer, cardiovascular disease, diabetes, among other metabolic syndromes.
Each scan apparently takes around 10 minutes and costs €250, according to the company, and is followed by an in-person consultation where the results are explained.
Neko Health scan Image Credits: Neko Health
The Stockholm-headquartered company claims a team of 35 doctors, researchers, and technicians spread across Europe, and it has a waiting list for people seeking full-body scans out of its inaugural clinic in Stockholm.
“Healthcare costs are spiraling out of control — we believe preventive health will be key to reversing this trend,” Neko Health CEO Hjalmar Nilsonne noted in a statement. “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.”
Unhealthy silence
What’s perhaps most notable about Neko at this juncture is its aversion to questions, particularly against the backdrop of high-profile health techs such as Theranos’ spectacular fall from grace after making bold claims with little foundation. Indeed, Neko Health declined to give any interviews when it formally launched earlier this year, a position it’s adhering to with the announcement of its first institutional investment today.
At any rate, Neko Health has amassed a fairly impressive roster of investors spanning the U.S. and Europe, which have collectively backed companies including Spotify, AirBnb, Snap, and Hubspot. And as a result of their investments, Lakestar and Atomico’s founders, Klaus Hommels and Niklas Zennström respectively, will join Neko’s board of directors alongside Neko’s two founders.
The company said it will use its fresh cash injection to accelerate its expansion plans including more clinics across Europe, and investing in R&D, clinical studies, and recruitment.
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