Spotify founder’s start-up Neko Health raises $65m

Neko Health will expand its services across Europe after its latest funding round.

Simone Bateson July 05 2023

Swedish medtech start-up, Neko Health, has raised $65m in a Series A funding round to expand its services across Europe.

The start-up, co-founded by Spotify founder and CEO Daniel Ek, has attracted a range of investors, notably Klaus Hommels, whose venture firm Lakestar provided Neko Health’s seed funding.

Hommels will join the company’s board, along with Skype co-founder Niklas Zennstrom, whose investment fund Atomico also participated in the round.

“The funding will help accelerate Neko Health’s strategic plans for expansion, continued investment in R&D, clinical studies, and recruitment of world-class talents,” Neko Health said in a statement.

Neko Health’s services include a full-body 3D scan which can provide instant diagnosis on skin and cardiovascular health by using artificial intelligence to enable early detection and prevention of medical conditions.

The scan uses over 70 sensors to collect 50 million data points in minutes, Neko Health said.

Hjalmar Nilsonne, Neko Health’s other co-founder and CEO, said that with healthcare costs rising, preventative care could enable a reversal of the 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,” said Nilsonne.

Launched in Stockholm, in early 2023, the body scan has attracted customer attention and retention, selling out its slots in the first two hours of its launch.

Over 10,000 people are currently on the waiting list with a customer return rate of 80% after the initial scan, showing the majority of customers have made the treatment part of their annual health routine, according to Neko Health.