Neko Health raises €60M to transform healthcare with AI-powered full-body scans

Stockholm-based health tech startup Neko Health has raised €60 million or $65 million in its inaugural external funding round.

The company plans to use the funds to establish clinics across mainland Europe and Britain, focusing on early detection of serious diseases. They will also be allocated towards research and development, conducting clinical studies and bolstering recruitment efforts.

Lakestar led the Series A funding round for the Swedish startup, accompanied by Atomico and General Catalyst. Following the fundraising round, Lakestar founder Klaus Hommels and Atomico founder Niklas Zennström will join Neko’s board of directors.

Neko Health was founded in 2018 by Hjalmar Nilsonne and Spotify co-creator Daniel Ek to revolutionise preventive healthcare with AI-powered full-body scans. These scans can help detect conditions such as cancer, cardiovascular disease, diabetes and metabolic syndromes.

Each scan lasts approximately 10 minutes and costs €250. Following the scan, the company provides an in-person consultation to explain the results to the person.

The company has a team comprising 35 doctors, researchers and technicians across various European countries. Since its establishment, the company has conducted over 1,000 scans. The startup currently boasts a waiting list of over 10,000 people seeking its services.

Since its establishment, the company has conducted over 1,000 scans. The centre currently boasts a waiting list of over 10,000 people seeking its services.

“Healthcare costs are spiralling out of control — we believe preventive health will be key to reversing this trend,” Nilsonne said.

He remarked that due to the constraints faced by doctors today, there is a lack of time and resources dedicated to prevention. Therefore, many health problems go unnoticed until they reach a critical stage, resulting in significant discomfort and tremendous strain on the healthcare system.

When questioned about the intensified scrutiny surrounding healthcare technology following the downfall of Theranos, a defunct blood testing company, Nilsonne and Ek said that they had taken a divergent approach with Neko Health.

Nilsonne said he is confident that Neko Health’s investors appreciate the transparency of the company’s operations, which sets them apart from the secretive practices of Theranos.

“Everything they did was a secret,” Nilsonne said. “We’re pretty darn transparent about what we do and how it works.”