Neko Health, a body-scanning startup launched by Spotify founder Daniel Ek, has secured a $1.8 billion valuation after closing a $260 million Series B.
Lightspeed Venture Partners led the round, which featured investors General Catalyst, Lakestar and Atomico. The round follows a $65 million Series A in 2023.
Founded in 2023 by Ek and Hjalmar Nilsonne, Neko Health offers full-body scans that detect numerous conditions, including skin cancer and heart disease.
Operating in Stockholm and London, the startup has scanned over 10,000 people since its launch and has an additional 100,000-plus on the waitlist.
“We’re at the beginning of a big shift of the healthcare market, from reactive to proactive, driven both by technological advancements and growing consumer demand,” Nilsonne said in a statement. “This round of financing accelerates Neko’s global expansion of locations to include the US, as well as investments in breakthrough R&D.”
According to the Centers for Disease Control and Prevention, chronic diseases cause seven out of 10 US deaths, many of which are preventable. As consumers increasingly take charge of their health, the preventive healthcare market is forecast to surpass $500 billion by 2030, according to Grand View Research.
While VC investment in healthtech has slowed in recent years, several startups have emerged to capitalize on the more proactive approach to health, including other body imaging companies such as Prenuvo and Ezra.
For healthtech in general, VC investments have stalled, having hit a global peak in 2021. Deal value remained flat last year compared with 2023, according to PitchBook data, with $30.4 billion invested.
Dealmaking in the sector is expected to pick up this year as AI’s move toward real-world applications promises to disrupt healthcare systems.
Neko Health founders Hjalmar Nilsonne and Daniel Ek
Featured image courtesy of Neko Health
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