Spotify Founder's Health Tech Startup Neko Raises $260M, Valued at $1.8 Billion

Spotify Founder's Health Tech Startup Neko Raises $260M, Valued at $1.8 Billion

Neko Health, the AI-powered preventative healthcare startup co-founded by Spotify's Daniel Ek, has secured $260 million in Series B funding at a $1.8 billion valuation. The investment, led by Lightspeed Venture Partners, signals growing confidence in Neko's vision to revolutionize preventative healthcare through advanced body-scanning technology.

Key Points:

  • Neko has conducted 10,000 full-body scans to date, with over 100,000 people on its waitlist
  • The company plans to expand to the U.S. market, where it's seeing strong demand
  • 80% of current customers pre-book and pay for follow-up scans a year in advance

The Stockholm-based company, which launched its first clinic in 2023, offers comprehensive health scans that combine proprietary hardware, AI analysis, and doctor consultations. For £299, patients receive an hour-long examination that generates millions of data points about their health, screening for conditions ranging from skin cancer to cardiovascular issues.

"I think we have a shot of changing the biggest industry on earth and accomplish a win-win-win where we reduce costs for society, we reduce suffering and we can create a fantastic business," Ek told the Financial Times. The Spotify founder, who co-founded Neko with CEO Hjalmar Nilsonne in 2018, sees the company following in the footsteps of tech giants like Apple and Tesla in terms of vertical integration and user experience.

The fresh capital will fuel Neko's international expansion, particularly into the U.S. market, where demand is already strong. The company will also invest in developing new diagnostic capabilities and opening additional clinics to address its growing waitlist.

The company's AI-driven approach has shown promising results. Early results from Neko's operations show promise. In its first year of operation, the company found that while 78.5% of patients had no health issues, about 14% required medical treatment, with 1% discovering severe conditions they were previously unaware of.

The funding round included participation from General Catalyst, O.G. Venture Partners, Rosello, Lakestar, and Atomico. Lightspeed partner Bejul Somaia will join Neko's board as part of the investment.

"We're not selling a product, we're selling an experience," Ek explained, comparing Neko's current state to Apple's early days with the iPod. "Where we are today, I like to believe that we will look back at this as the first iPod."

Chris McKay is the founder and chief editor of Maginative. His thought leadership in AI literacy and strategic AI adoption has been recognized by top academic institutions, media, and global brands.

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