Daniel Ek, best known as the founder of Spotify, is now making waves in the healthtech industry with his startup, Neko Health. Initially launched in Stockholm in February last year, Neko Health has quickly gained traction, completing 3,000 scans, and now setting its sights on the UK market, with a London launch scheduled for this summer. This expansion comes on the heels of a successful fundraising round last July, where the company secured €60 million for international growth.
Neko Health’s primary offering is a comprehensive full-body scanning system designed for broad and non-invasive health data collection. By leveraging over seventy sensors to collect fifty million data points, the company aims to provide quicker, more convenient, and affordable health assessments. The scans, which take 10-15 minutes, are followed by consultations with medical professionals. The technology boasts the capability to detect subtle changes indicative of various conditions such as skin cancer, cardiovascular disease, diabetes, and metabolic syndromes.
Despite the €250 price tag per scan, demand has been robust, with all slots at the Stockholm clinic selling out within hours of its launch last year. Neko Health has even amassed a waiting list of 20,000 patients in Sweden, with significant interest from British individuals signing up for the international waiting list.
Backstory
Neko Health’s journey began in 2018 when Ek, along with entrepreneur Hjalmar Nilsonne, founded the startup. Prior to the official launch, the company operated in stealth mode, with Ek personally investing around €30 million, partly through his investment vehicle, Prima Materia. The duo’s decision to expand to the UK was strategic, considering London’s status as a hotspot for longevity investments in Europe.
Ek’s interest in healthcare stems from a desire to disrupt an industry he views as bloated and inefficient. Despite being occupied with challenging tech giants like Apple, YouTube, and Amazon Music through Spotify, Ek found time to explore healthcare solutions. He delved into medical journals, meticulously tracking his vital signs using devices like Fitbit, Apple Watch, and Wii Fit. “I was like adamant to fix it,” he shared with DealBook, “I was merely exploring health care ideas.” The shift towards healthtech became more pronounced after Spotify’s successful IPO in 2018, solidifying Ek’s resolve to address healthcare challenges.
Teaming up with Nilsonne, whose passion for disruption matched his own, Ek embarked on building Neko Health as a means to promote disease prevention and longevity. Their collaborative effort resulted in a cutting-edge diagnostic tool aimed at revolutionizing annual health checkups. This venture represents Ek’s commitment to leveraging technology and capital to drive meaningful change in healthcare and extend human lifespan.
