Daily Management Review

Spotify founder's biotech startup raises $260 million to open clinics in US


01/24/2025


Neko Health, a company focused on body-scanning diagnostics, has secured $260 million to launch its clinics across the US, according to the Financial Times, referencing the startup's founder Daniel Ek, who is also the CEO of Spotify.



Spotify founder's biotech startup raises $260 million to open clinics in US
Ek established Neko in Sweden in 2018 along with businessman Hjalmar Nilsonne, who is the startup's CEO. The initial clinics were launched in Stockholm in 2023, during which Neko secured $65 million from backers. In 2024, the startup established its network of clinics in London.

The most recent funding round increased Neko's valuation to $1.7 billion, according to the FT. The fresh funding will enable the startup to enter new markets, such as launching clinics in the US, after it obtains the required regulatory permits. The funding round was spearheaded by investment company Lightspeed Venture Partners, which has also invested in Elon Musk's xAI, Stripe, and Epic Games. Additional investors comprise Lakestar, Atomico, General Catalyst, and OG Venture Partners.

Neko seeks to transform healthcare. The startup has created exclusive technologies for disease diagnosis, including a body scanning method that evaluates cardiovascular health, blood levels, or the existence of skin cancer. Nilsonne points out that roughly 75% of the information in the scan comes from Neko's own medical equipment.

source: ft.com