Singapore-headquartered SaaS healthtech company MiyaHealth has closed SGD2.4 (US$1.8) million pre-Series A extension, bringing the total investment to SGD10.4 (US$7.7) million to date.
Fondation Botnar, represented by Sagana (an impact investment advisory firm focused on human and planetary health), besides existing investors ST Engineering Ventures, Elev8, and HealthXCapital, invested in this round.
This extension follows its pre-Series A financing of SGD6.5 million and SGD1.5 million in February 2022 and August 2022, respectively.
The fresh funds will be used to expand Miya Health’s AI-driven interoperable digital healthcare solutions across Europe and Southeast Asia, starting with Poland, Indonesia, and the Philippines.
By the end of 2023, it plans to onboard more partners, including insurers, hospitals, and governments, to tailor solutions that will scale up healthcare access and efficiency in these countries and future markets of interest, such as Thailand, Vietnam, and the Middle East.
Also Read: MiyaHealth adds more funding to pre-Series A round
MiyaHealth will also expand its leadership team with strategic hires adept in commercial strategy and client servicing.
Founded in 2019, MiyaHealth helps patients choose affordable healthcare, manage their chronic illness, and improve the patient experience. It leverages AI, predictive analysis, and optimised data infrastructure to create the optimal patient experience.
Last year, the healthtech firm partnered with companies, including Bioton in Poland, to create a diabetes management platform adapted from MiyaHealth’s proprietary product, MiyaPatient and its AI-driven avatar MiyaAvatar, to help doctors manage patients remotely.
MiyaHealth is also in the final stages of closing multiple 10-year contract deals for MiyaPayor and MiyaProvider in the Philippines and Indonesia.
The firm hopes to raise Series A in Q1 2024 and continue to develop its product offerings and technological capabilities, expand its operations and partnerships, and strengthen its leadership team to scale up global health systems to serve the needs of patients.
Dr Ramesh Rajentheran, CEO and Co-Founder of MiyaHealth, said: “We believe that working together with players across the value chain is vital in tackling healthcare fragmentation. With our new hire, Kevin Yeap, spearheading commercial and customer success, we are confident that we can continue to create value for our partners as well as patients.”
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Image Credit: Miya Health
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