Well being tech startup MiyaHealth secures $5M funding for Indonesia, Malaysia rollout

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MiyaHealth, a well being tech startup from Singapore, has scored SG$6.5 million ($4.8 million) in a pre-Collection A funding spherical led by Singapore Applied sciences Engineering Ventures, the enterprise capital arm of listed engineering group ST Engineering, and deep tech investor Elev8.

This brings its complete investments raised to over SG$9 million ($6.6 million).

WHAT IT DOES

Established in 2019, MiyaHealth is at present providing two tech merchandise. One is MiyaPatient, a affected person navigation platform that’s constructed with a predictive and personalised system to assist customers handle their continual sickness. One other is MiyaPayor, a platform that mixes AI-driven claims processing and predictive analytics and assists insurers and corporates in designing well being plans and bringing down administrative and medical prices in healthcare.

The corporate is developing with a 3rd providing, MiyaProvider, which is able to assist improve affected person expertise in hospitals and clinics.

Presently, the startup has shaped connections with over 3,000 well being suppliers and 12,000 docs.

WHY IT MATTERS

MiyaHealth stated it is going to deploy its recent funds for product growth and growth. Particularly, will probably be used to introduce MiyaPayor in Indonesia and launch MiyaProvider in Malaysia by the second quarter. It additionally plans to carry MiyaPatient for the primary time to Europe. 

To accompany its buildout, the corporate is recruiting extra employees in its places of work in Singapore, Kuala Lumpur, and Jakarta.

“MiyaHealth stands able to optimise the healthcare expertise for all sufferers, and we’re excited for this new chapter as we deepen our product functionality whereas sharing the fruits of our innovation with new markets throughout Asia and Europe,” CEO and co-founder Dr Ramesh Rajentheran stated in a press release.

MARKET SNAPSHOT

Singapore’s digital well being sector has drawn steady investor assist within the new 12 months. Mind, a startup within the psychological well being house, closed a $10-million Collection A spherical in late-January. Company wellness platform MindFi additionally bagged $2 million in a seed funding spherical, which will probably be used to localise its product throughout Asia-Pacific.

Asia’s digital well being market might doubtlessly attain a price of $100 billion by 2025 from simply $37 billion in 2020, based on a report by McKinsey & Co. The expansion is claimed to be pushed by a rising consumer-centric digital well being ecosystem and rising demand.



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