Full body medical scanning startup Neko Health nabs $260 million in funding

The news: Full body medical scanning startup Neko Health bagged $260 million in Series B funding that values the company at $1.8 billion, according to Axios. The round was led by Lightspeed Venture Partners, with General Catalyst, O.G. Venture Partners, Rosello, Lakestar, and Atomico also participating.

How it works: Neko scans take 15 minutes and use a mix of thermal scanners, EKGs, and sensors to detect conditions such as skin cancer, heart disease, or Type 2 diabetes. Scans are followed up by doctor’s visits at Neko’s clinics to track patients’ health changes over time.

Why it matters: Full body medical scanning startups have been the subject of debate, particularly due to the cost of their services.

  • For example, Ezra and Prenuvo—two of Neko’s competitors—focus on MRI scans, with options ranging from $1,000 to upward of $2,700.

If Neko can make full body medical scanning more affordable (it’s currently not covered by insurance), it could open up access to its services to a wide swath of consumers eager for a holistic view of their overall health.

Our take: Neko feels overvalued at $1.8 billion, especially considering consumers' affordability challenges when it comes to paying for health services.

While celebrities have used and endorsed the services of full body scan startups on social media, they typically have deep enough pockets to afford them—unlike the average consumer.

  • Neko plans to launch in the US, where over two-thirds of consumers (67%) say healthcare costs are a financial burden to them and their families, per a January 2024 West Health-Gallup survey.
  • At ÂŁ299, or about $380 out-of-pocket (which will likely be the case in the US as it is in Europe), a single scan isn’t cheap—or a medical necessity.

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