Mesh Bio, a Singaporean health-tech startup, has raised US$1.8 million in a seed funding round, led by deep-tech investor Elev8.vc and SEEDS capital.
Wealth management firm Citrine Capital as well as Singaporean VC firm Tael Partners also joined the round.
Mesh Bio intends to use the capital to accelerate the rollout of its solution, DARA, for healthcare providers in Southeast Asia and Hong Kong. The funds will also support the startup’s clinical partnerships and collaborations.
The two-year-old company was started by Andrew Wu (former COO of Clearbridge Biomedics) Arsen Batagov ( former bioinformatics scientist) and Melvin Heng ( physician and hospital administrator) when they noticed the rise in chronic diseases, making patient management increasingly complex and challenging.
Their solution helps specialists, general practitioners and doctors lacking specialist training in endocrinology predict diseases before it even occurs.
Furthermore, it also manages challenging patient cases by drawing in-patient data and translating it into actionable insight.
Mesh Bio claims to have helped healthcare providers in Singapore increase report generation by up to five times with decreased human error.
Its solution has also delivered over 60 per cent operational savings and 99 per cent in revenue growth.
Aditya Mathur, founder of Elev8.vc said: “Rapidly ageing populations across the world deserve far better healthcare. Mesh Bio’s predictive analytics offers a clinically validated technology to detect and support chronic diseases before they even occur.”
According to Deloitte, predictive analytics will play a central role in improving health and reducing mortality rates across age groups.
Digital health technologies have increasingly grabbed investor attention ever since the onset of the pandemic.
In 2020, the Asia Pacific digital health ecosystem closed US$6.14 billion in VC funding, 25 per cent higher than 2019. The top-funded cluster was medical diagnostics.
Image Credit: Mesh Bio
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