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MiyaHealth CEO and Co-Founder Dr Ramesh Rajentheran
Singapore-based healthtech company MiyaHealth has secured SGD6.5 (US$4.8) million in a pre-Series A financing round led by ST Engineering Ventures, the venture arm of ST Engineering, and Elev8.
Several prominent unnamed angels also participated in the round, bringing the startup’s total capital raised to over US$6.7 million.
“Healthcare is now at a place of unprecedented progress as the ongoing pandemic and rapid digitalisation continues to drive tech-first innovations throughout the industry. Nonetheless, even with such technological advancements, it’s important that we never lose sight of what truly matters in our healthcare efforts — the patients,” said Dr Ramesh Rajentheran, CEO and Co-Founder of MiyaHealth. “MiyaHealth stands ready to optimise the healthcare experience for all patients.”
Founded in 2019, MiyaHealth helps patients choose affordable healthcare, manage their chronic illness, and improve the patient experience. It leverages artificial intelligence, predictive analysis, and optimised data infrastructure to create the optimal patient experience.
Also Read: What telemedicine and Health Tech holds across SEA amidst COVID-19
MiyaHealth offers two flagship product suites:
- MiyaPayor: a single platform that incorporates AI-driven claims processing, provider network management and predictive analytics to reduce healthcare costs for payors
- MiyaPatient: a patient navigation platform that includes a predictive and personalised system that helps patients with chronic diseases cope with their daily challenges.
Its upcoming product, MiyaProvider, will help improve the patient experience in hospitals and clinics.
To date, MiyaHealth has partnered with over 3,000 medical providers and 12,000 physicians for its flagship platforms, which includes a partnership with a leading Indonesian hospital group.
The startup said in a press statement that it will use the capital raised from the latest round to accelerate its product development and expansion plans. This includes introducing MiyaPayor to Indonesia, deploying MiyaPatient in Europe, and launching its first MiyaProvider solution across Malaysia in the next quarter.
It will also be expanding its headcount across its Singapore, Kuala Lumpur and Jakarta offices.
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