Singapore-based health technology company MiyaHealth has received an undisclosed investment sum from HealthXCapital, Central Capital Ventura and SEEDS Capital.
This is in addition to $4.8 million he raised in a pre-Series A round earlier this year.
Founded in 2019, the startup offers two technology platforms: MiyaPatient, a navigational platform that helps patients manage their chronic disease, and MiyaPayor, which combines AI-based claims processing and predictive analytics. It offers a third offering, MiyaProvider, which aims to improve the patient experience in hospitals and clinics.
Currently, more than 3,000 medical providers and 12,000 physicians use these platforms.
WHAT’S THE POINT
The company said the additional funding will help bolster its product development, hiring and expansion plans. Specifically, he will help deploy MiyaPatient for the first time in Europe and the MiyaPayor and MiyaProvider platforms in Indonesia and the Philippines.
THE GREAT TREND
Along with the announcement, MiyaHealth also revealed that it is preparing to launch a Series A fundraiser “within the next six months,” the proceeds of which will help “further grow its product line, expand its operations across the scale and continue to engage in collaborations with key stakeholders moving forward.”
Asia’s consumer-centric digital health ecosystem continues to grow with increasing demand. The region’s digital health market has been predicted to reach $100 billion in value by 2025 from $37 billion in 2020, according to a report by McKinsey & Co.