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Monday, March 4, 2024

MiyaHealth gets some more funds to expand its healthtech business

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MiyaHealth has secured an undisclosed amount of investment from HealthXCapital, SEEDS Capital, and Central Capital Ventura. The Singapore-based health technology company had raised $4.8 million in a pre-Series A round earlier this year.

MiyaHealth, a Singapore-based health technology company, has received an undisclosed sum of funding from HealthXCapital, Central Capital Ventura, and SEEDS Capital. This is in addition to the $4.8 million it raised earlier this year in a pre-Series A round.

The startup, which was founded in 2019, provides two technology platforms: MiyaPatient, a navigation platform that assists patients in managing chronic illnesses, and MiyaPayor, which combines AI-powered claims processing and predictive analytics. It is developing a third product, MiyaProvider, to improve the patient experience in hospitals and clinics.

These platforms are currently used by over 3,000 medical providers and 12,000 physicians. The additional funding, according to the company, will aid in product development, hiring, and expansion plans.

It will specifically support its efforts to launch MiyaPatient in Europe for the first time, as well as the MiyaPayor and MiyaProvider platforms in Indonesia and the Philippines.

MiyaHealth also revealed that it is planning to launch a Series A fundraiser “within the next six months,” with the proceeds going to “further develop its product suite, expand its operations globally, and continue embarking on collaborations with key stakeholders moving forward.”

With rising demand, Asia’s consumer-centric digital health ecosystem is expanding. According to a McKinsey & Co. report, the region’s digital health market could be worth $100 billion by 2025, up from $37 billion in 2020.


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