Singapore – Mito Health, a healthtech startup based in Singapore, has successfully raised an additional US$2.2 million in seed funding, bringing its total funds raised to US$4 million. This latest funding round was led by Forge Ventures, with participation from a new set of investors, including prominent names from the technology and investment sectors.
Notable backers include Y Combinator, Capital X, XA Network, and American entrepreneur Balaji Srinivasan, alongside high-profile figures such as Kevin Aluwi from Gojek, Alex Svanevik from Nansen, Prashanth Prakash of Accel, and Dhruv Arora from Syfe, among others.
The company announced that the new capital will be used to fuel its expansion into the United States, where it plans to broaden its operations in the coming months and years.
Growth in the U.S. Market
Mito Health, which focuses on utilizing artificial intelligence (AI) to augment medical expertise and create personalized health plans, had previously raised S$1.7 million in pre-seed funding in 2023. The platform uses AI to analyze diagnostic results and wearable data to optimize health and extend users’ health span—the years lived free from disability or disease.
Co-founder and CEO Kenneth Lou revealed that Mito Health, which launched in San Francisco last summer, has since expanded to all 50 states in the U.S. The startup has partnered with major lab providers, including LabCorp and BioReference, to offer a comprehensive blood testing service that monitors over 100 biomarkers, helping customers detect early signs of disease and optimize their health.
Focus on Digital Platform in Singapore
Despite its growth in the U.S., Mito Health will be scaling back its in-person blood draw services in Singapore. Lou explained that the decision is part of a strategic shift to concentrate on the development of its AI-powered health platform. However, Mito Health will continue to serve its Singaporean users through its digital platform, allowing them to upload lab results and receive personalized medical analysis online.
Mito Health aims to serve health-conscious individuals seeking proactive health strategies that extend beyond traditional annual checkups and supplements.
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