MiyaHealth raises additional Pre-Series A funding to expand global footprint
Singapore-based health tech startup MiyaHealth today announced that it had raised an undisclosed sum in additional funding from HealthXCapital, Central Capital Ventura, and SEEDS Capital after raising S$6.5 million (US$4.8 million) in Pre-Series A in February.
In a press statement, the company said that the funding would be used to drive MiyaHealth’s aggressive growth strategy in product development, hiring and expansion of operations globally.
“Following our successful Pre-Series A fundraise, we are delighted to onboard new investors to further scale our product capabilities and expand our operations globally, starting with Europe and Southeast Asia,” says Dr Ramesh Rajentheran, CEO & Co-Founder of MiyaHealth.
“The pandemic has accelerated the need for governments, corporates, and insurers to contain health costs and improve health care outcomes. Patients are also more aware of and are increasingly vocal about the quality of their healthcare journeys. Having built our technology and established strategic relationships with ST Engineering during the pandemic, we are benefitting from this increased focus from payors and patients post-pandemic. At Miya, patients are at the heart of what we do, and that patient-centricity comes through in the products we have built.”
The company is also planning to kick off its Series A fundraise in the next six months to develop its product suite further, expand its operations globally and continue embarking on collaborations with key stakeholders moving forward.
Since its inception in 2019, MiyaHealth has launched a suite of products that include MiyaPatient, a patient navigation platform with a predictive and personalised system that helps patients with chronic diseases cope with daily challenges; MiyaPayor, a platform that incorporates AI-driven claims processing, provider network management and predictive analytics to reduce costs for payors; and MiyaProvider, an upcoming product that improves patients’ experience in hospitals and clinics.
The company said that MiyaPatient is currently being deployed in Europe, and MiyaPayor and MiyaProvider platforms are being deployed in Indonesia and the Philippines. This follows the commercialisation of the MiyaPayor platform in Malaysia last year.
It has partnered with over 3,000 medical providers and 12,000 physicians to date for its flagship platforms, including its partnership with a leading hospital group in Indonesia.
MiyaHealth raises additional Pre-Series A funding to expand global footprint. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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