Spotify Billionaire's $500 Body Scan Lands in America, Because Nothing Says 'Preventative Care' Like a Swedish Tech Bro
A Swedish startup co-founded by a Spotify billionaire will charge you $500 for a one-hour scan that insurance won't cover, and somehow this is supposed to fix American healthcare.
Neko Health, the body scan startup co-founded by Spotify's David Ek and Hjalmar Nilsonne, has officially touched down in New York, presumably with a carry-on full of advanced technology and a dream. The company, which was founded in Sweden, has raised nearly $1 billion total and already has a global waitlist topping 300,000 people, because nothing screams "I'm proactive about my health" like joining a digital queue for a machine that judges your blood, skin, and metabolism.
The scan itself is a one-hour affair that uses advanced tech to screen for issues in the blood, skin, and metabolism. It costs $500, is not covered by insurance, but should qualify as an acceptable expense for those with Health Savings Accounts - because who doesn't love paying out of pocket for the privilege of being told to eat more kale?
TechCrunch sat down with Farooq Abbasi of Preface Ventures, an investor in the company, who hopes Neko Health can be the future of preventative medicine, especially in the United States, where the medical system is notoriously plagued with issues like cost, access, and the general vibe of a haunted house. Abbasi contends that preventative care utilization is low in the U.S. because people are worried about how much it costs - a concern that is both valid and, apparently, not solved by charging $500 for a scan.
"I think preventative care and healthcare should be cheap and accessible," Abbasi said, presumably with a straight face, while his portfolio company charges half a grand for a hour-long checkup. The hope is that Neko Health can tackle some of these issues, and it's currently eyeing an expansion across the U.S. Abbasi has been scanned twice already and, perhaps no surprise, says he loves it. "I think there should be Neko clinics everywhere," he said, which is exactly what you'd expect from a man who has a financial stake in Neko clinics being everywhere.
He says the product has grown so much since he first tried it. "In my generation one scan, it was a blood test with 15 biomarkers," he said. "It was fifty-five this time." That's a 266% increase in biomarkers, which is the kind of stat that makes venture capitalists weak in the knees.
Neko also uses advanced computer vision for its scans, and Abbasi sees this as another example of how AI is improving the medical sector overall. He argues that Neko Health isn't just another wellness fad, but something that gives people "actionable insights to make their lives better," which is a nice way of saying it tells you your cholesterol is high and you should probably stop eating so much cheese.
Neko still has a long way to go in the U.S., especially on scaling and regulatory approval - two minor hurdles that have never stopped a tech startup before. But Abbasi is an optimist; he hopes more venture dollars will pour into the right companies and doesn't think anything is too broken to fix. Which is good, because the U.S. healthcare system is definitely not too broken to fix. Definitely not.
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