S’pore-based healthtech startup raises US$2.2M from investors including Gojek, Syfe founders

Singapore-based healthtech startup Mito Health has announced that they successfully raised an additional US$2.2 million in seed funding today (March 18), bringing their total funds raised to US$4 million.

The funding round saw participation from the startup’s existing investor, Forge Ventures, and is joined by a new group of investors.

This includes Y Combinator, Capital X, XA Network, American entrepreneur Balaji Srinivasan, Kevin Aluwi from Gojek, Alex Svanevik from Nansen, Prashanth Prakash representing Accel and Dhruv Arora from Syfe, among many others.

In their announcement on Mito Health’s website, the founders shared that the fresh funding will be used to expand their operations in the United States in the coming months and years.

We look forward to being able to serve more clients, offer more tests, and securely bring all of your medical records into one place to give you the most personalised, cutting-edge health advice.

Making their mark in the States

Vulcan Post previously reported in 2023 that Mito Health had successfully raised S$1.7 million in pre-seed funding as it aimed to build a health platform powered by artificial intelligence (AI).

The startup uses the technology to augment medical expertise and create personalised health plans for customers based on their diagnostic results and wearable data. The platform’s primary focus is on optimising health to extend users’ health span—the years they live free from disability and disease.

Mito Health aims to serve the health-conscious demographic and individuals who are seeking strategies to maintain their health beyond annual checkups and supplements.

According to its co-founder and CEO Kenneth Lou, the startup has expanded to all 50 states in the US since its launch in San Francisco last summer, working with labs including LabCorp and BioReference. 

He added that its comprehensive blood testing service, covering over 100 biomarkers, has helped customers detect early signs of disease and achieve peak health.

With AI-assisted medical analysis connecting the dots between personal data and the latest research, Mito Health is able to pick up issues earlier and give better insights. 

As AI continues to advance, our vision of providing “an AI doctor in your pocket” grows ever closer to reality.

With regards to Singapore, Lou has also announced that the startup will discontinue its in-person blood draw services in the city-state in a bid to focus on its larger goal of building its AI-powered health platform.

However, he has also reassured that Mito Health would continue serving its Singaporean users via its digital platform, where users can continue to upload their lab results and receive medical analysis from there.

Featured Image Credit: Mito Health

‍