SINGAPORE (February 02, 2024) – Mesh Bio, a Singapore-based health deep tech startup using predictive analytics to transform chronic disease management, announced today that it has raised US$3.5 million in Series A financing led by East Ventures, a trailblazing, industry-leading venture capital firm with an emphasis on Southeast Asia. Elev8, Seed Capitals, and other current investors are also involved in this fundraising round.
With this funding, Mesh Bio plans to expand the implementation of its digital twin technologies throughout Southeast Asia, primarily Indonesia and the Philippines, as well as Hong Kong, by providing them to healthcare professionals.
Three months ago, Mesh Bio achieved a significant milestone in improving patient outcomes from chronic diseases by obtaining historic regulatory approval and securing an implementation pilot with public health systems in Singapore for one of its digital twin technologies. This latest investment follows suit.
In October 2023, it received approval from Singapore’s Health Sciences Authority (HSA) to market its HealthVector Diabetes as a Software Medical Device (SaMD). HealthVector Diabetes is currently used in an implementation pilot at Singapore General Hospital (SGH), Tan Tock Seng Hospital (TTSH), and selected polyclinics for potential clinical adoption.
“We are excited to announce the closure of our Series A funding, this pivotal step empowers us to expand our digital health solutions for chronic disease management in Southeast Asia,” said Dr. Andrew Wu, Co-Founder and Chief Executive Officer of Mesh Bio.
“Southeast Asia presents myriad unmet healthcare needs, and our focus is to address these gaps effectively. With East Ventures’ support, we are poised to support the rapid digital transformation of healthcare systems in this region to improve lives. We deeply appreciate their belief in our mission and commitment to healthcare innovation,” Wu continued.
The high prevalence of chronic diseases from diabetes to heart disease in Southeast Asia has pushed more general practitioners who lack specialist training in endocrinology, to manage patients with chronic diseases. Mesh Bio delivers cutting-edge digital solutions to help healthcare providers with patient management. Its solutions offer patient data and predictive analytics that equip doctors with information and intelligence about their patients and the diseases they live with.
The company’s DARA Health Intelligence Platform, enables data-driven care delivery, which improves patient engagement and health outcomes, has been used by more than 120 medical centers across Singapore, Malaysia, and Indonesia for preventive health screening. Mesh Bio has expanded the platform to chronic disease management with HealthVector® Diabetes.
“We are glad to continue our support to Mesh Bio. In today’s rapidly evolving healthcare landscape, Mesh Bio stands out with its leading-edge technology that is set to revolutionize patient care delivery. Their innovative approach to harnessing predictive analytics is a game-changer, enabling more personalized and preventive healthcare services. We look forward to further collaboration in transforming healthcare systems in Southeast Asia and beyond,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.
Mesh Bio was founded in 2018 by Andrew Wu (Co-Founder and Chief Executive Officer) and Arsen Batagov (Co-Founder and Chief Technology Officer). Its previous funding rounds include a US$1.8 million seed funding round in October 2021.
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