Singapore-based healthtech startup, Mito Health, announced today (April 18) that it has successfully raised S$1.7 million in an oversubscribed pre-seed funding round.
The funding round was led by Forge Ventures, with participation from several notable angel investors from the local startup community.
This includes Henry Chan and Joel Leong from ShopBack, Quek Siu Rui from Carousell, Jeffery Tiong from PatSnap, Oswald Yeo from Glints, Varun Mittal from Singlife, JJ Chai from Rainforest, Race Wong from Ohmyhome, and Damon Lye from ErgoTune.
According to the startup, it plans to utilise the funds to develop an artificial intelligence (AI)-powered health platform that aims to revolutionise preventative care. Particularly, the pre-seed funding will be used towards hiring and product development.
Powering AI-driven healthcare
The co-founders of Mito Health include Tee-Ming Chew and Kenneth Lou, who previously co-founded and exited Seedly after seven years; Joel Kek, who previously led engineering teams including TraceTogether at GovTech; and Dr. Ryan Ware, a former surgeon and resident.
Dr. Ryan, who is also Mito Health’s Chief Medical Officer, believes that personalised, preventative strategies are crucial in extending lifespan while preserving physical and cognitive quality of life, and AI will pave the way to widespread accessibility of bespoke care.
Mito Health uses AI 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’ healthspan — the years they live free from disability and disease.
The startup aims to serve the health-conscious demographic and individuals who are seeking strategies to maintain their health beyond annual checkups and supplements.
“Imagine having an always-accessible medical team that understands you well, helping you to improve health and performance. This currently exists for athletes and the ultrawealthy. Mito Health makes this accessible by combining deep medical expertise with advanced AI models,” said Joel, who serves as the Chief Technology Officer of Mito Health.
The startup guides users through rigorous optimisation cycles throughout their member experience using digital coaching in the areas of diet, exercise, supplements, and sleep.
The startup has an actively growing waitlist in Singapore and has begun seeing early clients for their product offering. Interested clients can join the waitlist for private beta access on their website.
Mito Health’s initial focus is on serving the executives demographic in Singapore, with plans to expand regionally into other developed markets.
With an ageing population and an increasing emphasis on healthy years, preventative healthcare is becoming more pertinent, and Mito Health’s mission to make personalised preventative care more accessible to the masses is definitely a step in the right direction.
Featured Image Credit: Mito Health
