Singaporean startup Mesh Bio has raised $3.5 million in a Series A funding round led by East Ventures. The round was also participated by Elev8, Seed Capitals, and its other shareholders.
WHAT IT’S FOR
In a statement, the company said it will use its fresh funds to scale the deployment of its solutions, particularly its flagship digital twin offering, across Hong Kong and Southeast Asia.
The World Health Organization revealed in 2019 that 76% of all deaths in the region were attributed to noncommunicable diseases such as heart diseases and diabetes. Mesh Bio has a targeted focus on both Indonesia and the Philippines where chronic diseases are said to be most prevalent and deadly. “Southeast Asia presents myriad unmet healthcare needs, and our focus is to address these gaps effectively,” said CEO and co-founder Dr. Andrew Wu.
THE LARGER TREND
The latest funding raise comes three months after Mesh Bio secured a regulatory clearance from Singapore’s Health Sciences Authority for HealthVector Diabetes. The digital twin-based software-as-a-medical device can predict a 3-year onset risk of chronic kidney disease in patients with type 2 diabetes by using clinical data pulled from hospital EMRs.
The digital twin solution, which is an expanded offering on Mesh Bio’s DARA Health Intelligence Platform, is now being trialled at Singapore General Hospital, Tan Tock Seng Hospital, and selected polyclinics in Singapore.
The development of HealthVector Diabetes was first reported in October.