Singapore, 30 January 2024 – Mesh Bio, a Singapore-based health deep tech startup transforming chronic disease management through predictive analytics, announced today that it has raised US$3.5 million in Series A financing led by East Ventures, a pioneering and leading sector-agnostic venture capital firm focusing on Southeast Asia. This round of investment is also participated by Elev8, Seed Capitals, and other existing shareholders.
The funding will allow Mesh Bio to offer its digital twin technologies to healthcare providers and scale the deployment of these solutions across Hong Kong and Southeast Asia, mainly Indonesia and the Philippines.
This new investment comes three months after Mesh Bio secured historic regulatory approval and an implementation pilot with public health systems for one of its digital twin technologies in Singapore, which represents a major opportunity to improve patient outcomes from chronic diseases. 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.
About Mesh Bio
Mesh Bio is a digital health startup focused on addressing the growing global clinical burden of metabolic diseases due to aging population, and challenges in care delivery. Mesh Bio develops clinical decision support analytics and automation solutions for management of chronic disease, such as cardiovascular disease. The DARA® Health Intelligence Platform enables data driven care delivery, improving patient engagement, and health outcomes.
About East Ventures
East Ventures is a pioneering and leading sector-agnostic venture capital firm. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, from Seed to Growth stage investments, for over 300 tech companies across Southeast Asia.
As an early believer in the startup ecosystem in Indonesia and the most active investor in Southeast Asia, East Ventures is an early backer of prominent tech companies in the region, such as Tokopedia, Traveloka, Ruangguru, ShopBack, Waresix, Xendit, IDN Media, KoinWorks, Sociolla, Tech in Asia (acquired by SPH), Kudo (acquired by Grab), Loket (acquired by Gojek), and MokaPOS (acquired by Gojek).
East Ventures was named the most consistent top-performing VC fund globally by Preqin and the most active investor in SEA and Indonesia by various media. Moreover, East Ventures is Indonesia's first venture capital firm to sign the Principles of Responsible Investment (PRI), supported by the United Nations (UN). East Ventures is committed to achieving sustainable development and positively impacting society through its initiatives and ESG-embedded practices.
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Mesh Bio is a part of our Batch 5 GIA Jakarta Program in Indonesia and Batch 2 Startup Creasphere APAC Program.
Written by: Mesh Bio
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