Miyahealth Raises Additional Pre-Series A Funding To Expand Global Footprint 

Singapore-based health tech startup MiyaHealth has announced raising additional funds in its pre-Series A round anchored by healthcare and technology investors including HealthXCapital, Central Capital Ventura, and SEEDS Capital.

This comes after MiyaHealth raised $6.5 million in pre-Series A in February this year, which was one of the largest pre-Series A rounds by a health tech start-up in Southeast Asia. MiyaHealth said it will use the fresh funds to accelerate the company’s product development, hiring, and expansion plans. The pre-Series A round earlier this year was led by ST Engineering Ventures, the corporate capital arm of Singapore Technologies Engineering (ST Engineering), and Elev8, a deep-tech B2B focused VC fund based in Singapore.

Miyahealth Raises Additional Pre-Series A Funding To Expand Global Footprint

Since its founding in 2019, MiyaHealth has introduced a number of products with the goal of enhancing consumers’ healthcare experiences and better meeting the demands of payers and healthcare providers.

This includes MiyaPayor, a platform that combines AI-driven claims processing, provider network management, and predictive analytics to reduce costs for payors, MiyaProvider, an upcoming product that enhances patients’ experiences in hospitals and clinics, and MiyaPatient, a patient navigation platform with a predictive and personalized system that helps patients with chronic diseases cope with daily challenges.

Dr Ramesh Rajentheran, CEO & Co-Founder of MiyaHealth said,

“Following our successful Pre-Series A fundraise, we are delighted to onboard new investors to further scale our product capabilities and expand our operations globally, starting with Europe and Southeast Asia,” 

Currently, MiyaPayor and MiyaProvider systems are being implemented in Indonesia and the Philippines, while MiyaPatient is being implemented in Europe. This comes after the MiyaPayor platform was commercialized in Malaysia last year.

“The pandemic has accelerated the need for governments, corporates, and insurers to contain health costs and improve health care outcomes. Patients are also more aware of and are increasingly vocal about the quality of their healthcare journeys. Having built our technology and established strategic relationships with ST Engineering during the pandemic, we are benefiting from this increased focus from payors and patients post-pandemic. At Miya, patients are at the heart of what we do, and that patient-centricity comes through in the products we have built.”

In the upcoming six months, the business also intends to begin its Series A fundraising in order to advance product development, expand operations internationally, and begin new relationships with important stakeholders.