East Ventures Leads $3.5M Series A Round for Singapore’s Mesh Bio in Healthtech Boost

Singapore-based health-tech startup Mesh Bio has secured $3.5 million in Series A financing led by East Ventures, a venture capital firm focused on Southeast Asia. Elev8, Seed Capitals, and existing shareholders also participated in the round. 

This funding will enable Mesh Bio to expand its digital twin technologies to healthcare providers in Hong Kong and Southeast Asia, particularly Indonesia and the Philippines.

Mesh Bio’s recent Series A funding comes after Singapore’s regulatory approval and implementation progress. Just three months ago, the company received approval from Singapore’s Health Sciences Authority to market its HealthVector® Diabetes as a Software Medical Device. This approval paved the way for an implementation pilot at prominent healthcare institutions, including Singapore General Hospital and Tan Tock Seng Hospital. 

Dr. Andrew Wu, Co-Founder and CEO of Mesh Bio, expressed enthusiasm about the funding round, stating, “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.”

“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,” he added. 

Mesh Bio, established in 2018 by Wu and Chief Technology Officer Arsen Batagov, focuses on tackling the rising global clinical burden of metabolic diseases linked to aging populations and healthcare delivery challenges. 

The startup’s previous funding included a $1.8 million seed round in October 2021. Its digital solutions aim to support healthcare providers in managing patients with chronic diseases, such as diabetes and heart disease, prevalent in Southeast Asia.

In 2022, Mesh Bio reported revenue of S$361,931, marking an increase from S$191,619 in the previous year. However, the company’s losses widened in 2022, reaching S$1.5 million compared to S$990,466 in 2021. Despite financial challenges, Mesh Bio remains dedicated to leveraging predictive analytics and patient data to equip healthcare professionals with valuable insights for enhanced patient care and disease management.

Mesh Bio’s DARA® Health Intelligence Platform, designed to facilitate data-driven care delivery and enhance patient engagement, has garnered adoption from over 120 medical centers spanning Singapore, Malaysia, and Indonesia. The platform’s preventive health screening capabilities have been instrumental in advancing proactive healthcare practices.

Willson Cuaca, Co-Founder and Managing Partner at East Ventures praised Mesh Bio’s pioneering approach to predictive analytics, recognizing its potential to transform healthcare delivery. East Ventures, established in 2009, has been a key player in supporting tech startups across Southeast Asia, including notable companies like Tokopedia, Traveloka, and Ruangguru, among others.

Also Read:

• East Ventures and SV Investment Inject $100m Fund to Supercharge Tech Startups in Southeast Asia
• Indonesian startup Bababos closes pre-seed funding led by East Ventures
• Indonesian startup Flik scores $1.1m in East Ventures-led funding round
• Startup Boost: SBVA Renames Itself for Expanded Impact
• Hustling and differentiation! Pinkoi’s two main weapons for confronting challenges head on