Healthtech startup Mesh Bio raises US$3.5 million in Series A round

SINGAPORE-BASED healthtech startup Mesh Bio, which aims to use predictive analytics to manage chronic diseases, has raised US$3.5 million in a Series A funding round, bringing its total funding raised to US$5.3 million.

Venture capital (VC) firm East Ventures led the round, which also had participation from deep-tech VC Elev8; and Seeds Capital, the investment arm of Enterprise Singapore.

The funding, announced on Tuesday (Jan 30), will go towards scaling the deployment of Mesh Bio’s predictive software to more healthcare providers in Indonesia and the Philippines, and for expansion into Hong Kong.

Chief executive Andrew Wu said Mesh Bio is seeking regulatory approvals in these markets.

The startup had received regulatory approval from Singapore’s Health Sciences Authority in October 2023 for a software that estimates kidney disease risk in adult diabetes patients.

The product is being piloted at Singapore General Hospital, Tan Tock Seng Hospital and selected polyclinics.

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Mesh Bio also offers a data-driven preventive health screening platform, which the company said has been deployed at more than 120 medical centres across Singapore, Malaysia and Indonesia.

Mesh Bio was founded in 2018 by Wu and chief technology officer Arsen Batagov.

The company reported revenue of S$361,931 in 2022 – the latest year for which financial data is available – up from S$191,619 in 2021, according to financial filings obtained from data platform Alternatives.pe. Its losses in 2022 widened to S$1.5 million from S$990,466 in 2021.