HealthXCapital, Central Capital Ventura, and Seeds Capital have contributed further capital of an unknown sum to the Singapore-based healthtech company MiyaHealth. The funding comes after the startup’s February $4.8 million pre-series A round.
The company, which was established in 2019 by Ramesh Rajentheran, Bevan Cheong, and Shirley Ah Hee, presently provides two AI-powered services: MiyaPayor, a platform that lowers healthcare costs through smart claim processing and predictive analytics, and MiyaPatient, a navigation tool that helps people with chronic diseases deal with their daily challenges.
The MiyaProvider product, which MiyaHealth is developing, intends to enhance patients’ experiences in hospitals and clinics. More than 3,000 medical service providers and 12,000 doctors have collaborated with the company thus far.
The firm will utilize the additional funding for product development, hiring more employees, and business growth as it looks to expand into Southeast Asia and Europe. The business added that it plans to pursue a series A financing over the next six months.
Healthcare third-party administrators are a US $4 billion business in Asia, according to Seemant Jauhari, managing partner at HealthXCapital.