Strategic View: Daniel Ek’s Neko Health secured €260 million in Q1 2025 to scale its AI-powered body-scanning technology across Europe. The Spotify founder’s preventative health venture attracted a club of growth equity investors betting on early disease detection through accessible full-body scanning clinics .
Full story: Spotify’s Daniel Ek is applying his platform-building expertise to an entirely different domain: preventative healthcare. Neko Health, his health-tech venture, closed a substantial €260 million funding round in Q1 2025—one of the largest European health-tech raises of the quarter and a bright spot amid generally subdued European venture activity. The capital will fund aggressive geographic expansion of Neko’s AI-driven full-body scanning clinics across major European cities .
The Neko model represents a fundamental reimagining of preventative care. Rather than waiting for symptoms to emerge before seeking medical attention, Neko offers comprehensive body scans using advanced imaging technology, AI-powered analysis, and biometric sensors to detect early indicators of disease—cancers, cardiovascular issues, metabolic disorders—when they’re most treatable. A typical Neko session involves a 360-degree body scan, blood analysis, and detailed health metrics captured in under 30 minutes, with AI algorithms flagging anomalies for physician review .
The investment club likely comprises growth equity funds with healthcare expertise, potentially including European health-tech specialists and possibly US crossover investors attracted by Ek’s track record. While specific investor names weren’t disclosed in available materials, the €260 million magnitude suggests participation from multiple institutional investors rather than a single lead. This “club” structure allows risk-sharing across partners while providing Neko with sufficient capital to execute an ambitious multi-country rollout .
The timing reflects both opportunity and necessity. European healthcare systems face mounting cost pressures from aging populations and chronic disease burdens, creating receptivity to preventative models that catch conditions early when treatment costs dramatically less than late-stage intervention. Simultaneously, AI and imaging technology have matured sufficiently that comprehensive body scanning—once prohibitively expensive and time-consuming—can now be delivered at consumer-friendly price points and timeframes. Neko positions itself at the intersection of these trends, offering a scalable preventative health model .
Strategically, the €260 million provides Neko with substantial runway to prove unit economics and clinical efficacy across multiple European markets before needing additional capital. The funds will support clinic buildouts in major cities, technology infrastructure development, clinical partnerships with traditional healthcare providers, and regulatory navigation across different European jurisdictions. Success requires demonstrating not just technical feasibility but also that early detection via comprehensive scanning generates sufficient health outcomes and cost savings to justify reimbursement by public and private insurers. If Neko cracks this code, the platform could redefine preventative care delivery across developed markets .
Summary: Neko Health’s €260 million Q1 2025 raise, one of Europe’s largest health-tech financings of the quarter, funds expansion of Daniel Ek’s AI-powered preventative scanning clinics across Europe. The club deal backs a platform reimagining early disease detection through accessible full-body scans, positioning comprehensive health screening as scalable consumer service rather than exceptional medical intervention .
Source: KPMG Venture Pulse Q1’25
