SINGAPORE - Singapore government-owned deep technology development firm SGInnovate has invested in MediLOT Technologies, a Singapore-based blockchain and healthcare analytics start-up, for an undisclosed amount as part of its strategy to develop research-based deep tech start-ups.
The start-up said in a statement that its decentralised health data platform, MediLOT, is built on "blockchain, artificial intelligence and database management system technologies for patients, healthcare providers, researchers and commercial companies" which are integrated with "patient centricity, privacy and equitable data sharing".
This, MediLOT Technologies said, will allow "patients and doctors to fully unlock the value of their health data for better diagnoses and more effective treatments".
Tong Hsien Hui, SGInnovate's head of venture investing, said: "MediLOT has assembled a great team with a vision to build an interoperable decentralised platform that can be used by all healthcare providers to extract greater value from healthcare records, affording patients better diagnoses and more effective treatments.
"Their vision is in line with SGInnovate's mission to help develop high potential companies with products that will have global impact. We are proud to back MediLOT in their journey to transform the healthcare industry around the world."