Startup of the Day: Ukrainian-founded medical data bank DeHealth
DeHealth was established by Anna Bondarenko and Denys Tsvaig and now headquarters in the UK and with research centers in Israel, the US and New Zealand. DeHealth provides the decentralized application that allows users to securely and autonomously store their medical data in one storage, share, manage and monetize it using the DHLT token, support their health while selling their anonymized data.
DeHealth acts as a middleman between people and entities collecting a service fee. Currently, DeHealth dApp are used in over 80 countries, with most users from Indonesia, India, Ukraine, Turkey, Nigeria, Vietnam, US, Singapore, and has a community of over 130,000 active members across social media platforms.
In the Startup of the Day column, the co-founder of DeHealth Anna Bondarenko shares more details about the startup’s idea, its product, and future plans.
“The Startup of the Day column on AIN.Capital is dedicated to tech projects from all sectors that originated from the CEE countries. If you would like to introduce your project, please fill in the questionnaire.”
Tell us about your startup. How does it work?
We are building a Web3 & AI-based web app and a health data storage for B2B2C. Users can share, manage, and monetize their data directly on dApp.
- manufacturers of vitamins and minerals
- biotech companies
- beauty companies
- anti-aging companies
- clinics and medical laboratories
- manufacturers of medical equipment
- manufacturers of lifestyle clothing and gadgets
- superfood manufacturers
- scientists and data scientist
- Hospitals & Labs
- Health Research Pharma
- Health Retailers & DTXs
DeHealth acts as a middleman between individuals (Data Owners) and entities (Data Buyers) collecting a service fee. Medical Data Suppliers can upload patient’s medical data directly to the platform in a few clicks.
Every time a person’s disidentified medical data is sold, they receive rewards in the form of DHLT tokens, while DeHealth and Medical Data Suppliers receive a service fee. Due to the sensitive nature of data, DeHealth has developed a smart ecosystem of software to ensure security, good user experience, and seamless integration for data providers.
How did you come up with the startup’s idea? What was the reason/motivation behind it?
Our dream to give billions of people a helpful product to keep people healthy. By creating a medical data bank, we made it possible for everyone to store all their medical data in one place and have access to it 24 hours a day, seven days a week, if necessary, and share their data with their doctor anywhere in the world and monetize their anonymous data.
Data is the new gold. Based on medical data, modern medicines are created, new medical technologies and gadgets, and innovative treatment protocols are being developed that help people fight diseases. And also, one of the most important values of the data is that many diseases can be prevented by knowing what changes precede this or that disease. Also, data is not only a guarantee of health, but also a valuable asset owned by the person who generated the data. Many people don’t even know that the medical data market is already worth tens of billions of dollars annually. This is an excellent opportunity to earn passively by selling your anonymous data to research centers, pharmaceutical companies, etc., to develop science and medicine.
How long did it take to reach the prototype or MVP? What did you encounter?
We started to realize our dream in 2019. The first step was to attract a top manager from a big farm in London, who helped to draw up a business strategy.
The second step is the Pilot project (2019-2021). We absorbed the Ukrainian medical information system Askep, which had more than 800,000 users at that time. We’ve taken a 25% share of the Ukrainian market in 2 years: more than 34,000 doctors and 3,200,000+ patients trust ASKEP DeHealth Web 2.0 digital ecosystem for healthcare, demonstrating our ability to infiltrate and capture the local market.
The third step was the development of the MVP of the global data warehouse and web application, the development of the blockchain, and the release of its own DHLT token.
When exactly did you launch your product? Or when the launch is planned?
At the end of August 2022, the team released a web app, and here is the traction during 3 months: over 70,000 DeHealth dApp users from more than 80 countries.
Tell us about the stratup’s business model. How do you monetize your product?
DeHealth is a Subscription-Based App that runs by a marketplace model. DeHealth acts as a middleman between people (Data Owners) and entities (Data Buyers) collecting a service fee. Premium model, with the annual subscription to Premium to User dApp averaging at 100 DHLT.
What are your target markets and consumers?
Our market is the whole world. These are representatives of corporations and local manufacturers of medicines, vitamins and minerals, biotech companies, beauty companies, anti-aging companies, clinics and medical laboratories, manufacturers of medical equipment, manufacturers of lifestyle clothing and gadgets, superfood manufacturers, scientists and data scientists, etc.
We have a Go-to-market strategy, according to which we will enter new regions every year — capturing local markets. The company uses the services of an international MM (market maker) company, which satisfies the high demand and accepts the market offer to avoid high volatility and provide investors and traders with comfortable trading conditions.
At the moment we’re negotiating and establishing soft commitments with pharma and wellness companies, such as Novartis, NovoNordisk, AstraZeneca, Johnson & Johnson, Bayer, L’Oreal, Medicana.
If the startup has already launched the product, what are the results: metrics, income, or any clear indicators that can be evaluated.
At the end of August 2022, the team released a web app, and here is the traction during 6 months:
- 70,000+ DeHealth dApp users from 80+ countries over 4 continents
- Community 130,000+ active members across social media platforms
- Advisors and team are ex-Google, ex-Meta, ex-Dentons, ex-Novartis, ex-Roche, ex-Merck
- Nominations at international summits and conferences in Digital Health, AI, and Web3 categories (5 MWC 2023/4YFN, WebSummit, MedTech, Next Block Expo, Paris Blockchain week)
What about your team? How many people are working in the startup? If you’re looking for new employees, indicate whom exactly.
We have 19 team members from 8 countries and powerful advisory board, these are specialists from the medical, technological and crypto industries. We are always open to talented people in our project, especially big data, digital medicine and web3 experts.
Have you already raised any investments? Provide us with more details on each funding round: the amount, investors, the purpose of the investment.
- (2019-2021) Founders’ investments
- (2022) Pre-Seed round — $1 million in DHLT tokens
- (2022) IDO Public Round — $600,000 in DHLT tokens
What’s next? Tell us about your future plans.
Now we are ready to raise the seed round to get a million users by the end of this year, integrate with clinics and medical information systems, and collect tens of millions of medical data in various directions for sale to data buyers.