According to a report by the World Bank and WHO, at least half of the world’s population cannot obtain essential health services, and it is completely unacceptable that half of the world still lacks coverage for the most essential health services. This results in delayed diagnoses, which are associated with unfavorable patient outcomes and elevated treatment expenses. Gaining access to crucial health information is a fundamental component of healthcare and personal well-being. It entails the capacity of individuals to acquire trustworthy and precise information regarding their health, medical conditions, available treatments, and preventive measures.
MX Labs is a health tech startup based in Tallinn, Estonia. The company was founded in October 2020 by Przemek Jaworski and Remigiusz Koscielny. Despite its recent establishment, MX Labs has quickly become a notable player in the digital health sector by using smartphone cameras for instant health advice. While the company’s founders are known, its relatively short history and innovative approach set it apart in the industry.
MX Labs is an advanced technology company dedicated to enhancing people’s health through camera-based comprehensive health assessments aimed at early detection and prevention. Using their cutting-edge technology called Shen.AI, they leverage the power of smartphones to provide diagnostic capabilities by analyzing facial skin texture and extracting real-time physiological indicators. This is achieved through the application of remote photoplethysmography (rPPG), a non-contact optical measurement technique that records blood pulsations in different vascular depths of the face.
Pain point addressed
MX Labs squarely addresses the challenge of delivering prompt and hassle-free health advice by introducing camera-based health screening through smartphones. This novel solution enables individuals to expeditiously access essential health information, making the journey from health concerns to expert guidance seamless and convenient. In doing so, MX Labs provides a rapid and user-friendly means for individuals to obtain critical health insights, thereby fostering early detection and informed choices in managing their personal well-being.
Type of solution
MX Labs specializes in delivering a software solution designed to harness the full potential of smartphone cameras for health screening for vital signs such as blood pressure, pulse, stress index, or HRV. This innovative software empowers users to leverage the cameras on their mobile devices to embark on a journey of health assessment. By seamlessly integrating cutting-edge technology and user-friendly interfaces, MX Labs has revolutionized the way individuals can monitor their well-being.
Through this software, users can capture valuable health data, enabling rapid and accurate assessments and ultimately contributing to proactive healthcare management. MX Labs’ commitment to software-based health screening underscores their dedication to making advanced health insights accessible to all via a familiar and readily available platform (the smartphone).
Type of input data leveraged
MX Labs employs sophisticated algorithms that harness input data from smartphone cameras for in-depth health assessments. Their cutting-edge software conducts a detailed analysis of the facial picture texture using the user’s phone camera and employs remote photoplethysmography (rPPG), a non-contact optical measurement technique. rPPG captures real-time physiological indicators by recording blood pulsations at various vascular depths within the facial region. This precise camera-based data forms the foundation for a comprehensive health screening and diagnostic support system. This innovative approach allows for a deeper understanding of an individual’s health status, relying on facial picture texture analysis and rPPG measurements, both of which provide valuable insights for healthcare assessments.
Key technology involved
MX Labs’ revolutionary methodology centers around the core technology of computer vision. Leveraging computer vision, MX Labs possesses the intricate ability to meticulously analyze images acquired through smartphone cameras, thereby facilitating comprehensive health screening with unparalleled precision. This sophisticated technology empowers the extraction of vital health metrics from visual data, ushering in a new era of efficiency and accuracy in the screening process. MX Labs’ unwavering dedication to harnessing cutting-edge tools for health assessments is exemplified through its mastery of computer vision. The result is an accessible and robust solution that allows users to monitor their well-being with utmost precision, all through the lens of their smartphones’ cameras.
Key applications of solution
- Diagnostic assistance: MX Labs’ innovative application of computer vision serves a critical role in diagnosing a wide range of health conditions and providing expert health guidance, utilizing smartphone cameras for comprehensive health assessments. This advanced technology allows users to capture and analyze essential health data, enabling the early detection and evaluation of various health issues. MX Labs’ solution is particularly valuable in primary care settings, where it aids in monitoring heart rate, blood pressure, stress index, or HRV and offers insights into a patient’s health status through non-invasive visual data analysis. The collected data is instrumental in providing users with timely health information, facilitating proactive healthcare management, and enabling early interventions when needed.
Implications for key stakeholders
- For patients, MX Labs offers a swift gateway to valuable health advice and the possibility of early detection of health concerns. With the convenience of smartphone-based health screening, individuals can gain rapid access to essential health insights, enabling them to make informed decisions and take proactive measures for their well-being.
- Healthcare providers also stand to benefit significantly from MX Labs’ solution. It equips them with a powerful tool for conducting remote health assessments and offering recommendations, thereby expanding the reach of their expertise and making healthcare services more accessible to a broader patient base.
- Insurers are not left unaffected by MX Labs’ innovation. By enabling early detection and proactive health management, this solution could potentially lead to more favorable risk profiles and, in turn, influence the insurance industry’s pricing and underwriting strategies.
- In the realm of regulatory bodies, MX Labs should navigate the intricacies of health technology and data privacy regulations. Compliance with these regulations is paramount to ensuring data security and the ethical use of health-related information.
Current impact
- Enhanced healthcare accessibility: MX Labs’ solution has significantly improved healthcare accessibility for individuals. With just a smartphone, users can conveniently monitor their blood pressure, heart rate, and stress levels from the comfort of their homes, reducing the necessity for in-person doctor visits.
- Early detection and proactive measures: The swift access to health advice and potential early identification of high blood pressure, abnormal heart rate, and stress contribute to the overall betterment of users’ health. Detecting health issues at an earlier stage can result in more effective treatment and reduced healthcare expenditures.
- Telehealth services: The solution supports healthcare providers in providing remote health assessments and guidance for individuals dealing with blood pressure, heart rate, and stress concerns. This capability has proven particularly valuable during the COVID-19 pandemic, enabling safe and efficient healthcare delivery while minimizing physical contact.
Potential future impact
- Integration with wearable devices: The integration of MX Labs’ technology with wearable health devices, such as smartwatches and fitness trackers, could be used to measure vital signs and also offer users a better monitoring experience. This expanded ecosystem can provide real-time health insights and alerts, encouraging users to stay engaged in their well-being.
- Specialized health insights: As technology continues to advance, MX Labs can explore the integration of additional health parameters into its solution. For instance, incorporating the measurement of oxygen saturation levels or respiratory rate could provide users with a more comprehensive health assessment. This expansion of parameters can enhance the utility of the app, enabling users to monitor a broader spectrum of vital health indicators.
Business model
MX Labs’ business model offers flexibility that spans both B2B and B2C contexts, adapting to the diverse needs of its clientele. While the specific pricing model remains undisclosed, the advantages of this versatile approach are evident:
Advantages of the B2B/B2C model
- Market reach: By catering to both businesses and individual consumers, MX Labs can access a broader market. It can serve healthcare providers, clinics, and hospitals (B2B), while also making its solution available directly to individuals (B2C).
- Revenue diversification: The flexibility to operate in both B2B and B2C markets diversifies the company’s revenue streams. This can be particularly advantageous in unpredictable market conditions.
- Direct consumer engagement: In the B2C market, MX Labs can engage directly with consumers, gathering valuable feedback and creating a brand presence. This helps in building consumer trust and loyalty.
Funding and key investors
MX Labs has successfully secured funding through multiple rounds, signifying a growing interest and confidence in its innovative healthcare solution. Here’s a breakdown of the funding rounds:
- Mar 17, 2023 – €100,000 grant from the Cocoon program
- Jan 31, 2022 – $2,000,000 seed funding from Kadri Ugand and five other investors
- Oct 30, 2020 – $500,000 pre-seed funding from Aaron Patzer and four other investors
Competitive differentiator
This innovative approach offers unparalleled accessibility and convenience, enabling users to engage in non-invasive screenings of vital signs with the device they already own. This combination of accessibility, non-invasiveness, and immediate feedback makes MX Labs a transformative force in the realm of health monitoring.
Relevant regulatory and compliance requirements
MX Labs should adhere to the ever-evolving regulatory landscape governing health technology and data privacy. Compliance with these regulations is important to ensure the secure handling of health-related information and the ethical use of data. As healthcare technologies become more integrated into the healthcare ecosystem, MX Labs should ensure that it navigates and align its operations with national and international regulations that safeguard patient data, ensure data accuracy, and maintain patient confidentiality.
Partnerships and collaborations
- Cocoon Ventures is a venture capital firm that invests in early-stage startups in Poland and the CEE region.
- Superhero Capital is a venture capital firm that invests in early-stage startups in the healthcare, fintech, and AI sectors.
- Bragiel Brothers is a venture capital firm that invests in early-stage startups in the CEE region.
- HealthTech VC is a venture capital firm that invests in early-stage startups in the healthcare sector.
Areas for continuous improvement
- Enhancing accuracy in health assessments: A key area for improvement lies in ensuring the accuracy of health assessments, as the appearance of a healthy person’s facial image can sometimes resemble that of someone who may be ill. Addressing this challenge and refining the system’s ability to differentiate between these subtleties will significantly enhance the precision and reliability of MX Labs’ health screening solution.
- Collaborations: Collaborating with healthcare institutions and research organizations to conduct studies and clinical trials can further validate the effectiveness and accuracy of the health screening technology.
- Data security and privacy: As health data collection increases, ensuring robust data security and user privacy protection becomes paramount. MX Labs must continue to invest in advanced encryption and secure data storage protocols to safeguard sensitive health information effectively.
References
https://www.crunchbase.com/organization/mx-labs
Disclaimer: Please note that the opinions, content, and analysis in my posts are entirely my own and do not reflect the views of any current or past employers or institutional affiliations. These posts, based solely on publicly available information, are for informational purposes and should not be taken as professional advice. All insights and conclusions are my viewpoints and should not be considered representative of any organizations I am or have been associated with. This content is not endorsed by, nor does it represent the stance of any affiliated entity.
