Bullish on the expanse of the fem tech sector, London-based virtual fertility clinic Apricity has raised €17 million.
The new cash will drive the startup’s growth in the U.K. and fuel its expansion plans in Spain, Germany, and Italy.
It also plans to expand at-home services to include at-home ultrasound scans in select areas.
The funding comes on the back of its acquisition of Madrid-based period-tracking app Woom in May this year.
Fertility tech continues to be one of the most important areas of healthcare innovation.
The global fertility market is predicted to hit $26 billion by 2027.
The Series B round was led by MTIP, the Swiss health-tech investor, with participation from Barcelona-based specialist consumer fund Iris Ventures.
Founded in the UK in 2018 and originally incubated by Kamet Ventures, Apricity focuses on reproductive medicine by combining fertility care with technology to increase the chances of conception and outperform traditional clinics.
Aiming to offer a smoother patient experience, the platform claims to assist customers at every step of the fertility treatment journey, and provides personalized support through its app.
With one in six couples having difficulty conceiving, Apricity says its platform has a 46% success rate per cycle, compared to a UK average of 31%.
So how does it achieve this?
The platform has developed AI algorithms that can identify the most suitable fertility treatment for patients and then determine the best embryo for selection through 3D reconstruction.
Each Apricity patient is assigned a set of dedicated fertility advisors, a bespoke medical companion app, and fully transparent pricing options.
Read more on Tech Gist Africa:
London-based SLAMcore raises $16 million
London-based Clausematch has raised $10.8 million
London-based startup Perlego raises $50 million to expand its business
