Femtech company Elvie received 58 million pounds from well-known investors to drive expansion

stability Fintech company Elvi It was revealed on Tuesday that it had received 58 million pounds of Series C financing from big-name companies. investor Including investment giants BGF and Zoopla-Supporter Octopus Venture Capital Corporation.

This FaringdonBased on the brand, in 2013 Oxford and Stanford-Tania Boler, an educated reproductive health expert, was a big success in the first year when Sales volume The sales of the pelvic floor trainer of the same name reached US$1 million. The product is now available on the NHS.

Elvie develops technology in-house and sells silent breast pumps. Despite the pandemic, its sales have almost doubled in 2020 and expanded to 10 new markets around the world. world In the past 12 months.

The company had raised more than 33 million pounds before the C round of financing, and last year hired Sarah Highfield, the former Finance Director of Costa Coffee, as its chief operating officer and chief financial officer.

Elvie said on Tuesday that the new cash will be used to invest in innovation and continue expansionAnd company infrastructure.

Boler received a PhD in reproductive health and spent 12 years in sex education before launching her startup. She said: “Elvie has completely changed every category it enters-but we know we have almost none. Touch the possible superficial feminine technology.

“We will not stop until we have achieved our ambition of creating a preferred destination for women’s health at all life stages; providing complex, accurate and personalized solutions.”

This round of financing was led by BGF, with funds and accounts managed by BlackRock and further investments by consortia including Hiro Capital and Westerly Winds. Existing investors Octopus Ventures and IPGL also participated.

Daina Spedding of BGF said: “We admire Elvie’s vision, strong track record, and R&D capabilities, which have had a tangible positive impact on women’s lives.”

Elvie is one of the more mature brands in the femtech field. After decades of women’s health research has fallen to the bottom of the priorities of large companies, the field has been expanding rapidly in recent years. Frost & Sullivan predicts that by 2025, the industry will reach US$50 billion.

Today, femtech startups range from offering products that help women through childbirth, menopause, and menstrual cycles, to family planning apps such as Natural Cycles and Stix, a direct-to-consumer company that creates discreet pregnancy and Ovulation tests, these tests are provided directly to customers.

Apricity, another British digital fertility clinic, has developed an algorithm to predict women’s response to IVF.

Read the interview with Boler here