Thermal wellness technology company raises US$35m to fund market expansion

Embr Labs, the company behind a wearable device for hot flash relief, has raised US$35m to fund market expansion.

The Embr Wave, a wristband for hot flash relief, aims to help women have more control over their skin temperature during menopause.

According to Embr Labs, the device uses technology and thermal science to provide rapid, safe and effective hot flash relief.

“Women today are seeking natural, non-hormonal alternatives to control their symptoms of menopause, and the Embr Wave is the solution they’ve been looking for,” said Elizabeth Gazda, CEO of Embr Labs.

“Through our partnership with Ghost Tree, Embr Labs is able to accelerate the fulfillment of our mission to provide this ground-breaking technology to women everywhere.”

The influx of new capital will support the company’s growth and expansion into new retail channels and markets, Gazda added.

Embr Labs has secured partnerships with some of the biggest distribution and retail organisations, with the device now available at most major retailers across the US and UK. 

David Byrne, managing director at Ghost Tree Partners, which led the financing, said: “We recognised Embr’s market leadership and the company’s rapid growth potential.

“We are pleased to support the company as the investment community has yet to recognise the massive unmet need the menopause segment presents.

“We’re excited to provide the capital to support the company’s retail growth and geographical expansion.”

Lewis Lee, CEO at IP Solutions at Aon, the firm that facilitated the transaction through valuation and broking services, said: “Innovation drives growth, and intellectual property can be the valuable asset created from that innovation.

“We are excited to support innovative companies with intellectual property portfolios like Embr Labs to help them unlock the potential value of those IP assets and pursue growth independent of equity market volatility.”