The Polish AI fertility start-up MIM Fertility has raised US$2m in funding in a bid to boost IVF success rates.
MIM Fertility, a spin-off of the Faculty of Mathematics, Informatics and Mechanics of the University of Warsaw, uses machine learning and deep learning algorithms to develop new reproductive medicine solutions.
The technologies, aimed at increasing people’s chances of becoming parents, promise to improve diagnosis and treatment outcomes, save professionals time and reduce healthcare costs.
The funding round, led by Warsaw-based Tangent Line Ventures and Peleton, is hoped to enable the start-up to “refine” its existing technologies, develop new functionalities and expand its global footprint.
“The investment from Tangent Line and Peleton is a significant boost for our company and a validation that we are moving in the right direction,” said Piotr Wygocki, co-founder of MIM Fertility.
Ula Sankowska, co-founder of MIM Fertility, said: “We are excited about the opportunities this investment opens up for us, particularly in scaling our solutions and extending our presence in the global infertility treatment market.”
Infertility is a challenge both in Poland and globally, impacting the lives of millions of couples. According to the World Health Organization (WHO), it affects around 17 per cent of couples worldwide, translating to about 48-186 million people.
Infertility is a complex phenomenon that can stem from various causes in both women and men. Medical solutions, such as IVF, offer hope for many couples. However, the cost and accessibility of these procedures mean that many are left unable to access treatment.
Through its AI-driven technologies, MIM Fertility aims to help more couples fulfil their dream of parenthood. Its products, EMBRYOAID and FOLLISCAN, mark a new generation of tools supporting experts in the identification and analysis of ovarian follicles and embryo assessment.
The company is planning to use the funding to intensify research and development and continue its collaboration with institutions and experts in the field of reproductive medicine.
Piotr Pietrzak from Tangent Line Ventures, said: “MIM Fertility’s approach to using AI to enhance infertility treatment outcomes is precisely what modern medicine needs.
“We are impressed by the innovation and potential of the company and their commitment to addressing real issues in reproductive health.”
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Menopause start-up raises US$3.3m to expand digital health platform
The funding will be used to expand Elektra’s care delivery platform across payers, self-insured employers and new markets
The US menopause start-up Elektra Health has raised US$3.3m in new financing to expand its digital health platform.
Elektra Health, a telemedicine platform offering education and one-to-one support, aims to help women understand and manage their menopause symptoms.
Today, 50 million women are currently navigating menopause in the US. However, around 20 per cent of OB/GYN residency programmes offer menopause training, resulting in a care gap.
Research underscores the connection between menopause and the risk and prevalence of chronic conditions such as heart disease, hypertension and osteoporosis, among others.
Elektra’s Actuarial Study (2023) revealed that women diagnosed with menopause incur significantly increased healthcare spend (45 per cent), and often suffer poorer outcomes.
The company’s menopause care model aims to combine telemedicine care with one-to-one support from health experts to help women better navigate menopause.
“Elektra Health’s three core pillars – education, care, and community – lay the foundation for women to not only understand menopause, but to also take actionable steps to optimise their long-term health and wellness,” said Alessandra Henderson, co-founder and CEO of Elektra Health.
The funding round, led by UPMC Enterprises with participation from Wavemaker 360 and existing investors Flare Capital Partners and Seven Seven Six Fund, brings the total amount of equity finance raised to US$7.6m.
The capital will be used to expand Elektra’s care delivery platform across payers, self-insured employers and new markets.
Jannine Versi, co-founder and COO at Elektra Health, said: “We’re thrilled to have UPMC joining as lead investor for this round.
“They are exemplary in their dedication to holistic care for women across the lifespan, including menopause and the intersecting health needs of an aging population that has been wildly underserved to date.”
Kathryn Heffernan, senior director of strategic product management at UPMC Enterprises, added: “UPMC is interested in investing in solutions that focus on empowering women and Elektra proved to have all the elements UPMC values in this space: evidence-based education and care that prioritises women’s health needs and drives outcomes.
“The goal of the Elektra platform is to fill a gap and provide innovative opportunities to strengthen the doctor-patient relationship as women move through the menopause transition.”
Tech4Eva launches its fourth edition and call for application
Tech4Eva is searching for entrepreneurs ready to address the unmet health needs of women worldwide
Tech4Eva, a pioneering accelerator programme dedicated to the femtech sector, is opening its call for applications, inviting femtech start-ups to join its mission to improve women’s health.
The programme is searching for entrepreneurs ready to address the unmet health needs of women worldwide, promising to help entrepreneurs to take their start-ups to the next level.
What is Tech4Eva?
Tech4Eva, is a joint programme between EPFL Innovation Park and Groupe Mutuel for companies developing innovative technology solutions to improve women’s health globally.
What is Tech4Eva looking for?
Applying to the Tech4Eva accelerator programme is a pivotal step for any femtech start-up looking to elevate its impact and reach in the women’s health sector.
Here is an overview of the benefits the programme offers:
- Strategic refinement: Sharpen your business model and go-to-market strategy with expert guidance, positioning your start-up for sustainable growth and success.
- Enhanced visibility: Participate in roadshows to showcase your innovative solutions, broadening your exposure to key stakeholders in the Tech4Eva femtech ecosystem.
- Direct connections: Gain invaluable access to a network of investors and potential customers.
- Personalised coaching: Receive targeted technical and business coaching tailored to your start-up’s unique challenges.
- Peer learning: Benefit from Peer2Peer sessions that foster exchange of insights and experiences with fellow founders.
- Community engagement: Become an integral part of a global femtech community, connecting with like-minded innovators committed to transforming women’s health.
The time is now
This is more than a call for applications, it’s a call to action. The Tech4Eva accelerator programme offers more than growth – it offers a chance to be part of a movement set to redefine the future of women’s health.
If your start-up is ready to take the next step, your time is now. Apply here to join the Tech4Eva programme now.
Investors launch female-focused angel network in the north of England
The Leeds-based group aims to build a diverse investment community for women entrepreneurs in the north of England
Two UK-based businesswomen have launched an angel investment network to back women-led start-ups in the north of England.
Co-founded by Jordan Dargue and Helen Oldham, Lifted Ventures was launched based on research showing that female-led businesses generate on average double the revenue for each pound invested, despite receiving minimal funding.
Funding has been identified as a top barrier for women in tech and business, with the Alison Rose Review revealing that less than one per cent of all venture funding goes to all-female-founded start-ups.
Dargue and Oldham, who led the NorthInvest angel network and co-founded Fund Her North and Women Angels of the North, said they came together to this new venture to build on their work in closing the early-stage gender and ethnic funding gap in the UK.
The Leeds-based group aims to build a diverse investment community for women entrepreneurs in the north of England, planning to create networks for angels and supply its capital to women-led startups.
“Too often the conversation focuses on disparity, gender funding gaps, barriers and challenges. Lifted Ventures is focusing on opportunity,” said Oldham, co-founder of Lifted Ventures and board member of the UK Business Angels Association, told UKTN.
“One of our main aims is to educate and inform investors on the proven business benefits and greater economic returns which result from supporting female-founded businesses.”
Lifted’s angel networks, Oldham said, would include education programmes to support new and experienced investors who want to gain a better understanding of how to back female-led businesses.
“We understand that female-led businesses and women angels need tailored pathways to ensure that they’re successful,” explained Jordan, co-founder of Lifted Ventures.
“The education programmes we’re developing aim to provide investors and founders alike with the practical resources and knowledge they need to ensure success.”
She aded: “We believe that investment should be accessible to everyone, irrespective of their background, ethnicity, gender, neuro or physical diversity.”
- Menopause start-up raises US$3.3m to expand digital health platform
- Women’s cancer innovation to take centre stage at Femtech World Awards
- Tech4Eva launches its fourth edition and call for application
- Investors launch female-focused angel network in the north of England
- US maternity clinic raises a US$28m to expand nationally
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