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Well being Tech: Journey clinches Sequence A

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Joyful Tuesday, Well being Tech readers.

🤝Situational consciousness: Erin on Wednesday is moderating a dwell webinar and panel dialogue protecting the findings from SVB’s annual well being care investing report. It would function TPG Life Sciences’ Carolyn Ng, Andreessen Horowitz’s Julie Yoo and SVB’s Jon Norris. Tune in.

1 massive factor: Fertility tech banks investor {dollars}

Illustration: Shoshana Gordon/Axios

Fertility expertise startups are within the midst of a funding frenzy, placing the class among the many sixth most closely funded remedy verticals in 2022, per Rock Well being.

Why does it matter: Demand for fertility providers is on the rise, and its more and more opaque and inaccessible nature has left room for nimble, tech-forward corporations dashing to fill the gaps, Erin writes.

Driving the information: A number of harsh realities about household planning and fertility have been forged into the highlight in recent times:

  • The economics of infertility remedies stay closely opaque, and insurance coverage protection varies dramatically by state and supplier.
  • The fertility trade is extremely inequitable, disproportionately impacting LGBTQ folks, low-income folks and other people of shade.
  • The overturn of Roe v. Wade enabled states to pursue reproductive well being laws that may create challenges for sufferers and suppliers in states together with Arizona, Florida, Louisiana and Tennessee.

What they’re saying: Employers, entrepreneurs and buyers inform Axios they see their roles as extra essential than ever, with startups responding to employer calls for by increasing their choices to incorporate reproductive care.

  • “We consider the power to construct a household is a primary human proper,” says Sunfish CEO Angela Rastegar.
  • “Ladies need management as a result of it is being so restricted,” Lori Evans Bernstein, the CEO of virtual-first ladies’s well being startup Caraway, informed Axios final fall.
  • “Conventional reproductive endocrinology practices are the closest analogy to what we do, however they’re simply not in a position to serve sufficient sufferers,” says Amy Zwanziger, the CEO of a startup known as Turtle Well being that provides fertility testing at residence.
  • “Addressing infertility requires improvements that drive towards extra inclusive — and finally more practical — household care,” says Lux Capital associate Deena Shakir.

By the numbers: Fertility startups banked a document $424 million within the final quarter of 2021, per a Rock Well being report. In the meantime:

Zoom in: As current reproductive well being corporations’ valuations rise, new startups are dashing to fill extant gaps in care. For instance:

  • Sunfish Applied sciences, an organization providing financing assist for egg freezing and IVF, premiered this month with a $3.8 million seed spherical.
  • Maternity care supplier Oula this month collected $19.1 million in Sequence A funds for a hybrid mannequin that unites midwives and obstetricians.
  • The primary maternal and household well being startup to achieve coveted unicorn standing, Maven Clinic in November collected $90 million in Sequence E funds.
  • Posterity Well being, a digital male fertility remedy supplier, this month pulled in $7.5 million in seed funding.
  • Turtle Well being, which is attempting to duplicate a full-scale fertility analysis within the residence, debuted in December with $5.4 million in seed capital.
  • Legacy, a celebrity-backed sperm testing and storage startup, in Could banked $25 million in Sequence B funds at a valuation of $150 million.
  • Combining fertility financing and care assist, Future Household in April raised $25 million in Sequence B funding at an $80 million valuation.

Sure however: Though most of the corporations within the sector give attention to ladies and their reproductive programs, half of all infertility instances contain issues associated to sperm, says Sophia Yen, a Stanford scientific affiliate professor and CEO of girls’s telehealth firm Pandia Well being.

  • “This isn’t simply a difficulty that heterosexual ladies ought to be fearful about,” says Legacy CEO Khaled Kteily.

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