Health Tech: Journey clinches Series A

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Comfortable Tuesday, Well being Tech readers.

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

1 huge factor: Fertility tech banks investor {dollars}

Illustration: Shoshana Gordon/Axios

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

Why it issues: Demand for fertility companies is on the rise, and its more and more opaque and inaccessible nature has left room for nimble, tech-forward corporations speeding 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 lately:

  • The economics of infertility remedies stay closely opaque, and insurance coverage protection varies dramatically by state and supplier.
  • The fertility business is very inequitable, disproportionately impacting LGBTQ folks, low-income folks and other people of coloration.
  • 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 necessary than ever, with startups responding to employer calls for by increasing their choices to incorporate reproductive care.

  • “We imagine the flexibility to construct a household is a fundamental 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, instructed 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 referred to as Turtle Well being that gives fertility testing at house.
  • “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 file $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 speeding 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 Collection 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 Collection E funds.
  • Posterity Well being, a digital male fertility therapy supplier, this month pulled in $7.5 million in seed funding.
  • Turtle Well being, which is making an attempt to copy a full-scale fertility analysis within the house, 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 Collection B funds at a valuation of $150 million.
  • Combining fertility financing and care assist, Future Household in April raised $25 million in Collection B funding at an $80 million valuation.

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

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

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