Fertility testing firm Proov introduced Tuesday that it has raised $9.7 million in Collection A funding.
The spherical was led by Hambrecht Ducera Development Ventures with participation from SteelSky Ventures, WCC Companions, LightShip Capital, GingerBread Capital and Portfolia.
WHAT THEY DO
In early 2020, Proov scored FDA clearance for its at-home urine take a look at measuring pregnanediol glucuronide, which may help affirm ovulation.
It is also obtained a patent for utilizing a luteinizing hormone take a look at to find out a person’s fertility window after which a PdG take a look at to determine when that window has closed.
Proov provides different hormone and fertility checks, in addition to an app that may let clients know when they need to take a look at, retains observe of their outcomes and suggests subsequent steps.
WHAT IT’S FOR
The fertility firm will use the Collection A financing to help its new Full product, which incorporates follicle-stimulating hormone checks in addition to multi-hormone checks that measure estrone glucuronide, LH and PdG.
“I began this firm in my basement after my very own infertility battle, and it has turn out to be greater than I might have imagined. We’re so excited to assist girls get even higher details about their cycles to advertise higher remedy and finally higher outcomes,” MFB Fertility’s founder and CEO Amy Beckley mentioned in an announcement. “With this funding, Proov is now poised to assist girls throughout life phases attain their objectives sooner and finally reside higher by rising accessibility to key diagnostic and hormone well being supporting options — each at residence and in partnership with physicians.”
Femtech, or digital well being merchandise geared towards girls and others who might have related healthcare wants, is beginning to get extra consideration from buyers. Within the third quarter of 2021, girls’s well being firms raised $443 million, the second-highest-funded quarter ever for the house, in response to Rock Well being.
Although the world is seeing loads of progress, it nonetheless makes up a small share of digital well being funding total, in response to one other report from Rock Well being.