This morning femtech firm kegg introduced a $3 million seed funding spherical for its cervical fluid testing and pelvic ground train expertise. Crescent Ridge Companions led the spherical with SOSV, Texas Halo Fund, Althea Capital Fund, Advert Astra Ventures, Viento Ventures and different angel traders.
This information comes only a yr after the corporate scored $1.5 million, bringing its whole elevate to $4.5 million.
WHAT IT DOES
The corporate is concentrated on serving to people perceive their fertility window by analyzing a person’s cervical fluids. The system features a small egg-shaped machine with a “tail” known as a kegg and a corresponding smartphone app. In an effort to conduct a cervical fluid evaluation, customers are instructed to insert the kegg into their vagina with the tail hanging out. The kegg will give customers a vibration when the studying begins and two vibrations when the studying has accomplished. The take a look at takes about two minutes.
After the studying is full, customers will get their outcomes on their smartphone app. Customers can entry insights about their cycle on a graph and file further notes about their sexual exercise and LH take a look at. Customers are instructed to take the take a look at as soon as a day inside the similar two-hour window all through their cycle, besides throughout their interval or inside eight hours of intercourse.
The corporate says that the machine can be in a position to perform as a kegel ball for pelvic ground workouts and assist girls maintain monitor of their cycles.
WHAT IT’S FOR
The corporate plans to make use of the brand new money to construct out its providers to the perimenopause, menopause, postpartum and infections areas. Moreover, the corporate plans to make use of the cash to develop its analysis collaborations and pilots.
Fertility tech is on the rise within the digital well being world. In March, Proov, an at-home ovulation take a look at equipment, landed FDA clearance. U.Okay.-based Concepta Diagnostics rolled out the myLotus Fertility app and monitoring system in 2018, which lets girls making an attempt to conceive take a look at their hormone ranges at house. Moreover Mira created an FDA cleared at-home fertility testing system.
In accordance with a Frost & Sullivan research Femtech is predicted to achieve a $1.15 billion market by 2025. Whereas femtech is catching extra investor consideration, it nonetheless has a protracted strategy to go. A Rock Well being report discovered that femtech solely accounts for 3% of digital well being funding offers within the U.S. since 2011.