Women’s health and fitness tech brand, Elvie, tops up Collection C to $97M – TechCrunch
Elvie, the women’s wellness tech pioneer behind a connected breast pump and intelligent pelvic ground exerciser, has topped up a Collection C which it introduced previously this summer (July) — adding a even further £12.7m to convey the total elevated to £70 million ($97m).
The 2013-founded, British isles-centered startup formerly raised a $42M Collection B in 2019, and a $6M Sequence A in 2017 — when femtech startups ended up a whole lot rarer than they are now. Products and solutions created for (and often by) females have received a large amount of momentum in excess of this interval as feminine-led startups have blazed a trail and shown there is a sizeable market for femtech — foremost buyers to sluggish clock on to the chance much too.
Analysts now venture the femtech industry will come to be a $50 billion sector by 2025.
Elvie states the Collection C extension involves cash sponsored by the co-founders of Blume Fairness – a PE business that focuses on the food items and health and fitness sectors – moreover even further money from existing buyers IPGL, Hiro Money and Westerly Winds.
In July, when it announced the earlier ($80M) tranche of the raise, Elvie claimed the Sequence C was led by BGF and BlackRock alongside current investors like Octopus Ventures.
The Series C will be utilized to generate for far more advancement by means of geographical growth (which include coming into new marketplaces) and diversifying its item portfolio to focus on other “key stages” in women’s life, it stated.
That indicates it’ll be splashing out on R&D to assistance product growth — connected components that blends actual physical gadgetry with software program nevertheless appears to be a powerful emphasis — and also on strengthening its ops and infrastructure to prep for even further scale.
Elvie sells 4 goods at this stage: Its linked kegel coach, and a wearable breast pump (in addition two non-electric pumps).
The place the enterprise goes upcoming in terms of product or service will be an interesting one to observe.
Commenting in a assertion, Tania Boler, CEO and founder, explained: “Elvie is all set for the following phase of our advancement. We have already revolutionized the groups we function in, but we know that there is large untapped prospective to make better know-how products and services for females in new locations.”
She additional that Elvie’s goal is to build “the go-to desired destination for women’s overall health at all everyday living stages” — selling “sophisticated, precise and personalised solutions” to its concentrate on feminine consumer.
Elvie, the women’s wellness tech pioneer behind a connected breast pump and intelligent pelvic ground exerciser, has topped up a Collection C which it introduced previously this summer (July) — adding a even further £12.7m to convey the total elevated to £70 million ($97m).
The 2013-founded, British isles-centered startup formerly raised a $42M Collection B in 2019, and a $6M Sequence A in 2017 — when femtech startups ended up a whole lot rarer than they are now. Products and solutions created for (and often by) females have received a large amount of momentum in excess of this interval as feminine-led startups have blazed a trail and shown there is a sizeable market for femtech — foremost buyers to sluggish clock on to the chance much too.
Analysts now venture the femtech industry will come to be a $50 billion sector by 2025.
Elvie states the Collection C extension involves cash sponsored by the co-founders of Blume Fairness – a PE business that focuses on the food items and health and fitness sectors – moreover even further money from existing buyers IPGL, Hiro Money and Westerly Winds.
In July, when it announced the earlier ($80M) tranche of the raise, Elvie claimed the Sequence C was led by BGF and BlackRock alongside current investors like Octopus Ventures.
The Series C will be utilized to generate for far more advancement by means of geographical growth (which include coming into new marketplaces) and diversifying its item portfolio to focus on other “key stages” in women’s life, it stated.
That indicates it’ll be splashing out on R&D to assistance product growth — connected components that blends actual physical gadgetry with software program nevertheless appears to be a powerful emphasis — and also on strengthening its ops and infrastructure to prep for even further scale.
Elvie sells 4 goods at this stage: Its linked kegel coach, and a wearable breast pump (in addition two non-electric pumps).
The place the enterprise goes upcoming in terms of product or service will be an interesting one to observe.
Commenting in a assertion, Tania Boler, CEO and founder, explained: “Elvie is all set for the following phase of our advancement. We have already revolutionized the groups we function in, but we know that there is large untapped prospective to make better know-how products and services for females in new locations.”
She additional that Elvie’s goal is to build “the go-to desired destination for women’s overall health at all everyday living stages” — selling “sophisticated, precise and personalised solutions” to its concentrate on feminine consumer.
