Zurich-based Ava, a femtech startup that makes a fertility monitoring bracelet, has raised $30 million in a Series B funding round. The majority of the new financing came from existing investors Polytech Ventures, btov, and SVC.
The company's product, Ava Bracelet, detects the 5.3-day fertility window in a woman’s menstrual cycle in real time. While users sleep, Ava collects data on nine physiological indicators that are impacted by levels of the hormones estradiol and progesterone. It then uses this data to create an algorithm to predict a user’s fertility window with 89% accuracy. By monitoring several indicators, the bracelet and connected app are able to provide users with a longer fertility window than other tests available on the market. The startup claims to have already facilitated 10,000 pregnancies among its users since launching in July 2016.
“Ava’s long-term vision is to accompany women through all stages of their reproductive life by providing data-driven, clinically proven technology that will make a woman’s life easier, healthier and better -- be it when they just want to understand their body, while they are trying to prevent pregnancy, trying to get pregnant, are pregnant or entering menopause,” said Ava co-founder Pascal Koenig.
Ava plans to use the new funds to invest in research and development to enhance the existing product and create new applications. The startup works closely with the University Hospital of Zurich to conduct clinical trials and study the applications of its technologies among women who are trying to get pregnant, and those who suffer from fertility challenges.