Apricity wants to help patients maximize their chances of getting pregnant. Check out the 19-slide pitch deck it used to raise $17 million.
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- Virtual fertility clinic Apricity has raised $17 million in fresh funds from Swiss investor MTIP.
- The UK startup offers fertility services ranging from blood tests and ultrasounds to consultations.
- Check out the 19-slide deck Apricity used to raise the fresh funds.
A startup that offers a mix of digital and in-person fertility treatments has just raised $17 million in fresh funds.
London-based Apricity, which launched in 2018, provides patients with tech-enabled fertility care so they can maximize their chances of conception.
“We aim to allow patients to access treatments through the comforts of their home, with access to fertility advisors,” Apricity founder and CEO Caroline Noublanche said.
Patients have access to video consultations from 7am to 9pm, and they can take blood tests at home which can later be analyzed at Apricity’s partner clinics. Nurses are on duty to inform patients about the dosage of any medication they take, and guide them on how to ingest or inject it. More recently, the startup has launched an option where patients can take ultrasounds at home in a bid to reduce the number of in-person visits to clinics.
Apricity has also designed a mobile app that allows users to track what stage of the fertility cycle they’re on and gives them reminders to take any medication. In May this year, it acquired Madrid-based Woom, a period tracking app that helps users track their menstrual and fertility cycle. However, processes such as egg collection and embryo transfers are conducted in person, at one of Apricity’s seven partner clinics in the UK.
The startup has also designed an AI algorithm, which it deploys to predict what the most suitable fertility treatment will be for patients. It’s also developing a form of 3D reconstruction technology that enables them to determine which embryo is the best for selection in IVF procedures.
“We’ve developed our algorithms based on the patients’ response to treatments,” said Noublanche. “The algorithm also helps labs select the best embryos.”
While Apricity charges patients per treatment based on market average prices, around a third of its revenue comes from B2B contracts with corporations, for which it provides its services as an employee benefit.
It started these offerings in 2019 before the pandemic — which accelerated demand for fertility services as an employee benefit, Noublanche told Insider. As fertility clinics weren’t considered ‘essential’ services during the first UK lockdown, patients flocked to Apricity, she added.
The last year has also seen investor appetite in the fertility sector balloon, with VCs pouring $823.1 million into startups in the industry in 2021. While Noublanche noted that Apricity attracted investor attention, they wanted to ensure that they found “experts in healthcare” to back the startup.
The Series B round was led by Swiss healthtech investor MTIP, which has previously backed healthtech startups such as Oviva and Koa Health, with participation from Spanish consumer fund Iris Ventures.
With the fresh funds, it will recruit more talent in the coming year as it aims to expand in Spain, Germany, and Italy.
Check out the 19-slide deck used to raise the fresh funds.