Leading virtual fertility clinic Apricity has raised €17m (£14.6m) to expand their “geographical footprint”.
The company has pioneered new technologies to transform fertility care, such as 3D reconstruction for embryo selection, and recently developed first-of-its-kind AI algorithms that identify the most suitable fertility treatment for patients and then determine the best embryo for selection through 3D reconstruction.
The large cash injection, they say, will help them to expand further and develop their innovation in women’s health and fertility.
Series B round from MTIP & Iris Ventures
The money was raised in a Series B round led by MTIP, the Swiss healthtech investor, with participation from Barcelona-based specialist consumer fund Iris Ventures.
It has come at the perfect time for Apricity, who has already doubled their revenue in 2022, acquired women’s health app Woom, and grown its B2B offering, signing up employee benefits providers like AXA and Reward Gateway.
Geographical growth for fertility clinic
The company now plans to grow into Spain in the coming year, and generally expand its geographical footprint, eventually moving into Italy and Germany.
Caroline Noublanche, founder and CEO of Apricity, said: “MTIP’s deep-rooted understanding of the healthcare landscape combined with Iris Ventures’ expertise in the consumer space will be invaluable as Apricity enters its next stage of growth and we expand into more regions.
“We look forward to supporting more women and couples across Europe who are struggling to conceive and can now hope for a better, less stressful alternative option.”
Christoph Kausch, Managing Partner at MTIP, said: “The virtual business model has really taken off across the healthcare industry, and Apricity was one of its pioneers. Rather than focusing on just one part of the fertility journey, Apricity is using cutting edge technology to transform the end-to-end experience for patients and has seen incredibly strong traction as a result.”
Bringing the industry to “new heights
Marc Dietrich, who joins the board of directors on behalf of MTIP, adds: “Fertility tech is one of the most important areas of healthcare innovation and we’re excited to support Apricity as it leads the industry to new heights.”
Montse Suarez, Founder and Managing Partner, Iris Ventures, added: “Finding ventures that put the needs of the modern consumer at the heart of their mission is what drives us at Iris Ventures.
“There is no doubt Apricity is a stand-out in their field, using patient-centric technology to make a real impact in the lives of fertility patients, delivering high quality care when and where patients need it most.
“It is just a matter of time until their big success in the UK is exported to other European markets, such as Spain, and we are proud to come together with Caroline and the entire team in their mission to reimagine fertility care.”
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