Overture Life, the IVF course of automation startup, right this moment introduced that it has raised $15M in Sequence B funding, bringing its fundraising whole to $37M because it continues to draw investments in its mission to democratize in-vitro fertilization (IVF).
The spherical was led by Octopus Ventures, one in every of Europe’s largest and most energetic early-stage buyers, Google Ventures additionally participated within the spherical, in its first Spain-based funding. Extra funding was obtained from current buyers corresponding to Khosla Ventures, Felicis Ventures, and Marc Benioff, who had been all early backers of the corporate.
Fertility charges have been declining in each women and men over the past 60 years, significantly in industrialised international locations as individuals delay having youngsters. One in seven UK {couples} now report difficulties conceiving and demand for IVF has elevated considerably because of this.
Regardless of this, there was little or no innovation within the fertility market, which nonetheless depends predominantly on handbook embryology for assisted manufacturing. These strategies have remained the identical for greater than twenty years, regardless of being costly and producing extremely diversified outcomes throughout completely different clinics. The tip result’s that many potential dad and mom find yourself being priced of the market or restricted to a small variety of IVF cycles.
Overture Life strives to democratise processes in assisted copy to make them extra accessible, simplify strategies, and optimise use of assets. The corporate is growing medical units and novel embryo testing methodologies that may automate all phases of the IVF course of, reducing prices and rising throughput for IVF practitioners.
The units are being developed in its amenities situated in Madrid and Barcelona and Overture Life expects to have their first units accessible by the top of the present yr.
Martin Varsavsky, CEO of Overture Life, mentioned, “Overture Life will automate and robotize the embryology lab, bettering IVF and egg freezing success charges and reducing prices, thereby democratizing entry to fertility It’s a important validation of our imaginative and prescient and of our technical progress that buyers corresponding to Octopus and GV are becoming a member of us in our mission.”
Luke Hakes, Associate and well being investor at Octopus Ventures added, “Having spent many months researching the fertility market and panorama, we imagine that Overture is one in every of, if not the, most fun firm on this area. The modern and pioneering merchandise that Overture is constructing will essentially remodel the worldwide fertility market by rising accessibility and affordability, and in a way more significant manner than current options and providers. Mixed with a first-class group and highly effective mission, Overture has all the mandatory components to grow to be a really class defining enterprise.”
Overture at the moment employs 60 multidisciplinary specialists throughout the fields of software program, microfluidics, robotics, embryology, and reproductive drugs. This spherical will allow the biotech firm to extend its operations in Europe and the US and start commercialization of its first merchandise.
