London, the U.K-based virtual fertility clinic Apricity raised EUR 17 million in Series B. The company announced the round on September 5, 2022. Swiss healthtech fund MTIP led the financing for the firm. Spain-based consumer fund Iris Ventures also participated in the funding.
Purpose of financing for Apricity
With the latest proceeds from Series B, Apricity plans to accelerate its presence in the UK. It also seeks expansion in Spain, Germany and Italy in the coming months.
Earlier in 2022, the company acquired Spain-based period-tracking app Woom. Meanwhile, it entered into contracts with some large corporate customers such as AXA and Reward Gateway.
The company intends to develop its technology further as it aims to become the leading fertility player in Europe. It has plans to expand its at-home services to include at-home ultrasound scans in select areas.
What the founder has to say
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 struggling to conceive and can now hope for a better, less stressful alternative option.”
What the investors have to add
Christoph Kausch, the Managing Partner at MTIP, who led the round, 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.”
In addition, Montse Suarez, Founder and Managing Partner, Iris Ventures, said, “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 Apricity’s big success in the UK is exported to other European markets, such as Spain. We are proud to come together with Caroline and the entire team at Apricity in their mission to reimagine fertility care.”
Marc Dietrich, who joins the board of directors on behalf of MTIP, further added, “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.”
About the company
Caroline Noublanche launched the company in 2018. Apricity revolutionises reproductive health, blending personal, patient-centric fertility care with cutting-edge technology. It aims to help people increase their chances of conception without the need to travel to a clinic. It is also the first company to develop 3D reconstruction technology for embryos to assist in fertility treatments.
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