London, UK-based gynaecological health startup and the inventor of the CBD tampon, Daye, raised EUR 11.5 million (GBP 10 million) in recent funding. The Series A round took place on October 26, 2022. Hambro Perks, MassMutual Ventures, Cross Border Impact Ventures, Simplyhealth and U.K. medics Dr Michelle Tempest and Dr Fiona Pathiraja joined the investment.
So far, the company’s total funding now amounts to EUR 21 million.
Purpose of funding for Daye
With the latest proceeds from Series A, the company intends to launch its tampon-based at-home vaginal microbiome screening kit.
Daye also has plans to roll out a digital platform for gynae health. Meanwhile, it aims to kickstart its launch in the U.S.
What the founder has to say
Valentina Milanova, Founder of Daye, said,” We’re delighted to have completed this highly successful funding round which will support Daye’s continued growth. This latest funding round is critical in helping us build a comprehensive platform for gynae health and launch our tampon-based screening test to help more women easily access information about their vaginal health.”
Milanova further said, “We have ambitious plans to ensure women’s health receives the importance it deserves. Moreover, we are grateful to our investors who are joining us on that journey.”
What the investors have to say
Tom Bradley, Partner at Hambro Perks, said, “Hambro Perks is an experienced investor in the health tech space, and we saw a great product and growth potential in Daye as they look to expand the business. Valentina, Lisa and the team at Daye bring not just a wealth of experience and knowledge to the business but also a clear passion for changing the women’s health space. The team is doing critical work to bridge the gender gap in innovating health technology, and we’re excited to partner with them as they scale.”
In addition, Ryan Collins, Managing Director of MassMutual Ventures, further added, “With its novel and differentiated products and services, Daye is raising the bar for feminine care and women’s health. It operates in a market segment that has long been overlooked when it comes to investment in innovative, effective, and sustainable solutions. We are excited about the success that the team has seen in the U.K. so far and look forward to working with them as they continue to grow their product offerings and digital health platform in the U.S. market.”
About the company
Valentina Milanova launched the company in 2017. Its vision is to close the gender gap in medical research and innovation by creating convenient products and services for period pain, at-home STI testing, and the treatment of vaginal infections. The company operates in the global femtech sector, which is projected to reach a market of EUR 75 billion by 2025.
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