London-based Apricity, a virtual fertility clinic, combines medical care with new technologies, applying AI to increase chances of conception. The service helps prospective parents identify and connect with the best clinicians, and provides continuous, personalised support through its app, which keeps users up-to-date with appointments and medications, and contains a library of tools and advice.
The startup has raised €6 million in a Series A round from AXA’s Kamet Ventures, bringing the total raised by the startup to €8.8 million. Already launched in the UK, Apricity heralds a new approach to reproductive medicine – with the mission of making fertility treatment less arduous and more effective.
One in six couples experience difficulty in conceiving, however Apricity boasts a 50% success rate. Meanwhile, the global fertility market is predicted to hit $31 billion by 2023.
Femtech ventures received more than $1 billion in funding between 2015 and 2018, and the trend is increasing both in the UK and worldwide, with an expected value of $50 billion by 2025. And with the NHS and local health authorities under greater financial constraints than ever, fertility diagnostics and treatments are increasingly vulnerable to budget cuts, so there has never been a more important moment to apply greater efficiency to the sector.
To further strengthen its offering, the startup recently acquired Altrui, the UK leader in egg donation services, which brings nearly a decade of experience in supporting patients and working with the nation’s leading fertility clinics.
“We are thrilled that for such a new company, we have seen such amazing support from AXA and Kamet Ventures,” said Caroline Noublanche, CEO and co-founder of Apricity. “The fundraising will allow us to accelerate our go-to-market plans, especially with AXA, to better support and empower women and couples everywhere. The acquisition of Altrui is especially exciting for us. It gives us a great opportunity to realise our vision of becoming the number one route for accessing and using fertility services.”
“For too long, women and couples undergoing fertility services have grappled with a system that fails to acknowledge or respond to the practical and psychological pressures they face,” said Stéphane Guinet, CEO of Kamet Ventures. “Apricity is designed to make their experience far less stressful and disruptive, while also increasing the chances of successful outcomes.
“Kamet’s investments in femtech recognise that this is a critical area of healthcare, with huge scope for innovation. Our work with Apricity is an important step in AXA’s broader strategy of making a positive difference to the lives of as many people as possible, all over the world.”