Funding will fuel R&D to expand product offering beyond fertility into pregnancy and contraception
SAN FRANCISCO and ZURICH
Ava, a medical technology company focused on innovations in women’s reproductive health and maker of the popular cycle tracking Ava bracelet, today announced it has raised $30 million in a strategic Series B funding round. The majority of Ava’s new financing came from existing investors, with prominent European VC firm btov and SVC Ltd., an investment vehicle of Credit Suisse, also joining the round.
Ava also announced today that its cycle-tracking sensor bracelet, which precisely detects the 5.3-day fertile window in a woman’s cycle in real time, has officially reached a milestone of 10,000 pregnancies among users since launching in July 2016.
According to Ava Co-Founder Pascal Koenig, Ava will use the new funds for further product research and development to enhance the existing product and create new applications that empower women to take control of their reproductive health via data insights and science.
“Ava’s long-term vision is to accompany women through all stages of their reproductive life by providing data-driven, clinically proven technology that will make a woman’s life easier, healthier and better — be it when they just want to understand their body, while they are trying to prevent pregnancy, trying to get pregnant, are pregnant or entering menopause,” Koenig explained.
Ava continues to invest heavily in clinical trials with the University Hospital of Zurich under the direction of Prof. Brigitte Leeners to study applications of the Ava technology among women trying to get pregnant, suffering from fertility challenges, and to understand complications during pregnancy. Last year, Ava also hired its first Chief Medical Officer, renowned Bayer Schering veteran Dr. Maureen Cronin, to help shepherd the company through clinical and regulatory processes involved in new product development, particularly in the area of contraceptives.
“It’s exciting to work with a company that is literally reshaping the way we think about menstrual cycles, hormones and women’s health,” said Prof. Leeners. “Combining the best in science, data insights and technology is not only helping to create families, but improving women’s lives around the world.”
Founded in Switzerland in 2014 by industry leaders in wearable technology, women’s health, and data science, Ava is a medical technology company dedicated to bringing innovation to women’s reproductive health. The Ava bracelet, which received The Bump “Best of Baby Tech CES 2017” award for fertility and pregnancy and the Women’s Health “Editors’ Choice” award, is the company’s first consumer-facing medical device. Ava uses sensor technology, clinical research, and data science to precisely monitor a woman’s menstrual cycle or pregnancy in real time. The company is also conducting clinical studies to adapt and expand its algorithms for use as a non-hormonal contraceptive device. Ava has operations in Zurich and San Francisco.