Ava, a medical technology company focused on innovations in women's reproductive health and maker of the popular cycle tracking Ava bracelet, 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. For more information see the IDTechEx report on digital health 2018 and wearable sensors 2018-2028
Ava also announced 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.
The Ava Fertility Tracker is for women who want to monitor their health for trying to conceive or getting to know their bodies. The Ava bracelet tracks a woman cycle while sleeping, Ava's sensors collect data on nine different physiological parameters. Ava's algorithm then detects the fertile window, physiological stress level, sleep quality, and more. Other methods of fertility tracking rely on only a single parameter, and thus cannot provide a complete picture of your fertility in real time. Ava detects the very first signs that the fertile window is beginning, and confirms when it ends.
"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."
Source and top image: Ava