Elvie, a developer of a smart wearable breast pump & an app-connected pelvic floor exerciser, announced an $80 million Series C funding.
The Funding round was led by BGF, with further investment from funds and accounts managed by BlackRock Private Equity Partners and a consortium including Hiro Capital and Westerly Winds, plus existing investors Octopus Ventures and IPGL.
The company plans to use the new funds to invest in three key areas: innovation and the development of new products and services for women, continued expansion into new and existing markets, and strengthening its operations and infrastructure ready for the next phase of high-speed growth.
Elvie’s products include Elvie Trainer, an app-connected Kegel trainer that helps women strengthen their pelvic floor, and Elvie Pump, the wearable breast pump. The newest additions to the line-up are Elvie Curve and Elvie Catch, enhancing the Elvie breastfeeding range. Elvie Curve is a wearable silicone breast pump that uses natural suction to enable comfort. Elvie Catch is a set of two secure milk collection cups to catch leaks and collect additional milk.
“Elvie has already revolutionized every category it has entered – but we know that we have barely scratched the surface of what is possible for women’s tech. This further investment, alongside the wealth of expertise our new Board members bring, place Elvie in pole position to capitalize on the $50 billion femtech opportunity – and that’s only the beginning,” said Tania Boler, CEO, and Founder of Elvie. “We won’t stop until we have fulfilled our ambition to create the go-to destination for women’s health at all life stages, providing sophisticated, accurate, and personalized solutions.”
Wearable sensors companies raised $675 million in the first half of 2021. Current Health (formerly snap40), the developer of an AI-enabled wearable device that helps health professionals monitor patients in the hospital and at home, raised $43 million in a Series B financing round.
