Gaia, an IVF startup based in London, has reportedly announced that it has recently secured $20 million in a Series A fundraising round led by the London-based venture capital firm, Atomico.
Seedcamp, Kindred Capital, as well as US-based Clocktower Technology Ventures are among the firm’s previous investors. the new round brings Gaia's total fundraising to $23 million. Sasha Astafyeva, an Atomico partner, is also set to join the Gaia board of directors as part of the deal.
Gaia aims to ‘de-risk’ the entire IVF fertility treatment process by offering services such as customized insurance as well as payment plans.
Gaia claims to have predictive technology that essentially predicts the number of total rounds a couple will probably need, including the clinics that can provide the appropriate treatment, based on the clinical data sets.
Nader AlSalim, Gaia’s founder and CEO stated that today’s fertility care model is supposedly broken as the ever-existing divide between couples wanting proper access to fertility treatments and the ones who can afford the treatments is bigger than ever.
AlSalim added that three out of every four individuals who want to undergo fertility treatment seldom do so because they fear the cost will be too high. It is important to reconsider how people experience, access, and afford the treatments that are both mentally and physically challenging, with just one in seven individuals in the United Kingdom and the US requiring IVF.
According to him, Gaia's model ensures that people who cannot get a live delivery in the rounds where Gaia's prediction technology is used, pay lower treatment expenses. Those who do have a baby can split the cost of their overall treatment sessions over several months, making it easier to plan.
Astafyeva explained that a variety of issues, ranging from diminishing sperm counts to people having children later in life are putting increasing pressure on the need for fertility treatments. With more people turning to fertility treatments, Gaia's offer is well-positioned to help many families who cannot afford IVF treatments due to financial constraints.