MADRID, May 26, 2021 /PRNewswire-PRWeb/ -- Overture Life, the IVF process automation startup, today announced the successful closing of a $15M in a Series B financing. Proceeds from the financing will be used to increase its operations in Europe and the US and begin commercialization of its first products. The round brings the company's total fundraising to $37M.
The financing was led by Octopus Ventures, a top life sciences investor based in the United Kingdom, and was joined by GV and the venture capital investment arm of Alphabet Inc, in its first Spain-based investment. Additional investment was received from existing investors such as Khosla Ventures, Felicis Ventures, and Marc Benioff, who are all early backers of the company.
"Overture Life will automate and robotize the embryology lab, improving IVF and egg freezing success rates and lowering costs, thereby democratizing access to fertility," explains Martin Varsavsky, Overture Life's CEO, "It is a significant validation of our vision and of our technical progress that investors such as Octopus and GV are joining us in our mission."
"Overture has made solid progress in addressing the promise of making assisted reproductive therapies more available to those who suffer from the physical and emotional trauma of infertility," said Luke Hakes, Partner at Octopus Ventures. "We are proud to partner with this exceptional team and look forward to seeing the results of their development process."
Overture Life strives to democratize processes in assisted reproduction to make them more accessible, simplify techniques, and optimize use of resources. Overture currently employs 60 multidisciplinary specialists across the fields of software, microfluidics, robotics, embryology, and reproductive medicine.
The company is developing medical devices and novel embryo testing methodologies that will automate all stages of the IVF process, lowering costs and increasing throughput for IVF practitioners. The devices are being developed in its facilities located in Madrid and Barcelona. Overture Life expects to have their first devices available by the end of the current year.
About Overture Life Inc.
Overture Life strives to democratize processes in assisted reproduction to make them more accessible, simplify techniques, and optimize use of resources. Overture has a staff of 60 specialists in reproductive biomedicine and is present in Europe and the U.S.
https://www.overture.life/
About Octopus Ventures
Octopus Ventures, part of the Octopus Group, is built to specialize in the four areas they believe will change the world for the better: health, money, deep tech and consumer. The firm has backed the founding teams of more than 100 companies including Zoopla, Secret Escapes, graze.com, tails.com, Swiftkey, Elvie, Depop, Sofar Sounds, Big Health, Bought By Many, ByMiles, OLIO and Cazoo. Portfolio companies have gone on to join forces with the world's largest businesses including Google, Amazon, Microsoft and Twitter. With £1.3 billion under management and investing over £100m a year, Octopus Ventures is one of the largest and most active venture investors in Europe. Their typical investment is from £1 million for Seed to £10 million for Series B and can continue to fund the companies we back right through to IPO. Octopus is based in London and New York with a network that spans from San Francisco to China. The companies we back become a part of this network, with access to a formidable resource of experience and expertise.
Press Contacts:
Overture Life –Kerry Petrocelli: [email protected] / (631)-258-1555
Media Contact
Kerry Petrocelli, Victory Public Relations, +1 631-258-1555, [email protected]
SOURCE Overture Life
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