Overture Life will automate and robotize the embryology lab, improving IVF and egg freezing success rates and lowering costs, thereby democratizing access to fertility
MADRID (PRWEB) May 26, 2021
Overture Life, the IVF process automation startup, today announced a $15M in a Series B round bringing its fundraising total to $37M as it continues to attract investments in its mission to democratize in-vitro fertilization.
Octopus Ventures, a top life sciences investor based in the UK, led the Series B round in the biotech company. GV also participated in the round, 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.
“Biotechnology is by nature a sector in constant growth due to the nonstop influx of innovations that improve people’s quality of life. When applied to health and, concretely, fertility, these developments make biotech one of the most promising fields in science and in society as a whole. This explains the interest we are seeing from investors who usually work with other sectors but aim to broaden their exposure,” remarks Luke Hakes, Partner at Octopus Ventures.
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. This round will enable the biotech company to increase its operations in Europe and the US and begin commercialization of its first products.
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.
“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.”
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.
About Octopus Ventures
Octopus Ventures, part of the Octopus Group, is built to specialise 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. We are 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.
Overture Life –Kerry Petrocelli: Kerry@victorypublicrelations.com / (631)-258-1555