Just six months after launching in the UK, Austrian femtech pioneer breathe ilo announces a €3 million funding round to invest further into the market.
Breathe ilo, which is one of the world’s first CO2-based fertility tracking devices, plans to use the investment to drive further production to fulfil demand from customers. The innovative handheld breathe ilo device measures CO2 saturation levels to track and estimate peak fertility periods during a woman’s ovulation cycle.
Led by AWS Gründerfonds, one of the largest Austrian Venture Capital funds, with the participation of its existing shareholders, this investment will enable breathe ilo to continue its product development and expansion to supply the UK. The UK fertility sector is estimated to be worth £320 million (around €370.3 million) and the company has seen sales and subscriptions increase month-on-month since launch.
Committed to helping women improve their chances of having a child, breathe ilo also reinvests 50% of the sales price into financing studies of women’s fertility and menstrual cycles.
Founded in 2013, breathe ilo is the brainchild of leading gynaecologist Professor Dr. Ludwig Wildt and Dr. Horst Rüther, the parent company of breathe ilo, Carbomed Medical Solutions GmbH. breathe ilo was launched in the UK in September 2020, following successful launches in Austria and Germany.
Lisa Krapinger, CMO at breathe ilo, commented: “Even though many industries have been hit hard by the pandemic, the fertility market has exploded, fuelled by our focus on the importance of our families and loved ones. Thanks to our expansion into the UK, we reached our annual 2020 revenue goal within the third quarter, which was a significant milestone for the company.”
Bastian Rüther, breathe ilo’s CEO, added: “This investment will contribute significantly to our expansion in the UK, improving our product supply and presence within the market. Additionally, we are working on licensing further product features and preparing for a launch in other English speaking markets at a later date. In 2021, we hope to triple the turnover ahead of a Series A round of investment at the beginning of the following year.”