London-based healthtech startup ExSeed secures £2.5m for its male fertility testing kit
London-based male fertility startup ExSeed Health announced the closing of £2.5 million investment round, taking its seed-stage funding to over £5 million.
This investment round was led by the Ascension Life Fund, with participation from Trifork, Hambro Perks, R42 Group, and other forward thinking organisations and business Angels dedicated to supporting ExSeed's mission to improve diagnosis and treatment of male fertility issues.
Özgür Tuncer, Partner, Ascension Life Fund: “ExSeed has an exciting technology that addresses a real need in the fertility market and they have established strong partnerships with leading pharmaceutical companies in the fertility space. They have a strong team and science which has been proven and we are really excited for them to be part of the Ascension Life Fund.”
This latest funding round comes at a time when ExSeed is already making huge waves in the fertility space. Its 4X growth last year was pretty incredible and over 15,000 tests have now been carried out through ExSeed's app.
Morten G. Ulsted, Co-founder and CEO, ExSeed Health: “This funding round is critically important for us and our mission to improve the treatment paradigm for male infertility and tackle the social stigma often attached. It will allow us to reach even more people in need and not least double-down on the research and development necessary to bring new and even better products to the market. By allowing men to test and potentially improve their fertility, in the comfort of their own home, ExSeed is helping to break taboos and raise awareness around male infertility. Moving forward, we see plenty of opportunities to work with relevant healthcare partners throughout Europe and globally, like the NHS and private fertility clinics, with an ExSeed test being the first step on a patient’s wider fertility journey.”
Declining fertility rates are amongst the most pressing health concerns for men across the world. Infertility affects 3.5 million people in the UK alone and sperm counts are almost half the level they were 40 years ago. ExSeed's at-home test brings an easy, comfortable way to test sperm health both before a potential visit to the clinic, but certainly also alongside clinical treatment as evidenced by our rapidly expanding network of clinic partners and others.
The kit brings together the powerful camera capabilities of modern smartphones with sophisticated, cloud-based analysis, which means you can give a sample in your bedroom and then get a live view of your sperm sample on your screen! Within 3-5 minutes you get a highly accurate quantitative analysis of your sperm concentration and motility and then ExSeed can recommend a bespoke lifestyle programme that could help you make improvements – or connect you with one of the fertility experts for extra support.
Dominic Perks, Co-founder and CEO, Hambro Perks: “Our investment in ExSeed demonstrates our ongoing confidence in the future of health tech. Male infertility is a growing problem that affects millions of men around the world, but remains largely taboo. We hope that ExSeed’s vision and mission to tackle this problem will improve the lives of millions of couples who struggle to conceive every year. We look forward to helping ExSeed continue to expand and working with the team to build this truly innovative health-tech platform.”
At ExSeed is proud to be part of a growing community of male voices that are breaking down the stigma associated with male infertility and raising awareness of the benefit of proactive testing and treatment. The company believes that the combination of innovative technology and a more open, honest and supportive conversation around infertility will help more men, women, and couples get better help and achieve improved treatment outcomes.