AiVF Raises $25 Million in Series A Round Led by Insight Partners to Help More People Become Parents
Medical technology company poised to transform the fertility journey with the first operational AI platform
TEL AVIV, ISRAEL--(Business Wire / Korea Newswire) June 23, 2022 -- AiVF®, developer of the first fully operational AI-based IVF software platform, announced today it has raised $25 million in a Series A round led by Insight Partners, a New York-based venture capital and private equity firm with participation from Adam Neumann’s Family Office, 166 2nd.
AiVF will use the funding to fuel adoption of the company’s AI platform, EMA™ in the United States and Europe, expand its work force and develop additional solutions to drive a new generation of digital fertility care.
“The dream of having a child has become more achievable for many because of AiVF’s entrepreneurial and technological prowess,” said Jeff Horing, Managing Director at Insight Partners. “We are strongly behind the expert leadership, the company strategy and are excited to be part of this leap forward in fertility care.”
The EMA platform provides an optimized end-to-end IVF journey to individuals seeking Assisted Reproductive Technologies for their family building. The advanced machine learning and computer vision algorithms developed by AiVF have the potential to shorten the time to pregnancy and increase IVF predictability and success rates.
Results of clinical research, performed with leading IVF clinics in Europe and the US, demonstrated that the EMA platform performs 50 times faster and is 48% more accurate than an embryologist in the clinic. After three years of extensive research and development, the platform is now operational across Europe and Asia. AiVF anticipates rapid deployment of its platform, as fertility clinics look to incorporate second generation IVF technologies to allow for improved IVF care.
“Our vision is to help individuals realize their dream to become families,” says Daniella Gilboa, AiVF co-founder, CEO, and clinical embryologist. “We are delivering innovative products to the market while enhancing the science of reproductive medicine to drive the next generation of fertility care.”
Since the first child was born by IVF 43 years ago, advances in fertility treatments have brought millions of children into the world. However, the technology is costly and outdated and is not able to keep up with the soaring demand. It is estimated that by the end of the 21st century, the number of IVF babies globally may reach over 1 billion.
“We can now leverage data to augment expertly trained clinicians, drive efficiencies and provide a new level of fertility care for all,” added Prof. Daniel Seidman, AiVF co-founder, chief medical officer, and an internationally renowned IVF specialist.
AiVF is a medical technology company empowering clinics with fertility intelligence. The company’s flagship product is an AI software platform that helps accelerate data-driven, automated and standardized processes for IVF patient care. The company partners with leading clinics around the globe to advance research and innovation in reproductive medicine. AiVF was founded by Daniella Gilboa and Prof Daniel Seidman, two Reproductive Medicine experts, in 2018 and is headquartered in Tel Aviv, Israel.
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The Bliss Group
This is a news release distributed by Korea Newswire on behalf of this company.