France based company female led Imvitro has raised investment of $ 2.5 Million from New York based VC LDV Capital
France-based biotech company ImVitro is behind the B2B SaaS platform EMBRYOLY that applies computer vision and artificial intelligence (AI) to the IVF fertility imaging process, has just raised $2.5M seed round. The investment was led by a New York-based VC LDV Capital, the only venture capital firm with a thesis of investing in deep tech people building businesses powered by visual technology. Co-investors in this round include London-based MMC Ventures, Tiny VC, Fly Ventures, and Compound VC.
IVF Process is very complicated, the People who currently go through the IVF process face repeated failed pregnancies. ImVitro aims to minimise the number of failed transfers, increase quality control and transparency along the entire IVF workflow for patients, as well as reduce costs and save clinicians’ time.
More than 1500 IVF cycles have now been processed by EMBRYOLY, leading to a growing number of ImVitro-assisted pregnancies – present in dozen clinics across Europe.
The Paris-headquartered of ImVitro company will use this funding to add key hires across technical and sales teams, expand to the U.S. market, and develop additional features to their software to keep saving clinicians’ time.
Founded by Alexandra Boussommier, a biomedical engineer that has done extensive research around tissue and cell culture & imaging at EPFL, Imperial College London and MIT, ImVitro is a diverse team of 12 experts in AI, medtech, and regulatory affairs.
“By taking into account data about the patients and their treatment, EMBRYOLY predicts more accurately the chances an embryo has to lead to a pregnancy and provides more transparent and personalised recommendations” explained Dr. Alexandra Boussommier, Founder and CEO of ImVitro.
ImVitro developed an operating system that combines the power of cell culture and AI to tackle infertility. As a starting point, the company brings AI-powered automation to the embryo evaluation process which is at the heart of the IVF workflow. EMBRYOLY analyses videos from microscopes to save clinicians’ time, bring transparency to patients, eliminate human errors and deliver reliable predictions to embryologists at scale. With ImVitro, clinics can also grant access to their patients to a patient portal to deliver simplified lab results.
“We are very excited to be entering this new chapter that will consolidate our AI-driven software not only as a tool that minimises failed IVF treatments, but also one that increases workflow efficiency in the IVF lab and provides a bridge between doctors and patients to add transparency to the complex multi-step process that is IVF,” added Dr. Alexandra Boussommier, Founder and CEO of ImVitro.
“ImVitro helps embryologists and patients at our clinic to navigate the complex process of IVF. It not only increases the efficiency of the work that we do but also provides much-needed transparency. Their AI-powered platform EMBRYOLY seamlessly connects to our technology stack and helps us make data-driven decisions about embryos that we observe in our lab which then lead to successful pregnancies,” says Dr. Xavier Pollet-Villard, Director of the Nataliance IVF and Andrology laboratory.
“We at LDV Capital are thrilled to partner with Dr. Alexandra Boussommier and the brilliant team at ImVitro to bring EMBRYOLY to market across the globe so millions of people can increase their likelihood of having a successful pregnancy through the IVF Fertility process. ImVitro will deliver a leapfrog technical solution to the IVF fertility imaging process by leveraging computer vision and artificial intelligence which has been a core expertise of our LDV Capital firm since being founded in 2012,” said Evan Nisselson, Founder and General Partner at LDV Capital.
“We’ve been researching the fertility landscape, and the IVF process has not improved since the first IVF baby over 40 years ago. ImVitro’s team combines deep-tech expertise and entrepreneurship, leveraging computer vision and AI to increase the percentage of successful pregnancies. We are proud to be part of their journey,” commented Charlotte Barttelot, Principal at MMC Ventures
News Resource – techfundingnews.com, December 6, 2022