London IVF insurance coverage startup Gaia raises $20 million



London startup aiming to broaden entry to IVF has raised $20 million (£14.75 million).

Gaia, which was based in 2019 to make IVF extra financially accessible, introduced a $20 million funding from Atomico, including to earlier funding from Kindred Capital, Seedcamp and US based mostly Clocktower Expertise Ventures.

Gaia CEO and founder Nader AlSalim advised the Commonplace: “15% % of individuals want fertility therapy, and within the UK and the US lower than 2% of these individuals truly find yourself accessing it.

“The hole between those that want entry to fertility remedies and those that can afford entry to therapy is the under-served market that we’re making an attempt to create a class for.”

Gaia’s insurance coverage product, which launches at present, makes use of medical information to foretell the variety of IVF rounds a pair will want. Those that wouldn’t have a stay delivery within the rounds topic to Gaia’s prediction expertise will solely pay a fraction of the therapy value.

{Couples} who’re profitable will be capable to unfold the fee into manageable month-to-month funds over time.

Gaia claims to be the world’s first IVF insurance coverage product, buying and selling on the Lloyd’s of London market as a canopy holder of Beazley.

In addition to monetary assist, Gaia’s will supply entry to a therapist for psychological and emotional assist.

AlSalim mentioned: “Cash is just one a part of the issue. There may be additionally a psychological and emotional affect, which is big and really taxing on the couple.

“We are able to’t actually have an effect on the physiology of the therapy, however we need to attempt to management all the different variables, from entry to data, to emotional assist within the type of a therapist, or monetary assist within the type of our insurance coverage product.”

AlSalim based his startup after he and his spouse skilled the frustrations and limitations of IVF. He named the startup after the Greek goddess of Earth, who gave delivery with out male help.

At present’s $20 million funding brings the corporate’s complete funding to $23 million. Atomico associate Sasha Astafyeva will be a part of the Gaia board as a part of this funding.

She mentioned: “With extra individuals turning to fertility options, Gaia’s supply is effectively positioned to play an important function in serving to large numbers of households who’re frozen out of the therapy course of based mostly solely on monetary causes past their management.”

Gaia, which was one of many Commonplace’s tech startups to observe in 2022, will use the funding to additional scale its operations and start to broaden globally, focusing on markets such because the US.

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