Camberley's women's health monitoring platform OvuSense smashes crowdfunding target
Camberley-based women’s health monitoring platform OvuSense, which can help women access data to plan a pregnancy, has smashed its crowdfunding target to advance the business, bringing in £162,530 versus a target of £150,000.
The firm, which generated revenue of £970,000 in 2022, has already amassed over 45,000 customers so far and ten patents, according to the crowdcube website. It wants to use the cash to expand.
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It said half the money raised will go to developing strategic partnerships, including clinical studies, while 30% will go towards product development and the launch of a V3 app for additional segments.
The remaining 20% will be used for digital marketing.
Its technology comprises sensors, a dedicated app and clinician portal. The company says it monitors the female cycle in real time with 99% accuracy, as well as screen for common health conditions and also helps monitor diet change and treatment.
The company says it can predict ovulation 24 hours in advance using information from a woman's current cycle more accurately than ovulation predictor kits or monitors. The kit's average selling price is £195.
OvuSense reckons the addressable market in the US and UK amounts to 6.6 million women.
It added that 50% of women with common health issues go undiagnosed, which can lead to miscarriage, pain, and infertility.
It also said that 70% of drugs can be less effective for women than men so women can miss treatment benefits.
OvuSense says that unlike other products, OvuSense is an FDA cleared and European CE mark class II medical device, meaning it has to prove what it claims through externally reviewed clinical studies.
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