British femtech Elvie lands £58M funding for its smart breast pumps and more

The femtech industry is expected to become a $50 billion market by 2025. To capitalise on this growth, London-based Elvie, a leading femtech startup that develops iconic and smart products for women has bagged £58 million in a Series C funding round.

The investment round was led by BGF along with further investment from funds and accounts managed by BlackRock Private Equity Partners (“BlackRock”) and a consortium including Hiro Capital and Westerly Winds. Also, existing investors Octopus Ventures and IPGL took part in the round.

The Series C funds will be used to invest in three key areas including innovation and the development of new best-in-class products and services for women, continued expansion into new and existing markets, and strengthening Elvie’s operations and infrastructure ready for the next phase of high-speed growth.

Furthermore, the company will bolster the existing senior team by roping in Daina Spedding, BGF, and Persefoni Noulika, BlackRock to its board. This follows the recent hire of Sarah Highfield, who joined as COO and CFO in September 2020.

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