Fairtility™ Closes $15 Million Series A Funding Round
Funding Supports Further Development of Transparent AI Platform Designed to Improve IVF Outcomes, Starting with CHLOE EQ™, Fairtility's Embryo Quality Assessment Assistant
TEL AVIV, Israel, May 23, 2022 /PRNewswire/ -- Fairtility™ , the transparent AI innovator powering in vitro fertilization (IVF) for improved outcomes, today announced the completion of a $15 million Series A funding round, bringing total funding to $18.5 million to date. The round was led by Boston based, Gurnet Point Capital, and included Nacre Capital and additional investors.
Lacking objective and consistent methods for consolidating and interpreting end-to-end data from the embryology lab, IVF yields suboptimal and inconsistent outcomes. Yet, reproductive health professionals have been slow to adopt AI technologies more commonly used in other areas of healthcare, due in part to the lack of transparency in AI analysis. Fairtility challenges this paradigm by transforming AI-decision-making in IVF into a transparent process for both clinicians and patients with CHLOE EQ™ (Cultivating Human Life through Optimal Embryos), Fairtility's Embryo Quality Assessment Assistant.
CHLOE EQ™ provides visibility into the biological data that informs the system's embryo assessment conclusions. CHLOE EQ™'s data output is intended to support IVF professionals' experience and intuition, augmenting decision-making with the collective analysis of millions of data points collected from a diverse set of embryology labs and workflows globally. Powering IVF professionals with this data facilitates improved decision-making and informative conversations with patients with the goal of reducing the number of IVF cycles to live birth and improving patient care.
"Despite advancements in fertility treatments, IVF still only averages a 30 percent success rate per treatment cycle," said Eran Eshed, Co-Founder and CEO of Firtility. "We are excited to partner with such prominent investors that are helping us realize our vision of enhancing IVF outcomes and efficiency through digitization. We believe that the transparency and user-centricity of our platform will significantly improve workflow efficiency, and data-driven decision-making for better IVF outcomes. This will make IVF more accessible to a larger population of people contending with infertility."
"We are truly excited to partner with Fairtility as they connect state of the art technology to improve women's health and provide better infertility care for those desiring a family," said Sophie Kornowski, Senior partner at Gurnet Point Capital. "After a long and thorough diligence process, we believe that Fairtility has the best in technology and ability to execute on our shared vision."
"IVF is a field of medicine that is primed for AI adoption, yet current solutions remain limited in their scope. IVF professionals are not given access to data that explains AI outputs; clinicians today are asked to 'trust' the system," said Howard Morgan, Chairman of Nacre Capital. "Fairtility's approach is above the rest technologically with all the ingredients needed to create profound transformation in this market – world class data-scientists, fertility specialists and no less important, an experienced leadership team which has built numerous successful companies."
Fairtility is investing resources from its Series A funding round into advanced clinical research with fertility clinics and marquee academic institutions globally, as well as in regulatory approval processes. The company continues to develop CHLOE™ beyond embryo assessment to span the full breadth of IVF treatment.
Fairtility is powering in vitro fertilization (IVF) through transparent AI to improve outcomes. Equipping clinicians and their patients with unparalleled visibility into IVF treatment, CHLOE™ (Cultivating Human Life through Optimal Embryos) is the first and only transparent AI-based decision support tool that provides clinicians with complete visibility into the clinical and laboratory parameters that make up data output to help improve IVF outcomes. Beginning with CHLOE EQ™, a proprietary embryo grading platform, Fairtility is on a path to expand CHLOE™'s application to span the full IVF journey - from infertility cause assessment through transfer optimization. To learn more about Fairtility™ or schedule a demo, visit our website and follow us on Twitter and LinkedIn .
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