oova Raises $1.2M to Improve At-Home Fertility Tracking

Oova Launches At-Home Fertility Kit Following Seed Funding

Oova has formally introduced its Oova Kit following the successful acquisition of $1.2 million in seed funding. This funding round was spearheaded by BBG Ventures, with additional investment from Company Ventures.

The Oova Kit provides an at-home testing solution that quantitatively assesses two key hormones. This allows women – and their healthcare providers – to pinpoint fertile windows and verify ovulation.

Company Origins and Founder's Motivation

Founded in 2017 by Amy Divaraniya, who holds a Ph.D. in biomedical sciences specializing in genetics, Oova was born from personal experience. Divaraniya encountered difficulties conceiving due to irregular menstrual cycles.

She was advised to postpone evaluation until age 35, a timeline she was unwilling to accept. Driven by a desire for immediate action, she explored various methods, including ovulation predictor kits and basal body temperature tracking.

After 18 months, she successfully conceived her son. However, this experience highlighted a gap in the market: existing tools were primarily designed for individuals with regular cycles, failing to address the needs of those with irregularities.

Development and Functionality of the Oova Kit

This realization prompted Divaraniya to create Oova, a personalized, non-invasive, at-home solution for comprehensive hormone profile analysis.

Over the past four years, the company has concentrated on refining the technology to ensure accuracy. The Oova at-home kit includes a handle, 15 disposable cartridges, and a dedicated mobile application.

Users perform a urine test, scan the results using their smartphone's camera, and receive actionable insights. These insights include confirmation of ovulation and identification of optimal conception days. Physicians also have access to the data for collaborative patient care.

Unique Features and Market Differentiation

Oova distinguishes itself as the sole test currently available that measures both luteinizing hormone and progesterone, while also tracking hormonal changes over time.

Currently, the only alternative involves daily blood draws at a doctor’s office, typically reserved for individuals undergoing in vitro fertilization (IVF).

Investor Perspective and Market Opportunity

Susan Lyne, co-founder and managing partner of BBG Ventures, expressed a long-standing interest in women’s health and was encouraged to connect with Divaraniya by other industry leaders.

“The visualization of the menstrual cycle can be incredibly empowering for women,” Lyne stated. “Oova’s robust scientific foundation allows consumers to interpret their results independently, without requiring expert consultation.”

She further emphasized the quantitative nature of the test, providing a detailed hormonal profile that tracks changes over time, enabling users to anticipate ovulation.

Pandemic-Driven Shift and Current Adoption

Initially planned for direct-to-consumer launch, Oova experienced a shift in strategy due to the closure of fertility clinics during the pandemic. Physicians began requesting early access to the kits to support their patients remotely.

Currently, over 75 fertility clinics are utilizing the Oova platform.

Market Growth and Competitive Landscape

The global fertility technology market, encompassing services like IVF, genetic testing, and egg freezing, was valued at $33.1 billion in 2020. Projections estimate a rise to $47.9 billion by 2027, according to Precedence Research.

This contrasts with the forecasted values for at-home diagnostics and digital health markets, expected to reach $7 billion and $551 billion respectively by 2027.

Several other startups are also focused on increasing access to fertility care. Future Family recently secured $9 million to promote transparency in fertility costs and processes. Ro acquired Modern Fertility to expand its offerings, and Mate Fertility launched with $2.8 million in funding to establish a network of family planning services.

Future Plans and Funding Allocation

Having raised a total of $4.4 million, including the pre-seed funding, Oova intends to utilize the new investment to enhance its features and prepare additional hormone tests for release.

Divaraniya also plans to undertake a rebranding initiative, aiming to establish Oova as a fully-fledged company, rather than solely a research project.

The starter kit is available for $159.99, with refillable kits offered at $99.99 per month through a subscription model.

“While we began with a focus on fertility, our vision extends to other health areas, such as chronic disease management, allowing data-driven insights to guide both users and clinicians,” Divaraniya explained. “We are also actively working to incorporate estrogen into our panel, creating a comprehensive trifecta of hormones for optimal fertility assessment.”