Elvie secures £58m Series C funding led by BGF to expand its product range.
The Series C round was led by BGF with participation from BlackRock, Hiro Capital, Westerly Winds, Octopus Ventures and IPGL.
Elvie is a London-based health and lifestyle brand that develops technology products for women, including breast pumps and pelvic floor devices.
Elvie has secured £58m in a Series C funding round led by BGF. Additional backing came from BlackRock Private Equity Partners, a consortium comprising Hiro Capital and Westerly Winds, and returning investors Octopus Ventures and IPGL. The capital will be directed towards developing new products, expanding into fresh markets, and reinforcing company operations.
The health technology brand has seen rapid expansion following the launch of its wearable breast pump, with international sales climbing across Europe, Asia and the United States. Management intends to use the fresh injection of capital to scale its product portfolio and secure its position as a major platform for women's health needs.
From the founder
"Elvie has already revolutionized every category it has entered – but we know that we have barely scratched the surface of what is possible for women’s tech."
Tania Boler
CEO and Founder at Elvie
Investor perspective
"BGF is delighted to lead this funding round into Elvie, which we regard as the best-in-class innovator in the femtech sector with strong underlying market dynamics and truly global reach."
Daina Spedding
Investor, BGF
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Scale operations
Investors
Daina Spedding
BGF
Persefoni Noulika
BlackRock
Cherry Freeman
Hiro Capital
Edward Van Cutsem
Westerly Winds
Octopus Ventures
IPGL