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Dandi, the maker of an at-home IVF kit and a virtual care provider, raised $1.3 million in pre-seed funding, CEO Jake Kent tells Axios exclusively. 

Why it matters: Venture money is flowing into fertility tech as 1 in 6 reproductive-aged couples experiences infertility.

Zoom in:  The round was led by Tiferes Ventures and included participation from Ruttenberg Gordon Investments, Winklevoss Capital, and the WeWork Alumni Fund. 

How it works: Dandi's virtual care platform connects patients with registered fertility nurses, who give patients information about the process, next steps, and possible reasons for difficulty in conceiving. 

Patients are given an $185 IVF care kit, which includes a belt, cooling pad, rechargeable heating pad, a massage ball, and shot targets (semi-permanent tattoos that indicate injection sites).

They can connect with nurses for injection support and virtual care support, and sessions cost $125. 

The kit is FSA and HSA eligible but not covered by insurance. 

What's next: The fresh capital will be used for product production, manufacturing, and distribution. 

Dandi expects to fundraise again at the end of 2024 or the beginning of 2025, if all goes according to plan, Kent says.

"We've kind of forged a spirit of focusing on meticulously managing every dollar and focusing keenly on a path to profitability."

What they're saying: "It is a complex landscape, with a mix of medical, emotional and financial pressure," Kent says. "We want to support them right away."

"Dandi has the opportunity to become a brand that parents, mothers in particular, feel connected to throughout the lifecycle of parenting," says Clark Valberg, managing partner at Tiferes Ventures.

"There's a massive opportunity here beyond just fertility."

State of play: Fertility tech startups raised more than $800 million in 2022 and demand for fertility services continues to climb.

Fertility financing support startup Sunfish Technologies raised $3.8 in seed funding last January.

Provider upskilling startup Mate Fertility secured a $5.2 million Series A last May.

 Fertility clinic operator and employer benefits provider Kindbody raised $100 million at a $1.8 billion valuation last March.

Exclusive: Dandi drums up $1.3M to guide fertility journey

Venture money is flowing into fertility tech.

Illustration of a cursor performing an embryo transfer instead of a syringe.

Health tech deals

Dandi, the maker of an at-home IVF kit and a virtual care provider, raised $1.3 million in pre-seed funding, CEO Jake Kent tells Axios exclusively. Why it matters: Venture money is <a class="gtmContentClick" data-vars-link-text="flowing" data-vars-click-url="https://www.axios.com/2023/01/25/venture-capital-flows-fertility-technology" data-vars-content-id="8c38153a-c8e6-4277-9fb5-fdd9a8c834a7" data-vars-headline="Exclusive: Dandi drums up $1.3M to guide fertility journey" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/01/25/venture-capital-flows-fertility-technology" target="_self">flowing</a> into fertility tech as 1 in 6 reproductive-aged couples <a class="gtmContentClick" data-vars-link-text="experiences infertility" data-vars-click-url="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8873180/#:~:text=One%20in%206%20reproductive%2Daged,of%20focused%20attempts%20to%20conceive." data-vars-content-id="8c38153a-c8e6-4277-9fb5-fdd9a8c834a7" data-vars-headline="Exclusive: Dandi drums up $1.3M to guide fertility journey" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8873180/#:~:text=One%20in%206%20reproductive%2Daged,of%20focused%20attempts%20to%20conceive." target="_blank">experiences infertility</a>.

Exclusive: Dandi drums up $1.3M to guide fertility journey

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