Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
IMG 9073 498 SBI 300726536 - Business Express
Image of two confident businesswomen working with touchpad in office

Disruptive femtech Elvie firm announces £58m Series C funding round


Investment will focus on continuing to improve women’s lives through smarter technology

LONDON – 27 July 2021 Elvie, the revolutionary global health and lifestyle brand developing iconic products for women, today announces a £58m ($80m) Series C funding. The funding round was led by BGF, with further investment from funds and accounts managed by BlackRock Private Equity Partners (“BlackRock”) and a consortium including Hiro Capital and Westerly Winds, plus existing investors Octopus Ventures and IPGL.

Founded in 2013 by CEO Tania Boler, Elvie brings together a team of world-class engineers, designers and business minds to develop extraordinary products that improve women’s lives – revolutionising categories which had been overlooked for many years, including breast pumps and pelvic floor health.

Elvie’s products include Elvie Trainer, an award-winning app-connected Kegel trainer that helps women strengthen their pelvic floor and Elvie Pump, the world’s first silent wearable breast pump. In October 2020, the company brought to market two new breastfeeding products, Elvie Catch and Elvie Curve.

Since the launch of Elvie Pump on the catwalk of London Fashion Week in September 2018, Elvie has experienced hyper-growth. The business grew 6x in 2019, almost doubled in 2020 despite widespread Covid disruption – and is on track to double again in 2021. The company launched 10 new markets across EU and Asia in the last 12 months and continues to see rapid sales growth in the US, the world’s biggest breast pump market.

Elvie Pump has assumed the number 1 position in its category in the US and UK. Elvie will continue to drive its leadership in the breast pump category whilst simultaneously expanding its product portfolio into other key life stages – to become a global platform for all women’s health needs.

The Series C funds will be used to invest in three key areas: 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.

The femtech industry is expected to become a $50 billion market by 2025 (Frost and Sullivan).

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Tania Boler, CEO and Founder of Elvie, said: “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.

“This further investment, alongside the wealth of expertise our new Board members bring, place Elvie in pole position to capitalise on the $50 billion femtech opportunity – and that’s only the beginning.

“We won’t stop until we have fulfilled our ambition to create the go-to destination for women’s health at all life stages; providing sophisticated, accurate and personalised solutions.”

To bolster the existing senior team in the fast-growing femtech market investors Daina Spedding, BGF, and Persefoni Noulika, BlackRock, will join the Elvie board. This follows the recent hire of Sarah Highfield, who joined as COO and CFO in September 2020 and was previously CFO of Costa Coffee.

Daina Spedding, investor at BGF, said: “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. As an all-female BGF deal team, and leading investor in female-led scaleups, we admire Elvie’s vision, strong track record and R&D capability which have brought a tangible positive impact on women’s lives. We are very excited to back Tania and her exceptional team to supercharge new product innovation and continued growth worldwide.”

Persefoni Noulika, Director, BlackRock Private Equity Partners, said, “Elvie has established itself as a brand innovator within the women’s health and wellness space and has already commercialized two breakthrough, patented and FDA-approved devices. We are pleased to support Tania and Elvie’s management team and help continue the company’s strong growth momentum.”

Cherry Freeman, General Partner at Hiro Capital said: “We are delighted to be investing in Elvie in partnership with Westerly Winds, alongside BlackRock and BGF. Tania is an extraordinary, passionate entrepreneur who has built one of the world’s leading femtech innovators. Hiro invests in brilliant, ethical creators building the next generation of games, fitness technology and digital wellness – Tania’s vision is a perfect fit with our values as a fund.”

Recent Post: