- What does your company do and what product/service do you sell?
Adia Health is a fully digital platform that supports women through their fertility journey. We do this by providing easy access to fertility specialists, blood tests that women can take at home, and a large amount of educational content to help better prepare them as well as help educate.
- When did you start developing an interest for this industry and what motivated you to make a product or service for this industry?
My motivation to start the company within this industry came very much from my own personal experience. I was one out of an increasingly growing trend of women that have to delay pregnancy until their mid- 30s because they are focusing on their careers or other aspects of life. Unfortunately once this point is reached and these women are ready to start their families, things don’t always go as smoothly as expected. I never anticipated that it would be so difficult to start my family, and it was through this experience that I realized a change needed to be made. Whether it is difficulty conceiving, or pregnancy loss, I realized that our society’s approach to women’s reproductive struggles is more reactive when it should be proactive. Most women only be see doctors or do tests after they already have a problem. I think we should be doing more to support and educate women so that they can understand this data better, as well as their own bodies before they start experiencing these issues. This way hopefully we can prevent some of these problems before they happen.
- What was the search process for investors like, and how was the experience of being financed by a Venture Capital?
We were very lucky to be part of an accelerator, called Zinc Venture Capital. Zinc VC is a venture firm that helps build new companies focusing on social issues. We were part of their first mission focusing on women’s health. While we were working through the accelerator program towards the end of six months, there are pitch sessions where you can meet a lot of investors all in one place. Seeing as these were companies driven with a social purpose mission, the accelerator attracted us certain types of investors. We were then able to filter the people that we would eventually be working with, so we were very lucky with that.
- What kind of support do your investors offer to you and your business currently?Our lead investor is Seedcamp VC, and they are one of the leading seed investors in Europe. Obviously they support us with direct capital, but they also have helped us through networking. Since Seedcamp is such a big investment firm, they have a vast accumulation of portfolio companies. Because of this, we now have a huge network of founders at different stages. Some are younger and some are much further along in terms of business development, so it becomes a really supportive network from which you can learn and access skills at your disposal.
- What advice would you give to someone who has a startup or a small company that is looking to grow their business financially?
Definitely speak to everybody. Speak to angel investors, speak to venture capital firms, look for grant opportunities, whatever it may be. Be very broad in thinking about and searching for your financial resources because you never know where the money is going to come from. In our experience we’ve gotten money from angels, grants, government, as well as institutional investors. The more people that you speak to and the more you broaden your search, the more capital you will actually raise and the closer you will get to reaching your goals.
The BizPlace Team