Axa Investment Managers, a division of insurance firm Axa, has led a $13.9m series C round for US-based obstetrics device developer Alydia Health through its Impact Investing Strategy vehicle.
The round included social impact investment fund Global Health Investment Fund (GHIF) and venture capital firm Avestria Ventures. It followed $10m in series B funding from GHIF, Astia Angels and unnamed additional investors in September 2018.
Alydia has built a medical device called Jada System to treat postpartum haemorrhage, a potentially fatal loss of blood caused during childbirth when the uterus is unable to contract effectively, by gently applying suction to collapse the uterus until it is able to resume functioning.
Zina Affas Besse, managing partner at Global Health Funds, an affiliate of Axa’s Prime Impact Fund, has joined the company’s board of directors in connection with the round.