Sweden-based fertility tracking app developer Natural Cycles is raising SEK50m ($5.9m) from investors including Bonnier Media Growth, the corporate venturing arm of media conglomerate Bonnier.
Bonnier was joined in the round by venture capital firms Sunstone Capital and E.ventures, both of which participated as existing backers, though Natural Cycles has not disclosed information regarding earlier funding.
Natural Cycles has built a fertility tracking app that has been clinically tested, and which it claims is as effective at preventing pregnancies as the contraceptive pill.
The funding will support more clinical testing, the growth of the startup’s 12-strong team and international expansion, with the US a particular focus.
Ulrika Saxon, CEO of Bonnier Growth Media, said: “Natural Cycles has a unique product and a best-in-class team with a combination of scientific, technology and business competencies.
“This makes them a perfect match for Bonnier Growth Media’s focus on backing ambitious founders who are building exceptional digital consumer businesses where we can add value in terms of consumer understanding and scaling the business further.
“Natural Cycles’ mission of making every pregnancy wanted is not only an engaging endeavour to be a part of, but we are convinced that it is also a great business opportunity.”