Bonnier Growth Media, the corporate venturing arm of media conglomerate Bonnier, has participated in a $30m series B round for Sweden-based fertility tracking app developer Natural Cycles.
Venture capital firm EQT Ventures led the round with contributions from Sunstone Capital and E.ventures. Bonnier, Sunstone and E.ventures had previously funded Natural Cycles’ $5.9m series A round in June 2016.
Natural Cycles has developed an app that tracks a woman’s fertility as a method of contraception. It requires users to measure and input their body temperature each morning, and the information feeds into an algorithm that calculates their fertility level.
The app launched in 2014 and has since been certified as a method of contraception by the European Union. It is used by more than 500,000 women across 161 countries.
The new funding will be used by Natural Cycles for clinical research, product development, recruitment and international expansion.
Elina Berglund, co-founder of Natural Cycles, said: “This new investment will support our ambition for further clinical research into women’s preventive health care and digital contraception by combining the best from the worlds of science, medicine, pharmaceutical and tech.”