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Veteran investor Michael Spencer in funding boost for femtech startup Elvie

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Emma Martin
Mar 31, 2019 21:06
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Former Conservative Party treasurer Michael Spencer is reportedly leading a funding round for female health start-up Elvie.

Spencer’s private investment vehicle IPGL is backing the company with an investment worth around £20m, Sky reported this evening.

Elvie, which last year partnered with the NHS to develop a kegel exerciser product, raised $6m (£4.6m) in 2017 from supporters including Spencer and European venture capital firm Octopus Ventures.

This month it placed giant inflatable breasts on London rooftops in a marketing campaign to encourage women to feel confident breastfeeding in public.

The health company is undertaking a wider fundraising which could be finalised this week to fuel its expansion.

IPGL’s backing would be part of this.

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Emma Martin
Mar 31, 2019 21:06
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