Dadi Secures $5M Seed Extension to Expand Affordable At-Home Sperm Analysis and Cryopreservation Services

On August 8, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Dadi, a startup specializing in male sperm storage, had secured an additional $5 million in seed funding. Khaled Kteily, founder and CEO, stated that the funds would be used to expand Dadi’s sperm analysis and cryopreservation services.

This funding round was led by TCG Capital, a subsidiary of Chernin Group, with participation from existing investors Firstminute Capital and Third Kind Ventures. Marco DeMeireles, a partner at TCG Capital, will join the board of directors of Dadi.

Dadi also announced the establishment of a Scientific and Technical Advisory Committee, composed of leading industry experts, including Dr. Michael Eisenberg, Associate Professor of Urology at Stanford University Medical Center, and Dr. Jacques Cohen. Dr. Walter Reed, Laboratory Director at the Washington Art Institute, will join Dadi as a Clinical Laboratory Consultant, and Dr. Grace Centola will serve as Dadi’s Scientific Director. The formation of this new committee aims to provide guidance on cutting-edge breakthroughs in fertility testing and sperm storage technologies.

It is reported that Dadi completed a $2 million seed funding round in January 2019.

Dadi, founded in January 2019 and headquartered in New York, USA, is a startup specializing in male sperm storage. The company offers FDA-authorized at-home male fertility testing and sperm storage kits. Dadi’s family planning solutions are ten times more affordable than those provided by traditional clinics.

Dadi, co-founded by Tom Smith, Mackey Saturday, and Gordon von Steiner, is dedicated to helping men understand their reproductive health by providing a simple and accessible fertility solution, while also educating consumers on male reproductive health. Dadi’s patented at-home fertility testing and sperm storage kits offer men a low-cost service for long-term sperm preservation.

Not long ago, Legacy, another male fertility startup offering sperm testing and cryopreservation services, secured $1.5 million in seed funding. Both companies aim to leverage venture capital to become dominant brands in the male fertility sector. Customers of Dadi and Legacy can simply order a DIY sperm collection kit online, collect their samples, and mail them back to receive a comprehensive fertility report.

Meanwhile, both companies also offer sperm storage services. Dadi charges a total of $199.98 for its sperm testing kit and one year of sperm storage, whereas Legacy charges $350 per year, with sperm stored in cryogenic facilities and an additional monthly fee of $20.

“Over the past six months, we have been encouraged by clients who have turned to Dadi for assistance in preparing for healthy families in the future,” said Tom Smith, Co-Founder and CEO of Dadi. “Unlike other fertility services, our long-term relationships with clients begin from the moment they start considering having children. Our mission is to continue focusing on the normalization of reproductive health and to serve as a partner for families who wish to have children.”

“For a long time, men have lacked a data-driven approach to understanding and managing their fertility,” said Marco DeMeireles, partner at TCG Capital. “Forty percent of infertility cases are linked to male factors, and Dadi is addressing a significant unmet need in reproductive health.”

TCG Capital, established in 2013 and headquartered in Florida, USA, is an international financial investment company. The company is a joint venture between Cannaregio Group and American Capital Financial Group. TCG Capital’s primary objective is to integrate the expertise, relationships, and services of both financial groups. In essence, this joint venture serves as a credit and investment vehicle designed to meet the working capital needs of entrepreneurs and corporate clients, as well as the requirements of current and future investors.

Firstminute Capital, founded in 2017 and headquartered in London, UK, is an early-stage venture capital firm dedicated to investing in early-stage startups across Europe.

Third Kind Ventures, established in 2010, is a venture capital fund headquartered in New York, USA, focusing on early-stage investments.

(Compiled by Cheng Tao)