News

Ovasave Empowers Women To Tackle Difficult Fertility Choices

The UAE-based startup helps women to test their fertility at home and connects them to a network of clinics offering egg-freezing procedures.

Published

11 months ago

August 28, 2023

Nour Nasir

Ovasave

Abu Dhabi-based Ovasave is on a mission to empower women to take control of their fertility. Founded by Torkia Mahloul and Majd Abu Zant, the startup seeks to ease the complexity of freezing eggs while encouraging women to start testing their ovarian reserves at thirty years of age to improve their chances of becoming pregnant in the future.

Ovasave’s digitized process is centered around a $100 FDA-approved self-administered home hormone test, followed by a remote consultation by a doctor from a vetted fertility clinic network. Depending on the results and the consultation outcome, patients can opt for an egg-freezing package from one of the clinics in the network.

ovasave home testing kit

“Access to fertility services is a major issue. Women are delaying having children, so their fertility is declining, but they are not acting on it because of a lack of awareness […] and because the fertility journey is fragmented and complex,” Ms Mahloul says.

Recent changes to reproductive health laws in the United Arab Emirates now allow single and married women to preserve eggs for both social and medical reasons (including pursuing education or career advancement or undergoing cancer treatments).

According to co-founder Abu Zant, freezing eggs costs around Dh25,000 per cycle, with storage averaging another Dh1,500 per year. In the UAE, frozen eggs can be legally stored for five years, with an option to extend by an additional five years.

Also Read: LVL Wellbeing Receives $10 Million Investment To Scale Operations

Ovasave is partnering with eight UAE fertility clinics and twenty IVF specialists. Users will be able to rate doctors so that other women can compare the reviews when they book a consultation.

So far, the co-founders have invested $400,000 into the startup and are seeking to raise up to $2 million over the coming six months. The funds will be used for technical development, recruitment, and general market growth.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.