Toronto-based startup Fibra has closed its oversubscribed pre-seed funding round, raising $1.25 million USD ($1.7 million CAD). The funding will be used to accelerate the development of Fibra’s smart underwear technology designed to ease reproductive health monitoring for women. The round saw participation from Canadian and U.S.-based venture capital firms, reflecting growing investor confidence in innovations focused on women’s health.
“We are excited to announce the successful close of our oversubscribed pre-seed fundraising round. This milestone reflects the strong confidence and support from our investors, including prominent Canadian and U.S.-based VCs. This funding will accelerate our mission to revolutionize women’s reproductive health monitoring and drive the next phase of our innovation,” said Fibra’s founder, Parnian Majd.
Fibra is developing a non-invasive wearable device that tracks conveniently tracks fertility data. The connected Fibra app will allow users easy access to reproductive health and fertility insights, aiming to improve their chances of conceiving. Fibra’s technology is positioned as an alternative to traditional fertility tracking methods.
With this fresh injection of capital, Fibra now plans to further its product development and bring its wearable device and app to market.
