We have just made our 1st investment in Baymatob!
Global Bio Fund, investing in gender smart health-tech ventures in US UK and Australasia, is proud to announce that we have made our first investment in the Australian women-led med-tech company Baymatob as part of their Series A fundraising round totaling A$ 4.565 million.
Our investment was supported by Even Capital, New Zealand’s only female founded-funded-focused growth stage venture capital fund, and other high net worth investors. The proceeds will support their ongoing in-human clinical development and path to commercialization helping them address preventable pregnancy-related deaths with their AI-guided labor monitoring device, Oli.
Founded by engineer and mother Dr Sarah McDonald after her own traumatic birth experience, Baymatob’s innovative wearable device Oli uses artificial intelligence to identify mothers during labor who are at high risk of developing postpartum hemorrhage (PPH) well before giving birth. In August 2021, Oli received Breakthrough Device designation by the US Food and Drug Administration (FDA), granting the company an expedited regulatory review path and providing timely clinical access for select medical devices with potential to transform US clinical practice.
Postpartum hemorrhage, or heavy bleeding after childbirth, is a serious complication of pregnancy and is the world’s leading cause of preventable maternal death. One mother dies every seven minutes due to postpartum hemorrhage globally. Severe PPH cases can lead to debilitating outcomes for women, including emergency hysterectomy and death. Despite medical advancements, postpartum hemorrhage is responsible for around 11 per cent of all US maternal deaths and this has remained stagnant over the last forty years. Globally, postpartum hemorrhage is the primary cause of nearly one quarter of all maternal deaths.
Tara Croft, Baymatob CEO, discusses the future vision for their technology to address health outcomes across maternal and fetal healthcare.
“At Baymatob, every day we work towards ensuring mothers and their babies are provided with better experience, better care, and improved health outcomes. We aim to become the new standard of care in maternal and fetal medicine, dramatically reducing the unacceptably high rate of preventable complications and deaths during pregnancy and labor.
Being female-founded and female-led, we bring a well-informed lens to the problems we are solving, alongside our deep expertise in the space. We are delighted to have Global Bio Fund with us on this journey, as they offer clear expertise and alignment with our mission to transform health outcomes for mothers and their babies”
Dr Ipshita Mandal-Johnson, Global Bio Fund Founding Partner & CEO, said this was a great example of the kind of company their fund wants to invest in that has a strong gender lens, disruptive platform technology and is geared to impact women’s health in multiple markets.
“Baymatob has a highly driven and competent team of women entrepreneurs who are gearing to revolutionize how mothers are monitored in labor. As a product Oli is being built with a data and AI driven approach with strong clinical evidence, and especially meeting a huge need to address maternal health outcomes in the US”
“Global Bio Fund is currently raising funds to invest in more companies that are gender smart and have a data driven approach to healthcare innovation”
