Friday, October 30, 2020

This post was originally published on TechCrunch

Home Tech Men’s health subscription startup Numan closes £10M Series A funding round

Men’s health subscription startup Numan closes £10M Series A funding round


This post was originally published on TechCrunch

Launched almost 18 months ago, Numan joined the growing list of sites aiming at men’s health, such as Roman and Hims, for example.

Numan launched aiming to promote accessible medical remedies for Erectile Dysfunction but has since expanded into other areas to building a brand around pharmaceuticals on subscription.

It has now closed a £10M Series A funding round led by Novator, along with Anthemis Exponential, Vostok New Ventures, and Colle Capital.
“We are building a new kind of healthcare company that gives men simple and accessible solutions for their health and wellbeing problems… The COVID crisis is motivating men to take better care of themselves,” said Sokratis Papafloratos, Numan’s Founder and CEO in a statement.

As part of the funding, Birgir Már Ragnarsson of Novator joins Numan’s board. “We were impressed with Numan’s capital-efficient execution so far and are excited about the future direction of the company. Health is one of the largest economic transformation opportunities still addressable at a global scale, and we’re delighted to be part of Numan’s journey.” 
Numan intends to use the funds to continue investing in technology, expand operations, and grow the team, with Sam Shah, ex CEO of NHSX recently joining as Chief Medical Strategy Officer. 

Most research shows that most men don’t go to the doctor when something is wrong, and yet they are more likely than women to get cancer, heart disease and become overweight, and are more prone to smoking, drinking, and abusing drugs. Hence why startups like Numan are starting to show traction, as men can take more preventative measures.



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