Artificial intelligence-powered women’s health assistant, Ovum, this week raised $1.7 million in a pre-seed round led by Giant Leap, seeking to lift the standard of women’s health in Australia.
Founded by Dr Ariella Heffernan-Mark, a medical doctor and reproductive biology specialist, Ovum is developing a platform that integrates medical records, biometric data and menstrual tracking.
The Melbourne-based startup collects blood test results, referrals, letters and imaging reports and answers questions around different health conditions and suggests when it’s time to see a specialist.
Giant Leap partner Rachel Yang said, “We invested in Ovum because addressing women’s health is not just a rapidly growing market — projected to exceed $121 billion by 2033 — but also a vital opportunity to tackle systemic gaps in women’s healthcare.
“Through our extensive research into the sector, we’ve seen the immense potential for innovation to transform access, outcomes, and equity in healthcare,” said Yang.
According to the company, one in two Australian women suffer from a chronic health condition, while there are around 1 million women suffering from endometriosis across the country. Yet given the current healthcare framework, it can take 7 to 12 years to reach a diagnosis.
“Ovum is the solution to this problem,” Dr Ariella Heffernan-Mark said.
“This is about using new technologies such as AI to level the playing field. Women endure complex and nuanced health conditions and they deserve a solution that directly addresses them.”
Yang added, “Ovum’s inclusive AI directly tackles the gender health data gap, addressing critical issues like under-diagnosis and delayed treatments that can cost women up to 8 days in productivity per year and significantly impact their overall quality of life.”
Wollemi Capital has also supported Heffernan-Marks in getting the Ovum platform off the ground and contributed to this pre-seed round.
“We focus on supporting founders who are driving innovation to create lasting change,” Wollemi CEO Victoria Denholm said.
“Ariella is committed to disrupting a billion-dollar industry and improving health outcomes for Australian women and girls. We are proud to support her efforts.”
Also participating in the raise were global VC firm Antler, the Alice Anderson Fund, Nakatomi Venture Studio, Dr Nick Engerer, and Tim and Casey Cosh.
Having completed a successful beta test, the company plans to launch the platform this year.
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