Dadi, a Brooklyn, New York-based male fertility testing and sperm storage company, raised $5m in funding.
The round was led by TCG, an affiliate of The Chernin Group, with participation from previous investors firstminute Capital and Third Kind Ventures and new angel investors Nat Turner, co-founder and CEO of Flatiron Health, and Alex Chung, co-founder and CEO of GIPHY. In conjunction with the funding, TCG Partner Marco DeMeireles will also join Dadi’s board.
The company intends to use the funds to:
– expand its customer service capabilities to provide more fertility education and greater support during the entire family planning journey, and
– develop new fertility technology and services.
Co-founded by Tom Smith, Mackey Saturday and Gordon von Steiner, Dadi educates consumers about male reproductive health through its family planning solution. Its patented at-home fertility test and sperm banking kit provides men with a low-cost, long-term option to take control of their futures.
Since launching, Dadi has supported thousands of customers from different ages and life stages, across all continental states.
The fertility test and sperm storage kit is available online at dadikit.com for $99, with a storage subscription fee of $9.99/month or $99.99/year.
In addition to this financing, the company announced the formation of its Science and Technology Advisory Board, comprised of experts in the industry — including:
– Dr. Michael Eisenberg, Associate Professor of Urology at the Stanford University Medical Center;
– Dr. Jacques Cohen, Laboratory Director at ART Institute of Washington at Walter Reed National Military Medical Center, who joins Dadi as Clinical Laboratory Advisor; and
– Dr. Grace Centola, PhD, Science Director at Dadi.