Materna Medical Announces Ellora™ and Additional Close on $20M Series B2

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Materna Medical, Inc., a leading innovator in women's pelvic health solutions, has announced the completion of a recent close within an ongoing $20 million Series B2 financing round. The round welcomed new funds GLIN Impact Capital, Wealthing VC Club, and Citrine Angels, and was led by InnovaHealth Partners and other key existing investors Wavemaker Three-Sixty Health, Kimera Limited, Women's Venture Capital Fund, and Golden Seeds.

"As we celebrate the addition of these new funds to our investment team, we are also excited to announce the new commercial name for our second product, Ellora™ (formerly Materna Prep), aiming to transform the standard of care in labor and delivery," commented Tracy MacNeal, Chief Executive Officer for Materna Medical "Over 20 of the top hospitals in the US have been incredible partners in the EASE trial for Ellora™, which will be the basis of our FDA De Novo submission this summer."

For more information on Materna Medical, visit MaternaMedical.com.

About Materna Medical

Materna Medical is a novel OBGYN platform company defining a $25B market with core technologies addressing unmet needs in women's pelvic health. With headquarters in Mountain View, California, Materna pulls from the top minds in MedTech to truly transform the standard of care in OBGYN. With a diverse team of engineers, scientists, researchers, and commercial leaders, Materna Medical’s mission is to empower women to protect their pelvic health.

Our first product, Milli™, is vaginal dilator to support patients suffering from vaginismus and related painful sex. In 2019, the Milli device launched as a wellness trainer and, in 2023, received FDA clearance to sell over the counter, enabling streamlined access to people suffering from vaginismus. Milli outcomes have been studied in a post-market prospective virtual study named POMPOM.

Materna’s second product, Ellora™, is an investigational device used during labor and is intended to reduce pelvic floor muscle injury during vaginal delivery. This product is being studied in the EASE trial, a large, randomized controlled trial in 20 top US hospitals. Materna aims to transform the standard of care in labor and delivery by protecting pelvic floor health for moms.