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Men's Health Start-Up Numan Lands $40 Million Series B

September 24, 2021 BeautyMatter
September 24, 2021
Numan

London-based men's health start-up Numan lands a $40 million Series B, the largest raise in the men's health sector in Europe to date.

WHO: Founded in 2018, Numan offers a digital subscription service for healthcare treatments for users to treat men's health issues, such as erectile dysfunction, premature ejaculation, hair loss, gut and lung health, and nutritional deficiencies. Numan aims to tackle the embarrassment and stigma that men can feel about talking about their health and seeking help for conditions that may be seen as taboo.

WHY: Numan will use the funds to grow its international presence and expand into new therapeutic areas.

IN THEIR OWN WORDS: In a statement, Sokratis Papafloratos, CEO and founder of Numan, said: "This funding is a significant milestone on our journey to help millions of men be healthier. White Star Capital is one of the best investors in our space, and I'm delighted to be working together along with a wider team of brilliant investors."

Eric Martineau-Fortin, founder and Managing Partner, White Star Capital, said, "Men's health has been under-served by traditional services and needs innovative businesses to break down barriers and ensure taboos don't prevent men from being happy and healthy. Numan's digital offering helps men take charge of their health discreetly and decisively. We're incredibly excited by Sokratis and his team, and look forward to working with them as they grow."

DETAILS:

  • White Star Capital led the $40 million Series B funding round alongside existing investors Novator, VNV Global, Anthemis, and Colle Capital, and new investor Hanwha Group Dream Fund.
  • With this round the company has raised a total of $53 million.
  • In March 2021, Numan acquired Sweden's Vi-Health to continue its expansion and become a full-stack digital health provider.
  • In October 2020, Numan closed a £10 million Series A funding round led by Novator with participation by Anthemis Exponential, Vostok New Ventures, and Colle Capital.
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