EmbryoCare is an insurance business focused on providing parents with both financial and emotional aid should their baby be born with a condition such as cerebral palsy, down’s syndrome or a congenital heart defect.
EmbryoCare completed its SyndicateRoom round in November 2016 after raising £1.4m.
EmbryoCare launched its initial products and website at the beginning of 2016, as a result of a personal experience of Founder and CEO Jamie Moyes. For him, the idea was simple: an insurance product that can be taken out by parents-to-be to potentially increase the financial stability of the family should there be a serious issue at birth or in the early life of their child.
EmbryoCare’s Future Family insurance aims to alleviate the financial (and emotional) stress families go through caring for children with serious medical conditions. The company offers a range of insurance products to cover 14 conditions, including cerebral palsy, congenital heart defects and down’s syndrome. Embryocare offers a unique financial and emotional support service, and plans to expand to provide product offerings to a wider network of global locations.
The EmbryoCare team have taken more than two years to develop and bring their products to market. During this time, they have amassed significant amounts of highly specific data regarding relevant medical expertise, infrastructure and distribution.
The company has sought to strengthen its offering through a partnership with RedArc, which provides ongoing practical advice and emotional support to parents of children with serious medical conditions. RedArc’s care and advisory service is included in all of EmbryoCare products.
The company is continuing to develop its product offering, intending to provide a range of insurance products for both individual consumers and corporations wishing to include such products in their employee benefit schemes.
The aim of EmbryoCare’s 2016 SyndicateRoom funding round was to complete product development and bring its new suite of products to market.
The lead investor
Alex Preston led EmbryoCare’s 2016 SyndicateRoom round with a personal commitment of £280,000. As well as an experienced investor, Alex is Co-founder of Verivox GmbH, Germany’s leading independent comparison consumer portal for energy.
Alex offers his expertise and capital as an angel investor, taking a significant number of minority stakes in private companies where he sees high growth potential and where he can apply his experience when necessary.
EmbryoCare serves a very real problem area for mothers-to-be. The team’s entrepreneurial spirit is clear, using their skillsets at every opportunity to create value. I liked the ‘green-field’ opportunity that the company proposed with a product that every mother in the world could buy in an established marketplace that was the insurance industry.
What investors have to say
‘The EmbryoCare idea is one that makes you wonder why it has not already been done. This has been an issue for as long as insurance has been about. It’s great to see genuine innovation in this field. A lot of people stand to benefit from the work EmbryoCare are doing.’
Anthony W, investor
‘EmbryoCare are providing insurance against a tragedy which is hard to describe to those who have not been through it. Whilst it is mainly financial recompense, there is a strong element of emotional support that is embedded within the product, which comes at a time when personal tragedy is combining with painful reality. Surely every large-scale employer will want to offer this product.’
Ben W, investor