Annaida Technologies Raises CHF 1 Million to Validate Their Non-Invasive Embryo Screening Technology
09.04.2020
Annaida Technologies, a Swiss start-up developing a non-invasive embryo screening technology, today closed an oversubscribed seed financing round led by HEMEX. Zürcher Kantonalbank, Fongit Seed Invest (FSI), Business Angels Switzerland (BAS), Privilège Ventures, Venture Kick and an angel investor also joined the round. We interviewed CEO and co-founder Gaurasundar Marc Conley, PhD.
 Gaurasundar Conley, CEO and Marco Grisi, CTO
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What are Annaida Technologies mission and core innovation?
Annaida has developed a device to enable non-invasive screening of embryos for in vitro fertilization, thanks to magnetic resonance technology. Like an MRI scanner, shrunk to suit embryos about one-fifth of a millimeter in size the device will allow IVF clinics to perform their analysis on-site and within an hour. Our mission is to help struggling couples to achieve their dream of starting a family.
How will the CHF 1 million investment led by HEMEX help achieve your vision?
The investment will allow us to validate our device as safe for use and to get it ready for the next step, clinical trials. Already since last year, the HEMEX team has been helping us in many ways, providing connections to investors, experts and even future customers.
You won Venture Kick in 2019. How did Venture Kick help you lay the foundation for your growth and today's achievement?
Venture Kick was a turning point for us, it really pushed us to change our mentality from lab scientists to entrepreneurs and taught us to expand our focus to include the customer from the very beginning. The Kicker's camp was especially useful in making this change, kicking us towards growth.
What is your advice for the potential entrepreneurs launching companies in Switzerland today?
My main advice is to persevere. If you really believe in your idea keep pushing and don't give up at the first sign of trouble. This all sounded trivial when others told me, but turns out it's true. As a team, we've had our share of bad news and harsh criticism, but we always managed to find the positive side and turn problems into new opportunities.
Annaida has developed a device to enable non-invasive screening of embryos for in vitro fertilization, thanks to magnetic resonance technology. Like an MRI scanner, shrunk to suit embryos about one-fifth of a millimeter in size the device will allow IVF clinics to perform their analysis on-site and within an hour. Our mission is to help struggling couples to achieve their dream of starting a family.
How will the CHF 1 million investment led by HEMEX help achieve your vision?
The investment will allow us to validate our device as safe for use and to get it ready for the next step, clinical trials. Already since last year, the HEMEX team has been helping us in many ways, providing connections to investors, experts and even future customers.
You won Venture Kick in 2019. How did Venture Kick help you lay the foundation for your growth and today's achievement?
Venture Kick was a turning point for us, it really pushed us to change our mentality from lab scientists to entrepreneurs and taught us to expand our focus to include the customer from the very beginning. The Kicker's camp was especially useful in making this change, kicking us towards growth.
What is your advice for the potential entrepreneurs launching companies in Switzerland today?
My main advice is to persevere. If you really believe in your idea keep pushing and don't give up at the first sign of trouble. This all sounded trivial when others told me, but turns out it's true. As a team, we've had our share of bad news and harsh criticism, but we always managed to find the positive side and turn problems into new opportunities.