Numan launched aiming to promote accessible medical remedies for erectile dysfunction but has since expanded into other areas to building a brand around pharmaceuticals on subscription.
It has now closed a £10 million Series A funding round led by Novator, along with Anthemis Exponential, Vostok New Ventures and Colle Capital.
“We are building a new kind of healthcare company that gives men simple and accessible solutions for their health and wellbeing problems… The COVID crisis is motivating men to take better care of themselves,” said Sokratis Papafloratos, Numan’s founder and CEO in a statement.
As part of the funding, Birgir Már Ragnarsson of Novator joins Numan’s board. “We were impressed with Numan’s capital-efficient execution so far and are excited about the future direction of the company. Health is one of the largest economic transformation opportunities still addressable at a global scale, and we’re delighted to be part of Numan’s journey.”
Numan intends to use the funds to continue investing in technology, expand operations and grow the team, with Sam Shah, former CEO of NHSX recently joining as chief medical strategy officer.
Most research shows that most men don’t go to the doctor when something is wrong, and yet they are more likely than women to get cancer, heart disease and become overweight, and are more prone to smoking, drinking and abusing drugs. Hence why startups like Numan are starting to show traction, as men can take more preventative measures.