Lawyers from global law firm Osborne Clarke’s Bristol office have helped complete another high-profile technology deal – this time advising finance group BGF on its lead investment in a £58m funding round in femtech pioneer Elvie.
London-based Elvie is a revolutionary – and fast-growing – global health and lifestyle brand developing iconic products for women. 
Founded in 2013 by CEO Tania Boler, the firm brings together a team of world-class engineers, designers and business minds to develop extraordinary products that improve women’s lives – revolutionising categories which had been overlooked for many years, including breast pumps and pelvic floor health.
The Osborne Clarke team was led by associate director James Taylor with support from senior associate Elinor Owen, associate Hannah Stevens, trainee solicitor Liz Foley and BGF client relationship partner Simon Jones.
The team has had a busy few months, including helping secure a £11m equity round for THIS, a plant-based meat alternative brand, on behalf of BGF and CPT Capital, the £4m growth capital investment from Mobeus for Vet’s Klinic, and a £12m funding for Flock, a start-up aiming to revolutionise the use of real-time data in insurance.
Joining BGF’s London office in the Elvie investment were funds and accounts managed by BlackRock Private Equity Partners and a consortium including Hiro Capital and Westerly Winds, plus existing investors Octopus Ventures and IPGL.
The funds will be used to invest in three key areas: innovation and the development of new best-in-class products and services for women, continued expansion into new and existing markets, and strengthening Elvie’s operations and infrastructure ready for the next phase of high-speed growth.
The femtech industry is expected to become a $50bn market by 2025, according to market research firm Frost and Sullivan.
Elvie’s products include Trainer, an award-winning app-connected Kegel trainer that helps women strengthen their pelvic floor and Elvie Pump, the world’s first silent wearable breast pump, pictured. In October 2020, the company brought to market two new breastfeeding products, Elvie Catch and Elvie Curve.
Since the launch of Elvie Pump on the catwalk of London Fashion Week in September 2018, Elvie has experienced hyper-growth.
The business grew sixfold in 2019, almost doubled last year – despite widespread Covid disruption – and is on track to double again this year.
The company launched 10 new markets across EU and Asia in the last 12 months and continues to see rapid sales growth in the US, the world’s biggest breast pump market.
Osborne Clarke’s international venture and growth capital practice is widely recognised as a market leader. The growth capital team is ranked tier one by the Legal 500 directory and has experts across London, the Thames Valley and Bristol.
