Men's digital health startup Numan has raised a £10 million ($13 million) Series A funding round.

The funding round was led by Novator, along with Anthemis Exponential, Vostok New Ventures, and Colle Capital.

"We want to become a holistic health partner for men," Sokratis Papafloratos CEO and founder of Numan, told Business Insider in an interview.

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Men's health startup Numan has raised a £10 million ($13 million) Series A to grow its product offering.

Numan, founded in February 2019, provides health services for men including treatments for hair loss, smoking cessation, and erectile dysfunction. The funding round was led by Novator, along with Anthemis Exponential, Vostok New Ventures, and Colle Capital.

"We want to become a holistic health partner for men," Sokratis Papafloratos CEO and founder of Numan, told Business Insider in an interview. "Nationally funded healthcare systems are struggling to cope with demand, so the private health market is supporting and tech can transform this experience."

Papafloratos is a serial entrepreneur and investor having founded TrustedPlaces, one of the UK's earliest local reviews sites which was acquired by Yell Group and UK travel company Secret Escapes. He said that many men's health issues, like erectile dysfunction and hair loss, can be seen as non-major in medical terms but can have a significant impact on self-esteem, confidence, and mental health.

Numan's tech platform seeks to change men's tendency to avoid the doctor with discreet kits sent directly to the home.

"Healthcare is a competitive space but there is so much demand and a lot of opportunity to grow," Papafloratos added. "Covid has been a loud alarm bell and our hope is that people will be more proactive about their health now and we want to be one of the companies that can support this."

Papafloratos claims the company's revenue for September was 10 times that of the same month the previous year with the new funds going towards expanding the startup's product offering and bringing in new senior staff.

The funding process was conducted over video calls and took a few months to complete, Papafloratos said.

Check out Numan's redacted pitch deck below:

Source: Business Insider

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