Femtech

The startups addressing women’s long-ignored needs

Last updated: 27 Jan 2022

Market 101

Six years ago, the term femtech didn’t exist — today it’s a small but rapidly growing healthcare segment. The market opportunity was staring everyone in the face: only 4% of global healthcare R&D funding is allocated to women’s health. That’s despite women outspending men by almost a third on healthcare — and most of them being the primary decision makers for their family.

While femtech first movers brought much-needed visibility to the sector, plenty of others are now joining them, and broadening the sector's focus beyond period and fertility tracking apps. Today it’s about addressing any health issues faced by women at any point in their lives, including more taboo topics like menopause or endometriosis. Turning all of this into a business opportunity is not only a matter of developing the right tech, but raising further awareness among investors and consumers. The wellbeing of half of the world’s population depends on it.

Early stage market map

Early stage market map

Key facts

€19bn

femtech market size in 2020 (set to increase to €53bn by 2027)1

1.4

% of global healthcare capital invested in femtech2

10x

increase in global VC investment in femtech from 2012-20203

Startups tracked by Sifted

Sifted take

Femtech has moved on from the early days — when the focus was periods and fertility — and has seen a steady increase in funding overall. Despite the recent jump in investor interest, not all of the sector’s players have benefited equally. It remains to be seen whether VCs will broaden their focus beyond content and community platforms and include more deeptech solutions, especially around underserved areas like sexual and menstrual health.

Rising stars

Europe's leading pre-Series A startups (all published data verified) We identify companies as ‘rising stars’ using a number of criteria including founder backgrounds, investor track record, funding and valuation, and growth signals

Daye

Menstrual health

Total funding

€5m

London, United Kingdom
2020

Develops a tampon infused with CBD, or cannabidiol, a compound found in marijuana and hemp, to relieve period cramps.

Round

Seed


Date

2020

Size

€5m

Grace Health

Online chats & consultations

Total funding

€5m

Stockholm, Sweden
2019

Backed by UK startup Babylon Health, this startup developed a digital health assistant for women in developing countries that has 800k users currently.

Round

Seed


Date

2021

Size

€2.6m

Vira Health

Menopause

Total funding

€1.5m

London, United Kingdom
2019

Backed by LocalGlobe, Vira Health developed an app to guide women through menopause with personalised support. The cofounders combine medical and business expertise, with Rebecca Love holding a PhD in medical sciences and Andrea Berchowitz having previously worked at McKinsey as associate partner.

Round

Seed


Date

2021

Size

€1.5m

Early stage startups to watch

Artemis

Debrecen, Hungary
2020
Pre-seed

180k

150k

420k

Body Collective (formerly Baby2Body)

London, United Kingdom
2018
Seed

3m

500k

25m

breathe ilo GmbH

Vienna, Austria
2014

-

5.5m

2.5m

10m

Béa Fertility

London, United Kingdom
2020
Pre-seed

910k

910k

2.3m

DAME

London, United Kingdom
2019
Seed

2m

1m

-

Fertility Circle

London, United Kingdom
2019
Pre-seed

730k

730k

2.4m

Freda Health

London, United Kingdom
2018
Angel

165k

165k

2m

Grace Health

Stockholm, Sweden
2019
Seed

5m

2.6m

-

Hashiona

London, United Kingdom
2020
Pre-seed

450k

450k

2.3m

Imvitro

Paris, France
2019
Seed

1.4m

1.3m

5m

Juno Bio

London / San Francisco Bay Area , United Kingdom
2019
Pre-seed

1.5m

1m

-

LactApp

Barcelona, Spain
2016
Seed

1m

440k

5m

Lattice Medical

Loos, France
2017
Grant

5m

1.3m

-

Lola&Lykke

Helsinki, Finland
2018
Pre-seed

750k

660k

4m

Loopeeze Ltd (trading as FabLittleBag)

London, United Kingdom
2014
Seed

579k

119k

2.4m

Momunity

Berlin, Germany
2017
Seed

450k

450k

6m

Moonai

Barcelona, Spain
2021
Pre-seed

100k

100k

666k

MPowder

London, United Kingdom
2019
Pre-seed

600k

600k

3m

Nourish Parents Limited

London, United Kingdom
2019
Pre-seed

180k

180k

1m

Syrona Health

London, United Kingdom
2020
Pre-seed

1.1m

437k

-

Tilly

Stockholm, Sweden
2020
Pre-seed

400k

300k

2m

Tuune

London, United Kingdom
2021
Seed

4.2m

4.1m

-

Unfabled

London, United Kingdom
2021
Pre-seed

317k

317k

-

Velmio

Tallinn, Estonia
2020
Angel

70k

70k

500k

Vira Health

London, United Kingdom
2019
Series A

1.5m

12m

-

Your KAYA

Warsaw, Poland
2017
Seed

2.3m

1.1m

9.6m

Europe’s success stories

Who early stage startups are up against

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Has developed a period tracking app with 12m users, as well as a digital contraceptive that gained FDA [US regulator] approval this year

→ Cofounder and CEO Ida Tin first coined the term femtech at an industry event in 2016

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Has developed a connected breast pump and a smart pelvic floor exerciser, for which it has partnered with the UK’s NHS

KaNDy Therapeutics

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Is developing a non-hormonal treatment for menopause symptoms

→ Acquired by German pharma company Bayer in 2020 for up to €700m

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

Sources

Data sources

Sifted.eu Proprietary data

Dealroom.co Data

Research reports

1, 2, 3 FemTech Industry Landscape 2021 2021 | FemTech Analytics

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