 The startups addressing women’s long-ignored needs

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

% of global healthcare capital invested in femtech

increase in global VC investment in femtech from 2012-2020

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.

Femtech

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

Daye

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

Grace Health

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.

Vira Health

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

Sifted.eu

Dealroom.co

Trends to watch in femtech in 2022 and beyond

These are Europe’s top startups tackling menopause

Femtech startups to watch in Europe, according to top VCs

Femtech in France

Femtech poised for growth beyond fertility

Femtech is now focusing on menopause and endometriosis

Menopause tech and the startups innovating the space

FemTech Industry Landscape 2021

→ 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

Clue

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

Elvie

→ Is developing a non-hormonal treatment for menopause symptoms

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

KaNDy Therapeutics

Loopeeze Ltd (trading as FabLittleBag)

breathe ilo GmbH

LactApp

Your KAYA

Lattice Medical

Momunity

Freda Health

Lola&Lykke

Body Collective (formerly Baby2Body)

Fertility Circle

DAME

MPowder

Juno Bio

Nourish Parents Limited

Imvitro

Béa Fertility

Hashiona

Tilly

Syrona Health

Velmio

Artemis

Moonai

Tuune

Unfabled

→ Startups that initially focused on a particular niche are now broadening their focus, such as fertility apps integrating services for menopause.

→ Eventually, the aim is to capture the whole life cycle of women’s health, thus addressing a larger overall market and providing a better user experience within a single app or platform.

→ One underserved subsector of femtech is providing specialised care for women struggling with specific conditions.

→ This could include endometriosis or hormonal imbalances as well as conditions more prevalent in women than in men, like autoimmune disorders or mental health issues.

→ Femtech started out by following a DTC approach, but in the longer term startups may find it easier to extend their reach by partnering with healthcare incumbents.

→ With more women in the labour force than ever, startups may also seek out companies offering their services as employee benefits.

→ Raising awareness is critical to femtech’s success, especially since startups are pitching their ideas to investors who are — more often than not — men.

→ Some startups are now making this part of their product, for example by offering “partner modes” within apps and providing free educational content.