In a world where male-dominated VC firms often echo the discomfort of a teenage boy in a reproductive health class, the rise of FemTech was anything but meteoric. In 2021, according to PitchBook, global venture funding into FemTech surpassed $2B for the first time. And although market conditions and the VC funding crunch meant that figure dipped somewhat in 2022-23, the global FemTech market could be worth $20B by 2030.
Techstars is one of the most active investors into the category globally. We currently have 55 investments associated with FemTech, including leaders like Ovia Health, PairTree, Aunt Flow and Diem.
Another startup we’re watching closely is fast-growing women’s hormone health company, hormona.
The best startups are often founded by people with deep personal experience of the problem they’re solving – and Hormona’s co-founder and CEO Karolina Löfqvist is no exception.
Karolina was going through a challenging period. Struggling with a range of debilitating symptoms, she’d lost her sense of wellbeing and turned to multiple doctors for answers.
But none of them seemed to make the connection between her emotional state and the physical symptoms she was experiencing. (She was even advised to take antidepressants and get a less stressful job by one practitioner.)
Determined to find answers, she took matters into her own hands. She did extensive research, consulted overseas specialists, and eventually received a diagnosis of an underactive thyroid and hormonal imbalances. Only then was she finally able to start addressing and improving her health.
Through her own journey and conversations with other women, Karolina came to understand the impact that women’s ever-changing bodies and hormones can have on their physical and mental wellbeing – and that there was precious little out there to help.
And so, Hormona – which is aiming to support the estimated 80% of women who suffer from hormone-related issues such as hormone imbalance, irregular periods, PCOS, and menopause – was born.
The Hormona app helps women to take control of their health through daily measuring, tracking and insights to optimize their well-being, enabling users to hack their hormones and confidently manage life.
Since the company launched, its app has had thousands of downloads in over 170 countries, and later this year Karolina and the team are launching their revolutionary home-test to become the first end-to-end solution for hormonal health.
FemTech is not just a sector but a revolution, rewriting healthcare for half the planet. It's about using technology to meet the unique health needs of women, bringing long-overdue attention and solutions to their challenges. This shift is significant, marking a new era in healthcare where women's health is finally getting the attention it deserves.
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