FemTech Industry 2021 / Q2
Landscape Overview

www.femtech.health© 2021

Table of Contents
Introduction

3

Leading Investors in the FemTech Industry

56

Approach Used

5

FemTech Publicly Traded Companies

68

FemTech Industry Overview

10

Top FemTech Inﬂuencers

83

Industry Landscape11

Leading Laboratories and R&D Centers94

AI for FemTech

22

Top FemTech Events and Conferences

101

Investments Overview

23

FemTech Market Trends

107

Longevity in FemTech

32

Key Points & Conclusion

118

Leading Companies in the FemTech Industry

41

Disclaimer

125

FemTechAnalytics
FemTechAnalytics2

Introduction
1

FemTech refers to software, products and services,and diagnostics that use technology to improve
women’s health.

2

About 50% of the FemTech market belong to
Pregnancy & Nursing and Reproductive Healthsectors, however, it is not only limited to thesecategories.

3

Other important FemTech sectors include Longevity,
Healthcare, Diagnostics, Personal Care & Wellbeing,
Beauty for FemTech, and PharmTech.

4

Problems are tackled via platforms (e.g. apps andtelehealth), deep tech (e.g. AI, ML and big data), anddevices (e.g. wearables, sensors, and remote patientmonitoring.)

5

The FemTech industry can be thought of as acontinuum process: pre-care → during care →post-care.

Why is FemTech becoming more important?
Women play a pivotal role in the creation of families; hence,
they are key to sustaining healthy families. The fourth wave of
feminism we are now witnessing is making this concept evenmore prevalent and trendy.
Unlike before, women are increasingly pushing for equality inall aspects of life, including the workplace and healthcare.
Since more and more of them are dedicating themselves totheir careers, women decide to have children later in life;
hence, they require more medical attention.
More and more women are thinking of themselves as
individuals with their own necessities; hence, they want to takecare of their health in every sphere, including general
healthcare, sexual healthcare, emotional wellbeing, pregnancy,
periods, and a lot more.
Meeting all these demands requires improvement of
women’s healthcare.

Source: Media Review
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3

Introduction
Being relatively ‘young’, the FemTech Industry remains largely underfunded; however, it is predicted to grow exponentially in the
coming years. The FemTech industry (and more speciﬁcally, women’s health and technology) is projected to double in size and include
more areas. However, for that to happen, it will have to overcome various challenges.

Lack of Investment
The FemTech Industry
accounts for only 1.4% ofcapital invested inhealthcare.

Insuﬃcient R&D Funding
Only 4% of healthcare R&D
funding is targeted at
women’s health.

Public Support
It is hard to get public
support in subjects people
are less likely to talk about.

Pace of Education
Not enough is being done to
debunk myths and breaktaboos surrounding
women-related issues.

Economic Situation
Economic hardships hinderaccess to high-tech products(e.g. wearable devices) for
women in rural areas of theworld.

Taxation Risk
Fear of an unfair ‘pink tax’applied to products
marketed to women.

Historic Effect
Historically, fewer venture
capital is invested inwomen-related startups.

Underestimation of Issues
When it comes to healthissues, women are largely
not listened to or believed;
hence, lower eﬃciency.

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4

Approach of the Report
Database

Applied Research & Analytics Methods

Identiﬁcation of relevant:Companies,
Investors,
Inﬂuencers,
Research & Development Centers,that operate, interact with or are somehow involved in the FemTech
Industry.

Descriptive
Analysis

Qualitative Data
Collection

Mixed Data
Research

Exploratory Data
Analysis

Comparative
Analysis

Data Filtering

Data Source1
Publicly Available Sources(Websites)

Industry-Specialised
Databases

Media Overview (Articles,
Press Releases)

Industry Reports
and Reviews

Containing a comprehensive overview of the FemTech Industry, the report relies on various research methods and analytics techniques. Since there
is no clear deﬁnition of the FemTech market, our assessment is based on certain assumptions. Hence, it is assumed that the FemTech market
includes Longevity, Fertility & Period, Pregnancy & Nursing, Diagnostics & PharmTech, General Healthcare, Sexual Healthcare & Wellbeing, Beauty for
FemTech, and others. FemTech Analytics is not responsible for the quality of the secondary data presented herein; however, we do our best to
minimize possible risks by cross-checking data and using different analytics techniques. Please note that we did not deliberately exclude certain
companies from our analysis due to the data-ﬁltering method used or diﬃculties encountered. In fact, the main reason for their non-inclusion wasincomplete or missing information in the available sources.
1 - grouped by, but not limited to
FemTechAnalytics
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5

FemTech Market Framework
By Application

By Product Type

Pregnancy & Nursing

Reproductive Health

Mobile Apps

Connected Devices

Longevity

Healthcare

Services

FemCare Products

Beauty for FemTech

Personal Care & Wellbeing

Pharm Products

SoftwareBy Stage

By Customer

Pre CareR&D and Testing

Individuals

Fertility Clinics

During Care

Post Care

Hospital and Research Institutes

Diagnostic Centers

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FemTech Framework by Application
By Application

FemTechAnalytics
FemTechAnalytics

Pregnancy

Fertility

Longevity

General Healthcare

Sexual Healthcare

Women’s Cancers Treatment

Beauty for FemTech

PeriodDiagnostics

Nursing

Women’s Education

Mental Health

Fitness & Healthy Lifestyle

PharmTech

7

Global FemTech Ecosystem
Landscape Overview 2021 / Q2

FemTechAnalytics
FemTechAnalytics

Companies – 1550
Investors – 1000
R&D Centers and Labs – 30

8

FemTech Industry 2021 Major Subsectors Composition

FemTechAnalytics
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Longevity

Pregnancy

Fertility

General Healthcare

Beauty for FemTech

Sexual Healthcare

9FemTech
Industry Overview
2021 / Q2

www.femtech.health© 2021

FemTech Industry General Overview
Being a relatively new industry, FemTech includes a broad spectrum of digital technologies dedicated to the improvement of women’s
health and wellbeing. By developing technological solutions for pregnancy and nursing care, women's sexual wellness, reproductive
system healthcare, menopause solutions, female oncology, and general healthcare, FemTech seeks to fulﬁl unmet women’s needs. The
FemTech market includes a wide range of wearable and clinical devices, diagnostic appliances, products, platforms, software, apps, orservices.
FemTech has only been around for a couple of years; however, the issues it is facing have been unresolved for decades. Being a distinct
form of healthcare, female healthcare has gone through several phases of development:

FDA authorized drug trials
for women, previously
restricted for females ofchildbearing age.

2010

2011

2012

The ﬁrst smartphone apps
for tracking menstruationand fertility became
available.

2013

2014

2015

New solutions for
pregnancy, breastfeeding
and menopause weredeveloped.

2016

2017

2018

Medical startups
dedicated to managing
serious conditions, suchas cancer, emerged.

2019

2020

Source: Media overview
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FemTech Milestones
Only a few years ago, global investmentsin the FemTech sector barely totalled$100M per year. The feminist movement,
rapid digitalization and personalized
healthcare have given a boost to its
development.

2013

2015

Ida Tin, a co-founder and CEO of a Danish
company that developed Clue, amenstruation-tracking app, coined the“FemTech” term.

The FemTech movement began to quickly
expand, attracting startups, VCs, press,
activists, and non-proﬁt organizations.
About $400M was invested in FemTech
companies.

2016

2019

In 2018, the size of the FemTech market
exceeded $16.5B, while in 2019 it grew to$18.75B. Thanks to that, investors began
to take an interest in its fertility-related
sectors, such as embryo scanning, egg
storage, and reproduction.

The FemTech market is represented by
200 startups, a signiﬁcant number ofwhich are run by women. The key focus
areas include reproductive health,pregnancy & infant care, sexual health andhygiene.

2020

2027

By 2027 the global FemTech market isprojected to be 3.2 times larger as it wasin 2019, and it is expected to exceed $60B
in less than 10 years' time. The CAGR is
estimated at 15.6% over 2020-2027.

As it evolved, FemTech has ceased to be a merely reproductive concept and become one that encompasses a wide range of health issues
disproportionately affecting women (e.g. Alzheimer’s, immunodeﬁciencies or pain management solutions).
Source: Media overview
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The FemTech Industry
Focuses on all technologies, services,and research related to extending
women’s healthy lifespan. Longevity
ﬁrms are engaged in research, treatment
and diagnosis of age-related diseases.
Solutions for general female healthcare,diseases affecting women more thanmen, breast cancer. Modern solutions
includetelemedicine,
apps,
and
wearable devices.
Aims to maintain female reproductive
systems health at all life stages. Thisaggregated subsector focuses on
sexual healthcare, period, fertility, andcontraception.

Longevity

Unlike men, women tend to suffer morefrom mental disorders; hence a rise in
the number of companies dedicated toensuring emotional, psychological, andsocial wellbeing of women.

Personal Care &Wellbeing

Healthcare

Pregnancy &Nursing

In response to higher demand for technicalsolutions, more and more sectors are
emerging, including ones facilitating
pregnancy planning, postpartum care,motherhood and baby care.

PharmTech

Until recently, the vast majority of drugs
were tested only on men or male animals.
To develop drugs suitable for females,
PharmTech solutions are being actively
developed.

FemTechIndustry
Reproductive
HealthFemTech diagnostics focuses on early
detection and prevention of female diseases.
Recently developed solutions include portabledevices that can be used at home and which
rely on AI and machine learning.

Diagnostics

Beauty for
FemTechUsing AI and advanced technologies has madeit possible to take female beauty routines to awhole new level. This involves advanced
skincare and haircare solutions, as well as
beauty devices addressing speciﬁc needs ofwomen.

Source: Media overview
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FemTech Industry: At a Glance

1550

1000

14

Companies

Investors

Subsectors

$16B

1000+

48%

Total Funding
AmountNumber ofInvestments

Covered by Three
Subsectors

30
R&D
Centers

50
Inﬂuencers

The FemTech Industry can be divided into 14 subsectors covering all aspects of women’s health ranging from Longevity, Pregnancy, Fertility to
Mental Health and Pharmtech. The report focuses on: 1,550 companies in which a total of $16 billion has been invested; 1,000 investors that haveinvested in more than 500 FemTech companies; 30 R&D centers; 50 top inﬂuencers. Pregnancy, Longevity, and Fertility are the three largest
subsectors accounting for 48% of the entire industry.

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FemTech Industry: At a Glance
Top Region

Top Subsector

Top ProductNorth America

Pregnancy

Services№1 Publicly Traded Company№1 Investment Deal

Top FemTech Accelerator$4.75B
Progyny$65.7M
Sera Prognostic

FemTechLab№1 Company by Funding Amount№1 Investor by Total Fund Raised

Top FemTech Events Organizer$2.48B
Evofem Biosciences$5.1B
Founders Fund

Women of
Wearables

Note: top region, top subsector and top product type were identiﬁed based on the largest number of FemTech companies.
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FemTech Market Size
FemTech Market Size, 2019-2027$60.1BCAGR 15.6%$21.7B

Valued at $18.7B in 2019, the FemTech market is
expected to grow to $60B by 2027, at a CAGR of
15.6%. Despite increased interest from investors,
the industry still remains underinvested; hence, it
has a huge growth potential.
The reason female healthcare has garnered somuch attention in recent years is that there has
been a shift in the sociocultural paradigm. Thanks
to that, many topics that were previously ignored
can now be openly discussed.
Increased awareness, early self-detection andbetter management of illnesses by women of allages have resulted in an increase in demand fortechnological solutions. As of now, this demandhasn’t been fully satisﬁed.

Source: Fortune Business Insights; Media overview
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FemTech Companies: Regional Distribution
Distribution of FemTech Companies by Regions, 2021
North America

Europe

51.9%

23.5%

Countries with the Largest Number of FemTech Companies, 2021

45%
Asia

13.9%
30%

Africa49.1%

1.6%
Australia

15%

4.7%
South America

4.4%

0%
USA

6.4%

4.9%

4.3%

2.8%

UK

India

Australia

IsraelWhen it comes to FemTech companies, North America, and particularly the US, is the undisputed leader. Accounting for nearly 52% of the total
number of FemTech companies, it beats other regions by a wide margin. Europe is second, at 24%, followed by Asia with 14%. The UK and Israel
are the two countries with the highest number of FemTech companies in their respective regions. Asia’s undisputed leader is India which accounts
for 5% of FemTech companies.

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FemTech Companies by Subsectors Overview
Distribution of FemTech Companies by Subsectors, 2021

FemTech Companies by Aggregated Subsectors, 2021
Diagnostics

PharmTech

4.6%

4.1%

Beauty for FemTech

5.4%
Personal Care &Wellbeing

Pregnancy & Nursing

25.5%

5.7%
Longevity

13.1%

Healthcare

Reproductive Health

19.5%

24.8%

Accounting for 21.8% of the total market, Pregnancy is the largest subsector of the FemTech Industry. It is followed by Longevity and Fertility,
which account for 13.1% each.
Pregnancy & Nursing is the largest aggregated subsector, followed by Reproductive Health, and Healthcare. Together, these top 3 aggregatedsubsectors account for 70% of the entire FemTech market.
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FemTech Companies by Product Overview
Distribution of Companies by Product in Absolute Values
and Percentage, 2021

Companies with Multiple Products, 2021
One ProductMultiple Products

34%

Device + Service

14%
17%

15%

13%

91%

13%
9%

9%

App + Device

13%
Femcare Product +Pharm Product

13%

Classifying the FemTech market by product types and analyzing the companies’ distribution, we see that Services is the largest category
accounting for 34% of the entire FemTech market. The other products are more or less evenly distributed. Interestingly, 91% of the companies
supply one product, while only 9% of them manufacture more than one product. The most popular combinations include Device and Service, App
and Device, Femcare Product and Pharm Product.
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FemTech Aggregated Subsectors Funding
FemTech Aggregated Subsectors by Funding Amount, 2021

Major FemTech Aggregated Subsectors by Funding Status, 2021
Late Stage Venture

Early Stage Venture

100%

8%
19%

6%

3%

15%

23%

22%

80%

Private Equity

IPO

32%

13%
69%

45%
53%

47%

55%

35%

62%
9%

20%

M&A

13%

24%
60%

40%

Seed

7%
13%

3%
24%

19%
4%
18%

19%

0%
Healthcare Reproductive
HealthLongevity

Pregnancy &Nursing5%11%Beauty for
FemTech19%
3%
PharmTech Personal Care
& Wellbeing

Comprised of General Healthcare and Women’s Cancers Treatment (about 300 companies totally), Healthcare aggregated subsector receives thehighest share of the total FemTech funding — 35.6%. Being the second largest aggregated subsector by the number of companies (384),
Reproductive Health is also on the second place in terms of funding (20.3%). Longevity has 18.7% of the total industry funding, having about 200
companies. Despite having 88 companies, Personal Care & Wellbeing is one of the least funded aggregated subsectors. In terms of the funding
status, Seed is the most popular type, followed by M&A and Early Stage Venture.
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FemTech Subsectors Using AI
FemTech Aggregated Subsectors Using AI, 2021
In total, 6% of FemTech companies use AI

Diagnostics

5%

Pregnancy &Nursing 19%

Beauty for
FemTech 21%

Personal Care &Wellbeing 2%

Reproductive
Health 29%

Healthcare

24%

Diagnostics

Personal Care & Wellbeing

Using AI technologies and big data tobetter identify health problems faced
by women; providing personalized
solutions in a matter of seconds.

Making healthcare and emotional wellbeing highly personalized through theuse of AI and machine learning toprovidesolutionsspeciﬁcallyaddressing the problem.

Pregnancy & Nursing

Reproductive HealthConnecting trusted experts to ensurethat women receive full andhigh-quality
care;
providingpersonalized
adviceduringpregnancy.

AI-powered
companies
havedeveloped a better understanding of
reproductive health at all stages,
which helps to monitor cycles andfertility windows.

Beauty for FemTech

Healthcare

By using AI, beauty tech companies
are able to provide women withpersonalized
offersandcare,according to their needs.

AI-based technologies provide carecoordinators and 24/7 telemedicine
access to a range of women’s
healthcare problems.

Of the six aggregated subsectors using AI, three account for 74% of all AI technologies used in FemTech. Being the second in terms of funding andby the number of companies, Reproductive Health has the highest number of companies using AI. Reproductive Health is followed by Healthcare
and Beauty for FemTech, accounting for 24% and 21% respectively. Personal Care & Wellbeing aggregated subsector has the lowest number ofcompanies using AI.
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FemTech Companies Using AI
Austria

United Kingdom

IsraelSteadySense
Subsector: Fertility
Product: Connected Device

KheironSubsector: Women’s Cancers
Product: Software

Nuvo Group
Subsector: Pregnancy
Product: Mobile App

Scarletred Holding
Subsector: Beauty for FemTech
Product: Mobile App

Nurturey
Subsector: Pregnancy, Nursing
Product: Mobile App

Gina Life
Subsector: General Healthcare
Product: Software

FranceUSA

Estonia

Apricity
Subsector: Fertility
Product: Mobile App

Flo Health
Subsector: Period
Product: Mobile App

Haut.AI
Subsector: Longevity
Product: Mobile App

FizimedSubsector: Sexual Healthcare
Product: Mobile App, Connected Device

Bloomlife
Subsector: Pregnancy
Product: Connected Device

VelmioSubsector: General Healthcare
Product: Mobile App

Source: Companies’ websites; Media overview
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Investments Landscape Overview
The fact that FemTech presents a viable investment opportunity can be explained by an ongoing upward trend in diversity andrecognition of the importance of preventive health and personalized medicine. Also, personalized wellness and consumer healthcaretechnology have recently been among the top-ﬁve investment areas in digital health.
Let’s have a look at some of the key aspects of FemTech investments.
The vast majority of decision-makers in the FemTech Industry are men. Only 17% of startups have at least one female founder, andonly 14% of VC investment goes to women-led startups. Almost 90% of investment decision-makers are male. Under suchcircumstances, conveying the needs of women and unleashing the full potential of the market is a big challenge.

M&A is most common among startups operating in the general health & wellness category. Only two companies were acquired in
2020, while as many as six were acquired in 2019. Five of the six acquired companies and the two M&A deals took place in thegeneral health & wellness subsegment. One of the largest deals involved the acquisition of Procter & Gamble for $100 million in
February 2019.
There has been an increase in funds committed exclusively to funding women's health enterprises. In response to the lack ofﬁnancing from traditional investment funds, niche funds, often led by women, have been emerging. Portfolia, a venture platform
ﬁnanced almost exclusively by female investors, announced the creation of a new fund that would focus exclusively on FemTech.
Another example is Astarte Ventures which invests in companies focusing on the health and wellbeing of women and children.

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Investments Landscape Overview
Global VC Investment in FemTech, 2012-2020

As of now, only 4% of tech investment in life
science target health tech solutions for women.
In 2020, a total of $520M of VC capital wasinvested in FemTech, a slight decrease from 2019’s$592M.
One of the reasons why the industry isn’t getting
signiﬁcant VC funding is the poor track record ofsizable exits.
Only ﬁve FemTech exits took place in 2020, withtwo companies acquired by Bayer (ETR:BYN), andsix completed in 2019.
Nevertheless, overall VC investment in FemTech
startups has grown tenfold since 2012.
2012

2013

2014

2015

2016

2017

2018

2019

2020

Source: Pitchbook data; Media overview
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Top Recent M&A Deals in FemTech
Company

FemTechAnalytics
FemTechAnalytics

Description

Acquirer

Exit ValueKaNDy Therapeutics is a biotech company focused on theBayer (ETR: BAYN)
treatment of menopausal symptoms.

$425M

Care/of provides direct-to-customer monthly subscription ofBayer (ETR: BAYN)
personalized vitamins and supplements.

$157M

This is L. is a manufacturer and distributor of award-winning organic Procter & Gamble
female personal care products.
(NYSE: PG)$100M

Acessa health is a biotech company that develops a minimally Hologic
invasive solutions to treat uterine ﬁbroids.
(NAS: HOLX)$80M

Cellapy’s services mainly focus on skincare products, anti-ageing ABLE C&C
creams, moisturizers, and lotions.
(KRX: 078520)$59M

Thomas Medical is a device manufacturer for women’s OBGYN,
MedGynsurgical, and fertility products.

N/A

Lucina is a maternity analytics platform for prioritizing at-risk Uniﬁed Women’s
pregnant mothers.
Healthcare

N/A

25

Top Investment Deals in FemTech in 2020
In 2020, a total of $376.2 million was invested in FemTech
startups.

Top-5 Investment Deals

Some of the major deals included:● Kindbody — $32M, a company offering gynecology, fertility,and family-building care in modern, tech-enabled clinics(Series B round);● TMRW Life Sciences — $36.5M, the world's ﬁrst and only
automated platform for the safe management and care of thefrozen eggs and embryos used in IVF (Series B round);● Sera Prognostics — $65.7M, the developer of the PreTRM test,
an innovative blood test that predicts an expectant mother'srisk of premature birth (Series D round);● Maven Clinic — $45M, helps companies retain diverse talent,
improve health outcomes, and reduce maternity and fertility
costs (Series C round); and● Care/of — $40.7M, provides a monthly subscription of
personalized vitamins (Series D round).
Source: Media overview
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FemTech Investors Distribution by Region and Funding
Distribution of FemTech Investors by Region, 2021
North America

Europe

54.9%

25.0%

FemTech Investment by Region, $M, 2021
Asia
5400
Asia

14.0%

North America
4500
EuropeAfrica3700

0.5%Australia
660

Australia

1.8%
Latin America

Latin America
140

0.5%

Accounting for nearly 55%, North America, and more speciﬁcally, the US, is the leader in the number of FemTech investors. Europe is second at
25%, while Australia, Africa, and South America jointly account for only 2.8%. Despite having only 14% of FemTech investors, Asia can boast thelargest share of Investment ($5.4B). There is a huge gap between investments in the top and bottom regions, such as Australia, Latin America, andAfrica.
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FemTech Investors Distribution by Aggregated Subsectors
FemTech Investors by Aggregated Subsectors in %, 2021
Personal Care &Wellbeing 4.6%

PharmTech

Diagnostics

Reproductive Health

4.7%

25.8%

Number of FemTech Investors by Aggregated Subsectors, 2021

1.1%
333

Beauty for FemTech

6.1%

259

243

241
187

Pregnancy & Nursing

18.7%

Longevity

Healthcare

18.8%

20.2%

79

61

59
14

Investors
split in %Invest in
1 Subsector

59%

Invest in Multiple 41%
Subsectors

Personal
Reproductive
Pregnancy & Beauty for
Healthcare Longevity
Diagnostics
Care &
HealthNursing
FemTechWellbeing

Pharm
Tech

FemTech investors mainly invest in Reproductive Health (25.8%). Healthcare and Longevity are the next largest aggregated subsectors in terms ofinvestment (20.2% and 18.8% respectively). PharmTech has the lowest number of investors (1.1%). More than 40% of investors invest in multiple
subsectors. The distribution of investors corresponds to the percentage share; out of the total number of investments, 333 were made in
Reproductive Health (and more speciﬁcally, in Fertility, Period, and Sexual Healthcare).
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Distribution of FemTech Investors by Type and Number of Investments
FemTech Investors Share by Types, 2021

Distribution of Investors by Investments, 2021
Investments Amount in $B

Accelerator/
Incubator

4.5

Venture Capital/ Corporate VC/ Micro VC

Private Equity Firm

68%

10%

OthersAngels6%

5%

Number of Investors

11%
3.8
1.8
1.4
1.2

227

305
171

0.3

136

1-10

11-50

51-100101-20080

67

201-400

401-1000

Number of Investments

Venture capital (VC) ﬁrms, including Corporate VC and Micro VC, account for 68% of all investors. Other investors include Accelerators/Incubators,
Private Equity Firms, and Angels. With a total investment of $1.8 B, FemTech Investors mostly have 11-50 investments in their portfolios. At$4.5 B, investors with 51-100 investments have the highest value of investments. 71% of investors have fewer than 100 investments in theirportfolios.

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Investors Exclusively Focused on FemTech
1

The Portfolia FemTech Fund focuses on emerging technologies, products and services improving women’s
health and wellness throughout their lives.

2

Avestria Ventures Management, LLC operates as a venture capital ﬁrm. The Company invests in early stage
women's health and life science companies.

3

SteelSky Ventures is an early stage fund investing in the future of Women’s Health. The fund is focused oninvesting in high growth companies that signiﬁcantly improve access, care and outcomes in women’s health.

4

Astarte Ventures is the ﬁrst venture fund dedicated exclusively to the health and wellbeing of women andchildren, with a primary focus on early intervention and prevention measures.

5

Female Founders Fund is a seed stage venture fund that invests exclusively in female-founded companies.
The focus areas are e-commerce, media, platforms, advertising and web-enabled services.

6

Rhia Ventures is an investment fund and incubate programmatic initiative. Rhia Ventures invests inreproductive healthcare solutions that empower women.

7

The Case for Her is a philanthropic investment portfolio addressing the key women’s health issues of
menstruation and female sexual health through grants, investments, conventions, and advocacy.

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FemTech Accelerators
1

FemTech Lab

11

XLerateHealth2

FemTech Program at Station F

12

P4 Precision Medicine Accelerator

3

GUILD ACADEMY – FemTech

13

DayOne4

AXA & 50in Tech

14

Nex Cubed

5

EVE FemTech Hub

15

Startupbootcamp

6

JLABS

16

Scale Los Angeles

7

DigitalHealth.London

17

Startup Creasphere

8

Bayer G4A

18

UnitedHealthcare Accelerator

9

Springboard’s Health Innovation Hub

19

The New York Digital Health Innovation Lab

10Dreamit20

Rockstart Health

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Longevity in
FemTech2021 / Q2

www.femtech.health© 2021Longevity in FemTech
Being an important part of the FemTech Industry, FemTech Longevity focuses on technologies, services, and research related toextending women’s healthy lifespan. FemTech Longevity companies are engaged in research, treatment, and diagnosis of
age-related diseases, as well as research in the ﬁeld of regenerative medicine. They also provide information, medical, andpsychological assistance to women seeking to live longer and happier lives.
By focusing exclusively on female health, a tech sector will inevitably acquire special signiﬁcance for areas inextricably linked to theaging process (e.g. effects of menopause). Hence, FemTech has formed a synergetic connection with the Longevity Industry. The
FemTech sector was popularized after the creation of the Centre for Female Reproductive Longevity and Equality at the Buck
Institute for Research on Aging – a center for FemTech in all but name.

In the years 2015-2020, women's life
expectancy averaged 83.4 years

In all parts of the world, women on
average live longer than men.

Men’s life expectancy is almost 7% (orabout 8 years) less than women’s.

It may seem that the difference in life expectancy between women and men can be explained only by biological reasons. However,
women actually face a lot more diﬃculties on their way to longevity. The high mortality rate among mothers is reason enough formen to be seriously concerned. Women's health is also strongly affected by social background (employment, income level, family
responsibilities) and environmental conditions.
Source: Companies’ websites; Media overview
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Longevity in FemTech
The rise of the FemTech Longevity sector may partly be theresult of the increasing lag between female healthspan (thenumber of years free from chronic, degenerative age-relateddisease) and their rising lifespans. Females have higher
average lifespans and life expectancies than men. However,the number of years spent suffering from age-relateddiseases like dementia is also higher.

Life Expectancy of Women vs Life Expectancy of Men, 2020

This creates an unmet need for products and services aiming
to maximize female healthspan that the rising FemTech
Longevity sector is striving to fulﬁll. As population aging
continues to steepen, and the proportion of individuals above
the age of 60 continues to rise, the available market for
FemTech Longevity companies rises proportionally.
The chart above shows life expectancy at birth for men and women. As we can see, all countries are above the diagonal parity line – thismeans in all countries a newborn girl can expect to live longer than a newborn boy. Interestingly, this chart shows that while the female
advantage exists everywhere, the cross-country differences are large. In Russia, women live 10 years longer than men; in Bhutan, thedifference is less than half a year.
Source: Companies’ websites; Our World in Data
FemTechAnalytics
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34

Longevity in FemTech
MENTAL HEALTH

BREAST CANCER TREATMENT

MENOPAUSE SOLUTIONS

In general, women do not experience
more emotional disorders than men. At
the same time, they are more
susceptible to anxiety and depression.

Breast cancer is the most diagnosed
disease and the leading cause ofcancer-related deaths worldwide. Hence,
the longevity of women depends on theearly diagnosis and successful treatmentof breast cancer.

It is a well-known fact that menopause cancause an increase in the accumulation of
abdominal adipose tissue. Aging can also
trigger weight gain which can increase therisk of development of serious diseases,
such as cancer, hypertension, type 2
diabetes, stroke, and osteoarthritis.

According to the World HealthOrganization, about 10% of pregnant
women and about 13% of postpartum
women experience mental healthproblems, the most common of which
is depression.
Unfortunately, few women today areaware of the existence of companies
that can help them deal withpregnancy-related challenges. PANDAS
and BeneﬁtBump are only two
examples from the long list of suchcompanies.

Ribociclib, also known as Kisqali, is a
medicinedevelopedbytwobiotechnological companies - Novartis
and Astex Pharmaceuticals. It is used totreat oestrogen receptor positive, HER2
negative, and metastatic breast cancers.
CDK inhibitors prevent the growth anddivision of cancer cells by inhibiting
kinases, enzymes that catalyze thetransfer of phosphate groups from one
molecule to another.

In the past two decades, evidence of the
beneﬁts of calorie restriction for longevity
in women has begun to emerge. It has beenfound that calorie restriction without
malnutrition can improve the situation withmarkers of aging and age-associateddiseases, such as Type 2 diabetes,
cardiovascular diseases, cancers, andneurological disorders.

Source: Companies’ websites; Media overview
FemTechAnalytics
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35

FemTech Longevity Companies Regional Distribution
Leading Countries by Share ofLongevity Companies, 2021

Distribution of FemTech Longevity Companies by Major Regions, 2021

Europe

20%

58%

9%

5%

4%

3%

2%

North America

62%

Middle East
Asia

7%

6%

Australia

3%

Geographically, the vast majority of companies in the FemTech Longevity subsector are based in North America, particularly in the United States,
where 58% of companies are located, and Canada at 4%. Europe is the second-largest region, with a 20% share, led by United Kingdom. Israel leads
the Middle East region in the number of companies. Asian countries and Australia are somewhat less represented by FemTech Longevity subsector.

FemTechAnalytics
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FemTech Longevity Companies by Revenue Overview
Distribution of FemTech Longevity Companies by Revenue, 2021

Top FemTech Longevity Companies by Revenue, 2021

> $100M$50M to $100M$10M to $50M

The largest number of companies comprising 46% out of total in the FemTech Longevity subsector show revenue, estimated in the range of$1M-$10M. The revenue of about 37% of companies does not exceed $1M, while 17% of players have revenue as high as $10M or more.
FemTechAnalytics
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Longevity in FemTech: Companies Funding
Distribution of FemTech Longevity Companies by Funding Amount, 2021

Top 10 Companies by Total Funding Amount ($M), 2021

Funding of companies in the FemTech Longevity subsector totaled over $3B in 2021, with 75% falling to the top 10 market players. In fact, 40% offunding was made through M&A, 28% from IPO, and 21% from VC.

FemTechAnalytics
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38

The Future of FemTech Longevity
Given the recent increase in the number of FemTech companies with a core Longevity component, we predict a rise in the number of
FemTech companies focused on Longevity in particular.

Thus far, these have tended to concentrate mainly on fertility issues, since Longevity in fertility, given the present state ofregenerative medicine, is a low hanging fruit and the next great step for FemTech. Whereas other aspects of age-related dysfunction
in female-speciﬁc bodily processes depend on a complex system of tissues and organs – such as menopause-related hormonal
imbalances, for example – for the most part, female age-related infertility comes down to a decline in the function of ovarian cells.

Progress in biomedicine, especially in the use of gene therapies and stem cell therapies to reverse aging in entire biological systems
such as the endocrine system, will bring an ever wider range of age-related issues under FemTech’s purview.

We should expect to see a female-centric healthspan extending sector emerge naturally in the course of the following pursuits:
Finding geroprotectors that appear to have differential
effects in men and womenFinding interventions (such as geroprotectors and gene therapies)that upregulate genes associated with women's higher life
expectancy

Source: Companies’ websites; Media overview
FemTechAnalytics
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39

The Future of FemTech Longevity
A great deal of future FemTech will take the form of AI-powered software as a service(SaaS), including courses of monitoring and advice particularly reliant on deep learning, suchas that developed by Haut.AI.
Their product is a form of deep learning-powered SaaS for skincare. They help clientsdevelop new skincare strategies, selecting for them skin care treatments for their individual
skin type, climate, health status, geography, and other parameters, to personalize thetreatments for each individual. The software tracks and updates these parameters over theyears, to help aging skin retain a youthful look.
They also create an interaction between business and customers, facilitating R&D by
feeding back data from 100,000 skin images to the company for further deep learning andconsequently more accurate and eﬃcient skin care regimes. It is expected that informationcollected from individual users of such services will provide researchers with large
databases of metrics, offering the potential for doctors to better understand a wide range ofaspects of women’s health as they age.
However, for serious kinds of female age-related disease such as breast cancer, such kindsof data analytics would need huge amounts of authentic patient data from patients indifferent countries and diverse racial and genetic backgrounds, for deep analysis and thecreation of different patterns for successful detection.

●●●

Scientiﬁcally-backed accuracy
Simple yet might API
Powerful tool

Source: Companies’ websites; Media overview
FemTechAnalytics
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40

Leading Companies
in the FemTech Industry
2021 / Q2

www.femtech.health© 2021

FemTech Companies by Estimated Revenue, 2021
$50M to $100M

FemTechAnalytics
FemTechAnalytics$100M to $500M$500M to $1B$1B to $10B

42

Top Companies by Investments and Investment Stage$150M

Sera Prognostics

$100M

$117M

Willow
Seed Health
AltruBio

$27M

$40M

$40M

$63M

$85M

CTI BioPharma

$51M

$452M

Prometheus Biosciences
$376M

Ro

Round A
FemTechAnalytics
FemTechAnalytics

$55M

$64M

X4 Pharmaceuticals

FOLX Health $4M

$30M

$218M

Evofem Biosciences$219M

Funding amountprior to the last
deal

$500M

Funding amountby the last deal

$25M

Round B

Round C

IPO
43

Top Companies by Investments and Investment Stage$412M

TherapeuticsMD$202M

Sutro Biopharma$79M

Ellevest

$110M

$145M

$12M

$40M

SOPHIA GENETICS

$110M

$60M

Olema Oncology

$85M

$30M

$38M

ExoCoBio
Carrot Fertility

$15M

$24M

$90M

Aspira Women’s HealthGeltor$23M

Kindbody$31M

Round A
FemTechAnalytics
FemTechAnalytics$11M

Funding amountprior to the last
deal

$91M

Funding amountby the last deal

$32M

Round B

Round C

IPO
44

Top Companies by Investments and Investment Stage$113M

Ritual
Tia

$9M

$22M

$24M

LetsGetChecked

$71M

$42M

$40M

Maven Clinic$25M

ImCheck Therapeutics

$45M

$53M

$8M

$139M

Agile Therapeutics$3,712MBayer
The Pill Club

$11M

$51M

$27M

uBiomeSoYung Technology

Round A
FemTechAnalytics
FemTechAnalytics

Funding amountprior to the last
deal

$83M

$159M

Round B

Funding amountby the last deal

$70M

Round C

IPO
45

20 FemTech Companies Proﬁles*
Ava

Clue

Ava helps women track physiological signs of fertility.
By wearing a special bracelet during sleep, they canmonitor their health, detect a fertility window, and track
pregnancy. After identifying nine different physiologicalsignals of fertility, the bracelet determines ﬁve mostfertile days within a cycle and informs the wearer of it
via an app in real time.

Clue is a FemTech app that helps people who
menstruate keep tabs on their cycles, educating them
about their bodies in the process. Being free andAI-driven, the app can be used to track periods andovulation. Its special algorithm makes it possible todetermine when each of these windows is available in agiven month.

Web Site:www.avawomen.com

Web Site:

helloclue.com

Category:

Fertility, Pregnancy

Category:

PeriodFounded in:

2014Founded in:2012

Based in:

Zurich, Switzerland

Based in:

Berlin, Germany

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 42.4 M

Total Funding Amount:$ 29.6 M

Investors

Investors*Here and after in this chapter: information assembled for 20 players in their speciﬁc category as the examples.
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20 FemTech Companies Proﬁles
Tempdrop

Elvie

Tempdrop uses body temperature to help women track
their cycles. A tracker, which ﬁts in the armpit overnight,
has two temperature sensors and a motion sensor.
Designed to identify patterns in body temperature during
sleep, it even works for women that have trouble
sleeping, suffer from irregular cycles, or experience
PCOS.

Elvie develops wearable breast pumps and smart pelvic
ﬂoor trainers. Being small, light, portable, and silent, its
Elvie Pump represents the next generation of suchdevices. Elvie Trainer tackles the surprisingly common
problem of a weak pelvic ﬂoor.

Web Site:www.tempdrop.xyz

Web Site:www.elvie.com/en-gb

Category:

Fertility

Category:

Nursing, Sexual Healthcare

Founded in:

2012Founded in:2013

Based in:IsraelBased in:London, United Kingdom

Funding Status:

Accelerator / Incubator

Funding Status:

Early Stage Venture

Total Funding Amount:$ 25.3 M

Total Funding Amount:$ 53.8 M

Investors

FemTechAnalytics
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Investors

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20 FemTech Companies ProﬁlesNatural Cycles

Flo HealthNatural Cycles is the ﬁrst FDA-cleared contraceptive appthat spearheads the development of digital
contraception. Its mission is to pioneer women’s healththrough research and passion. It achieves this by
informing women of the need to take charge of theirhealth. Natural Cycles can also be used to plan apregnancy.

Flo Health is the developer of Flo, an AI-driven app
informing women of every stage of their reproductive
cycle. It also helps them predict menstruation, as well as
prepare for conception, pregnancy, early motherhood,and menopause. Using Data Science and AI, Flo delivers
the most personalized content and services.

Web Site:www.naturalcycles.com

Web Site:

ﬂo.healthCategory:

Fertility

Category:

AI for FemTech

Founded in:

2013

Founded in:2013

Based in:

Stockholm, Sweden

Based in:

San Francisco, United States

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 37.5 M

Total Funding Amount:$ 25.5 M

Investors

FemTechAnalytics
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Investors48

20 FemTech Companies Proﬁles
Inne

Woom

Inne is a Berlin-based biotech startup that aims to build
a hormone-based mini lab for women. It strives to makenatural contraception more convenient and accurate. By
using advanced biochemistry methods and ahormone-tracking app, Inne tries to understand how
hormones affect a woman's fertility.

WOOM is a mobile application that helps reduce the timeof conception through the body’s self-knowledge andhabits of life. It provides its users with an ovulation andfertility calendar which helps them determine fertile
windows and the probability of pregnancy for each dayof their cycle.

Web Site:www.inne.io

Web Site:www.woomfertility.com

Category:

Fertility

Category:

Fertility, Period

Founded in:

2016

Founded in:2015

Based in:

Berlin, Germany

Based in:

Madrid, Spain

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 8.0 M

Total Funding Amount:$ 4.4 M

Investors

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Investors

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20 FemTech Companies Proﬁles
Kindbody

Grace Health

Kindbody is a company that provides a full range ofwomen's health, fertility and wellness services tocompanies and individual patients. They include a blood
test, an ultrasound of the client's ovaries, a medical
history review, a consultation with a fertility specialist,
and a personalized plan.

Grace Health maintains a full-scale digital healthplatform which women from developing countries canaccess via an intelligent chatbot and mobile app. Given
the fact that over 80% of women own a smartphone,
Grace Health is leading the way in transforming
healthcare online.

Web Site:www.kindbody.com

Web Site:www.grace.healthCategory:

Fertility, Pregnancy

Category:

General healthcare

Founded in:

2018Founded in:2017

Based in:

New York, United States

Based in:

Stockholms, Sweden

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 63.3 M

Total Funding Amount:$ 2.5 M

Investors

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Investors

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20 FemTech Companies Proﬁles
Next Gen Jane

Renovia

NextGen Jane is a data-driven women's health company
providing women with a smart tampon system thattracks biological changes caused by diseases. The
company's smart tampon platform allows its users toconveniently mail-in cells from the reproductive tractthat are shed during menstruation.

Renovia develops digital therapeutics for women withurinary incontinence and other pelvic ﬂoor disorders.
Thanks to its non-invasive and drug-free treatment,
Renovia can visualize pelvic movement in real time
during pelvic ﬂoor muscle training.

Web Site:www.nextgenjane.com

Web Site:renoviainc.com

Category:

Diagnostics

Category:

Sexual Healthcare

Founded in:

2014Founded in:2016

Based in:

Oakland, United States

Based in:

Boston, United States

Funding Status:

Early Stage Venture

Funding Status:

Late Stage Venture

Total Funding Amount:$ 11.3 M

Total Funding Amount:$ 72.0 M

Investors

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Investors

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20 FemTech Companies Proﬁles
BellabeatWillow

Bellabeat creates innovative products that help women
easily track their health at different stages of their lives.
The company’s mission is to collect data on women’s
activity, sleep, and reproductive health. Using this data, itwill create a unique algorithm alerting women of a time
when they’re more susceptible to stress.

Founded in 2014, Willow is a Silicon Valley-based
company that focuses on improving the lives and healthof women. Its all-in-one breast pump that ﬁts inside a bra
has brought about a revolution in breastfeeding. Its main
advantages include mobility, quietness and resilience tospillovers.

Web Site:www.bellabeat.com

Web Site:www.willowpump.com

Category:

General Healthcare, Emotional Wellbeing

Category:

Nursing

Founded in:

2013

Founded in:2014

Based in:

San Francisco, United States

Based in:

Mountain View, United States

Funding Status:

Late Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 18.8 M

Total Funding Amount:$ 144.0 M

Investors

FemTechAnalytics
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Investors

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20 FemTech Companies ProﬁlesAdvantia Health

OvuSense (Fertility Focus)

Advantia Health is an integrated healthcare delivery
company that helps women manage their health, as wellas the health of their families. By using modern
technology and highly eﬃcient outpatient facilities, thecompany provides its clients with high-quality care. It
also provides them with a wide range of services,
including telemedicine,.

OvuSense helps women predict a fertility window andabsence of ovulation. By providing married couples withuser-friendly information, OvuSense helps them
determine the best time for a sexual intercourse and theneed for fertility treatment. It also enables them todetermine the optimum timing for intrauterine
insemination treatment

Web Site:www.advantiahealth.com

Web Site:www.ovusense.com

Category:

General Healthcare

Category:

Fertility

Founded in:

2014Founded in:2005

Based in:

Arlington, United States

Based in:

Warwick, United Kingdom

Funding Status:

VentureFunding Status:

Debt Financing

Total Funding Amount:$ 49.7 M

Total Funding Amount:$ 10.3 M

Investors

FemTechAnalytics
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Investors

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20 FemTech Companies ProﬁlesGennev

Haut.AI

Gennev is a digital health company that provides
women suffering from hormone-driven symptoms (e.g.
hot ﬂashes, insomnia, anxiety, and loss of libido) witheasy access to information, health providers andcommunity. Gennev maintains an online platform where
they can learn about available solutions and get
recommendations for symptom relief.

Haut.AI is an innovative SaaS product that automatesthe collection of high-quality skin data and helps
skincarebrandsbuildinteractive
product
recommendations on e-commerce platforms. It
facilitates R&D, provides essential tools for building skinanalysis apps, and allows brands to have a better
understanding of their clients’ needs.

Web Site:www.gennev.com

Web Site:haut.aiCategory:

Menopause Solutions

Category:

Beauty for FemTech

Founded in:

2015Founded in:

2018

Based in:

Seattle, United States

Based in:

Tallinn, Estonia

Funding Status:

Seed

Funding Status:

Early Stage Venture

Total Funding Amount:$ 4.5 M

Total Funding Amount:

N/A

Investors

FemTechAnalytics
FemTechAnalytics

Investors

54

20 FemTech Companies Proﬁles
Glow

The Pill Club

Glow is a fertility app that crunches vast quantities ofdata to help users take control of their reproductive
health. It helps women track their cycles and get themost accurate fertility predictions. It also assists
women in many phases of their reproductive journey,such as avoiding pregnancy, conceiving, pregnancy, andpostpartum.

The Pill Club is the ﬁrst all-in-one healthcare service
delivering birth control across the US. Backed by
Stanford physicians, Being a telemed service, it
promotes a healthy lifestyle by providing birth control,
emergency contraceptives, and free gifts.

Web Site:www.glowing.com

Web Site:

thepillclub.com

Category:

Fertility, Pregnancy

Category:

Fertility

Founded in:

2013

Founded in:2014

Based in:

San Francisco, United States

Based in:Redwood City, United States

Funding Status:

Late Stage Venture

Funding Status:

Late Stage Venture

Total Funding Amount:$ 23.0 M

Total Funding Amount:$ 61.7 M

Investors

FemTechAnalytics
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Investors

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Leading Investors
in the FemTech Industry
2021 / Q2

www.femtech.health© 2021

Leading FemTech Investors
Investor Name

Investor Type

Investment Stage

Total Fund Raised

Number of Investments

Venture Capital

40%

9%

Venture Capital

5%

1%

Venture Capital

23%

13%

Micro VC

3%

6%

Venture Capital

5%

6%

Venture Capital

15%

5%

Angel Group1%

1%

Venture Capital

1%

1%

Accelerator

5%

52%

Micro VC, VC

3%

7%

Notes:a) The list of top 10 investors is based on weighted ﬁnancial performance and FemTech share in total number of investments;b) Pie charts show stage(s) at which an investment is made, i.e., clockwise: 1st quarter - seed and start-up, 2nd quarter - early stage, 3rd quarter - growth stage, 4th quarter - late stage;c) Filled in is considered as blue;d) Investors’ share in Total Fund Raised and Number of Investments are calculated based on the assumption that these 10 investors account for 100%.
FemTechAnalytics
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57

Founders Fund
Investor Type: Venture Capital
Number of Investments

Total Fund Raised$ 5 100 000 000

655

Investment Industries by Number of Investments:
102

Software2004

44

FinTechSan Francisco,California, United States

Foundation Date:

50

HealthCare

Headquarters:

Number of employees:

Founders Fund is a San Francisco-based
venture capital company that invests incompanies
creating
revolutionary
technologies. It has invested in a wide variety
of sectors, including health, artiﬁcial
intelligence, and advanced computing.
www.foundersfund.com

11-50

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage58

Arboretum
Investor Type: Venture Capital
Number of Investments

Total Fund Raised$ 610 000 000

79
Headquarters:

Investment Industries by Number of Investments:
40

Healthcare

Foundation Date:

21

Biotechnology
MedicalAnn Arbor, Michigan,
United States

2002

18

Number of employees:

Arboretum Ventures is a Michigan-based
venture capital ﬁrm that invests in thehealthcare sector. The company focuses on
medicalservices,
medicaldevices,diagnostics,
healthcare
information
technology, therapeutics, technology-based
healthcare services, and life science tools.
www.arboretumvc.com

1-10

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage

59

Khosla Ventures
Investor Type: Venture Capital
Number of Investments

Total Fund Raised$ 2 900 000 000

903

Investment Industries by Number of Investments:
112

SoftwareAI

Menlo Park, California,
United States

Foundation Date:

92

Healthcare

Headquarters:

2004

57

Number of employees:

Khosla Ventures is a venture capital ﬁrm
investing in consumer goods, enterprise,
education, advertising, health, ﬁnancial
services,
semiconductors,
big
data,
agriculture, food, sustainable energy, androbotics.
www.khoslaventures.com

51-100Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage

60

Slow Ventures
Investor Type: Micro Venture Capital
Number of Investments

Total Fund Raised$ 430 000 000

454
Headquarters:

Investment Industries by Number of Investments:
79

SoftwareFoundation Date:

59

Internet
Healthcare

San Francisco,
United States

2009

42

Number of employees:

Slow Ventures invests in technology-driven
companies and companies operating on the
cutting edge of science, society, and culture.
Slow provides their founders with theresources, connections, experiences, andempathy required to build strong andsustainable companies.
www.slow.co

1-10

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage

61

InterWest Partners
Investor Type: Venture Capital
Number of Investments

Total Fund Raised$ 650 000 000

419
Headquarters:

Investment Industries by Number of Investments:
65

Healthcare
57

Biotechnology
Software39

Menlo Park, California,
United States

InterWest is a venture capital ﬁrm investing incompanies through a full range of venture
investment stages. It primarily invests inhealthcare, biotech, and software companies.

Foundation Date:
1979

Number of employees:

www.interwest.com

1-10

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage

62

Union Square Ventures
Investor Type: Venture Capital
Number of Investments

Total Fund Raised$ 1 900 000 000

336
Headquarters:

Investment Industries by Number of Investments:
26

SoftwareFoundation Date:

20

Healthcare
Internet

New York,
United States

2003

11

Number of employees:

Union Square Ventures is a private equity andventure capital ﬁrm focusing on early-stage,
growth capital, late-stage, and startup
ﬁnancing. Investing mostly in the Internet andhealthcare,itprimarily
focusesonapplications and online services that can beused to create large networks.
www.usv.com

11-50

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage

63

Astia Angels
Investor Type: Angel Group
Number of Investments

Total Fund Raised$ 100 000 000

53
Headquarters:

Investment Industries by Number of Investments:
14

Healthcare

Foundation Date:

7

Biotechnology
Medical Device

San Francisco,
United States

Astia Angels is a global network of both
female and male angel investors that invest
in high-growth companies.

2013

6

Number of employees:

astia.org/astia-angels

1-10

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage64

Catalyst Health Ventures
Investor Type: Venture Capital
Number of Investments

Total Fund Raised$ 155 200 000

43
Headquarters:

Investment Industries by Number of Investments:
15

Healthcare

Foundation Date:

13

Medical Device

1998

10

Biotechnology

Braintree,
United States

Number of employees:

Catalyst Health Ventures is an early-stage
venture capital ﬁrm investing in technology
solutions applied in the health care and life
science industries. At the core of its strategy
is a hands-on approach to working withmanagement and syndicate partners.
www.catalysthealthventures.com

1-10

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage65

Y Combinator
Investor Type: Accelerator
Number of Investments

Total Fund Raised$ 700 000 000

3 759

Investment Industries by Number of Investments:
802

Software

Healthcare

Mountain View,
United States

Founded Date:

300

Internet

Headquarters:

Y Combinator is a startup accelerator thatinvests in a large number of startups.
According to its funding model, it invests a
small amount of money ($150k) in a large
number of early-stage startups twice a year.

2005

278

Number of employees:

www.ycombinator.com

N/A

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage66

Box Group
Investor Type: Micro VC, Venture Capital
Number of Investments

Total Fund Raised$ 330 000 000

479
Headquarters:

Investment Industries by Number of Investments:
89

SoftwareFoundation Date:

44

Internet
Healthcare

New York,
United States

BoxGroup is an early-stage investment fundinvesting in consumer, enterprise, ﬁntech,healthcare, and life science industries. It also
invests in early-stage industries (as early as
pre-seed and as late as Series A rounds).

2009

41

Number of employees:www.boxgroup.com

1-10

Investment Stages
Start-up

FemTechAnalytics
FemTechAnalytics

Seed Stage

Invested in
Early Stage

GrowthStage

Late Stage

67

Top Publicly Traded
Companies
2021 / Q2

www.femtech.health© 2021

Top 10 Publicly Traded Companies by Capitalization, 2021

FemTechAnalytics
FemTechAnalytics

69

Publicly Traded Companies at a Glance
Publicly Traded Companies Subsectors and Funding Amount, 2021

Publicly Traded Companies Regional Distribution, 2021

Subsectors Share in FemTech Publicly Traded Companies
Total Funding Amount ($B)
25%

1,4
1,2

20%

North America
Europe

1
15%
0,8
10%

Asia

0,6

Australia
5%

0,4
0,2

0%
GeneralHealthcare

Fertility

Women’s
Cancers

Beauty for
FemTechSexualHealthcare

Pregnancy

Diagnostics
Number of Companies

Having the highest share of Publicly Traded Companies, General Healthcare is followed by the Fertility, Women’s Cancers Treatment, and Beauty for
FemTech subsectors. As can be seen in the above diagram, the number of companies does not entirely correlate with the funding amount.
Pregnancy is funded relatively better, while Fertility and Sexual Healthcare get less funding.

FemTechAnalytics
FemTechAnalytics

70

FemTech Publicly Traded Companies by Categories
Reproductive Health

Healthcare

Beauty for FemTech

FemTechAnalytics
FemTechAnalytics

Diagnostics & PharmTech

Pregnancy & Nursing

71

FemTech: Recent IPOs
The majority of IPOs were launched in the US (60%). Ten recent IPOs raised $1B+ totally, led by Hims & Hers with the largest amount so far. Overall,ﬁnancial indicators suggest poor performance of the majority of listed companies, the only exception being Progyny (Reproductive Health),
InMode (Beauty for FemTech), and SoYoung Technology (Beauty for FemTech), all of which have shown stable results.
Name

Country

FundingAmount, $M

IPO Date

Money raised
at IPO, $M

Capitalization, $M

ROA

ROE

Proﬁt Margin

Operating Margin

EV/
EBITDANet Income,$M

Hims & Hers

USA

158.0

21.01.21280.0

2070.0-9.92%-24.15%-12.18%-10.18%-177.5-18.1

Olema Oncology

USA

145.0

23.11.21

240.0

968.3

-7.85%-13.13%0%0%-35.67-23.9

Progyny

USA

116.0

24.10.19

130.0

4750.05.46%

33.04%

13.47%

5.12%

248.5

46.5

InModeUSA

N/A

08.08.19

70.0

3110.017.71%

34.47%

36.4%

35.34%

41.0

75.0

SoYoung
Technology

China

229.0

02.05.19

179.0

901.5

-1.09%

0.19%

0.45%

-4.38%

37.1

5.8

Andina Gold

USA

0.1

29.03.19

N/A

17.7

-34.67%-82.32%

0%

-836%

-2.5

-6.9

Predilife

FranceN/A

21.12.18

4.1

24.6

-73.88%00%-6086%

-10.9

-1.9

HeraMED

Israel

N/A

12.12.18

4.3

24.6

-63.46%-153.16%0%-8733%-6.4-3.4

Sutro Biopharma

USA

347.0

26.09.19

85.0

910.1

-16.15%-14.95%-75.2%-166.5%

-8.8

-32.1

Sensyne Health

UK

3.7

16.08.19

76.0

276.9

-29.91%-59.71%0%-598.9%

-10.8

-25.8

FemTechAnalytics
FemTechAnalytics

72

Hims&Hers
Stock Price History

Headquarters:

San Francisco, United States

Founded in2017

Number of Employees:

251-500

FemTech Subsector:

General Healthcare

FemTech Product:

Services

By connecting consumers with licensed medical professionals, Hims &Hers makes it possible for the former to get quality health and wellness
care. The company’s mission is to eliminate stigmas and provide
people with easier access to treatment for conditions impacting their
daily lives. Thanks to the company’s telemedicine approach, itscustomers can save money on diagnosis and treatment.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

HIMS

0.32%

2.29%

56%

2.5

FemTechAnalytics
FemTechAnalytics73

Olema Oncology
Stock Price History

Nov

Dec

Headquarters:

San Francisco, United States

Founded in2007

Number of Employees:

11-50

FemTech Subsector:

Women’s Cancers Treatment

FemTech Product:

Pharm ProductOlema is a preclinical biotechnology company developing drugs for thetreatment and prevention of estrogen receptor (ER) positive breast
cancer. The company focuses on the development andcommercialization of targeted therapies for women's cancers. Its goal
is to transform the care for pre- and post-menopausal women livingwith cancer through the development of effective therapies.

Jan

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

OLMA

0.56%

6.8%

60.4%

0.968

FemTechAnalytics
FemTechAnalytics

74

Progyny
Stock Price History
Headquarters:

New York, United States

Founded in2008

Number of Employees:

101-250

FemTech Subsector:

Fertility

FemTech Product:

Software, Service

Progyny is a fertility beneﬁts management company that combines
clinical and emotional guidance and support with science, technology,
and data to provide comprehensive, inclusive, and effective value-based
fertility solutions for self-insured employers. Progyny’s beneﬁt plans aredesigned to improve outcomes, as well as reduce the time required toconceive and reduce fertility-related costs.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

PGNY

0.44%

5.1%

89%

4.75

FemTechAnalytics
FemTechAnalytics

75

InModeStock Price History

Headquarters:

Lake Forest, United States

Founded in2008

Number of Employees:

251-500

FemTech Subsector:

Beauty for FemTech

FemTech Product:

Connected Devices

InMode develops, manufactures, and markets platforms that harness
novel radio-frequency (RF) technology, which consists of minimallyinvasive, surgical aesthetic and medical treatment platforms for faceand body contouring, medical aesthetics, and women's health.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

INMD

0.11%

7.34%

N/A

3.11

FemTechAnalytics
FemTechAnalytics

76

SoYoung Technology
Stock Price History
Headquarters:

Beijing, China

Founded in2013

Number of Employees:

501-1000

FemTech Subsector:

Beauty for FemTech

FemTech Product:

Mobile App, Device

This Beijing-based company has developed SoYoung, an app designed
to sustain women’s beauty (as of now, it has been downloaded 10
million times). Its goal is to enlist 200 clinics and thousands of plastic
surgeons to its platform within three years as the cosmetic industry in
China faces fewer policy restrictions than traditional medical
procedures, such as heart operations.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

SY

0.3%

3%

127%

0.901

FemTechAnalytics
FemTechAnalytics

77Andina Gold
Stock Price History

Headquarters:

Englewood, United States

Founded in2011

Number of Employees:

51-100FemTech Subsector:

PharmTech

FemTech Product:

Pharm ProductAndina Gold offers cannabinoid products that can be used for athletic
recovery, women’s wellness, and personal care. The company’s goal is
to become the number one CPG company in the US.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

AGOL

0.51%

17%

N/A

0.178

FemTechAnalytics
FemTechAnalytics

78

Predilife
Stock Price History

Headquarters:

Villejuif, France

Founded in

2004

Number of Employees:

1-10

FemTech Subsector:

Women’s Cancers Treatment

FemTech Product:

Devices, Software

Predilife has developed MammoRisk, a personalised breast cancer
screening solution. By combining medical imaging (using PrediLife’s
proprietary DenSeeMammo software for measuring breast density) withBig Data and statistics, it provides its users with a polygenic risk scorebased on patient-related data and genetic proﬁle.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

ALPRE.PA

0.1%

0.92%

N/A

0.246

FemTechAnalytics
FemTechAnalytics

79

HeraMED
Stock Price History

Headquarters:

Netanya, Israel

Founded in2011

Number of Employees:

1-10

FemTech Subsector:

Pregnancy

FemTech Product:

Mobile App, Connected Device

HeraMED is a technology start-up developing innovative mHealthpregnancy monitoring solutions. The company has recently developed
a ﬁrst ever medical-grade, smartphone- based fetal wellness monitor
for home use.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

HMD.AX

0.17%

3%

N/A

0.246

FemTechAnalytics
FemTechAnalytics

80

Sutro Biopharma
Stock Price History

Headquarters:

San Francisco, United States

Founded in

2003

Number of Employees:

51-100FemTech Subsector:

Women’s Cancers Treatment

FemTech Product:

Pharm ProductSutro Biopharma is a clinical-stage drug discovery, development, andmanufacturing company that develops next-generation protein
therapeutics for cancer and autoimmune disorders. It achieves thisthrough its proprietary cell-free protein synthesis platform. It also
provides products used for the treatment of ovarian and endometrial
cancers.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

STRO

0.46%

3.8%

408%

0.91

FemTechAnalytics
FemTechAnalytics

81

Sensyne Health
Stock Price History

Headquarters:

Headington, United Kingdom

Founded in2018

Number of Employees:

101-250

FemTech Subsector:

Pregnancy

FemTech Product:

Mobile App

Developed by Sensyne Health, GDm-Health app is part of a system thathelps clinicians manage diabetes during pregnancy. The system
includes an app that wirelessly sends data from a blood glucose
monitor to a webapp dashboard. By using the web-app dashboard,clinicians can monitor blood glucose in real-time and proactively
manage their patients’ condition.

TickerMean Daily Return

Volatility of Daily Returns

Growth after IPO

Capitalization ($B)

SENS.L

0.45%

33.5%

4.86%

0.278

FemTechAnalytics
FemTechAnalytics82

Top FemTech
Inﬂuencers
2021 / Q2

www.femtech.health© 2021

List of Top 50 FemTech Inﬂuencers
Name

Role

Name

Role

Sophia Ononye-Onyia

CEO @SophiaFirm

Therese Mannheimer

CEO @GranceHealth

Marija Butkovic

CEO @Women_Wearables

Eirini Rapti

CEO @Inne

Holly Rockweiler

CEO @Madorra

Michelle Kennedy

Founder of Peanut

Cindy Gallop

CEO, MakeLoveNotPorn

Brittany Barreto

Co-founder of FemTech Focus

Estrella Jaramillo

Women's health advocate

Elina Berglund Scherwitzl

Co-founder of Natural Cycles

Rachel Braun Scherl

Author, Orgasmic LeadershipLea von Bidder

Co-founder and CEO @Ava

Gina Bartashi

CEO @KindBody

Alyssa Atkins

Founder of Lilia

Sophia Bendz

Angel investor

Billie Quinlan

Founder and CEO @Ferly

Jill Angelo

CEO @MyGennev

Aashima Gupta

Director of Global Healthcare Solutions

Bérénice MagistrettiAngel investor

Jordana Kier

Co-founder of Lola

Nuala Murphy

Women Health Advocate

Ann GarnierFounder of Lisa Health

Trish Costello

CEO @Portfolia

Kim Palmer

Co-founder of Clementine App

Source: Women of Wearables
FemTechAnalytics
FemTechAnalytics

84List of Top 50 FemTech Inﬂuencers
Name

Role

Name

Role

Nicole Leeds

CMO @Clue app

Tania Boler

CEO @Elvie

Liz Klinger

CEO @Lioness

Chia Chia Sun

CEO @Damiva

Ida TinCo-founder of Clue app

Laurence Fontinoy

CEO @Woom

Meika Hollender

Co-founder of Sustain

Jennifer Tye

COO @Glow

Aagya Mathur

Founder of Aavia

Sylvia Kang

Co-founder of Mira

Piraye Beim

Founder and CEO @Celmatix

Amy Domangue

Co-founder and CEO @Jessie

Ridhi Tariyal

CEO and co-founder of NextGen Jane

Mylene Yao

Co-founder and CEO @Univfy Inc.

Tanvi Johri

Co-Founder and CEO @Carmesi

Nicole Dahlstrom

Co-founder of FemTech Collective

Yanghee Paik

CEO and co-founder of Rael

Reenita Das

Author of the Rise of SHEconomy

Wan TsengFounder of Wisp

Debra DukeFounder and CEO of MenoGeniX

Saundra Pelletier

CEO @Evofem Bioscience

Cecile RealCEO @Endodiag

Flavia Wahl

CEO @iBreve

Amy McDonough

Strategy @Fitbit Health Solutions

Source: Women of Wearables
FemTechAnalytics
FemTechAnalytics

85

FemTech Inﬂuencers
Sophia Ononye-Onyia
Ms Ononye-Onyia is a founderand CEO of Sophia Consulting,a New York-based life sciencemarketingandcommunications consultancy
whose aim is to amplify
scientiﬁcinnovationinhealthcare.

Cindy Gallop
A
brand
and
businessinnovator, consultant, coach,and keynote speaker, Cindy
Galloppushesforagender-equal, diverse, andinclusive workplace. She also
strives for young women to be
more sex-educated.

FemTechAnalytics
FemTechAnalytics

Marija ButkovicAlawyer,entrepreneur,innovation consultant, andfeminist, Marija is a co-founderand CEO of Women of
Wearables, a global company
aiming to support and mentor
women.

Estrella Jaramillo
Ms Jaramillo has led the US
expansionofB-wom,awomen's
digitalhealthsolution. She’s also a FemTech
Contributor for Forbes where
she writes about women’s
health and gender equality.

Holly Rockweiler
Ms Rockweiler is a CEO andco-founder of Madorra, a
medicaldevicecompany
dedicatedtocreating
solutions improving the qualityof
women’slife
after
menopause.

Rachel Braun Scherl
Rachel is a reputed authority inleadership, entrepreneurshipand women’s health. She’s
also a fearless advocate andmarket-makerinthemultibillion-dollar
globalwomen’ssexualhealthmarketplace.

86

FemTech Inﬂuencers
Gina Bartashi

Sophia Bendz

Jill Angelo

In
2018,
Gina
launched
Kindbody, a project aimed at
substantially
increasing
women’s access to healthcare,
improving their experience andoutcomes and lowering costs.

An active angel investor,
Sophiaisparticularlyinterested in FemTech. Herangel investments include
Clue, Grace Health, Daye, O
School, and Boost Thyroid.

Being a CEO and founder ofGennev, Jill sees its mission inempowering women to takecontrol of their health. Herﬁrst-ever online clinic provides
them with access to freeeducation, menopause coaching, and wellness products.

Nuala Murphy

Trish CostelloBeing a women’s healthadvocate, Nuala is also afounder and CEO of Moment
Health, a technology company
with a groundbreaking digitalsolution for the prevention andtreatment of women’s mental
health problems.

Ms Costello is a founder and
CEO of Portfolia, venture funds
focusing on high-return areas,
including women's health,active aging, enterprise, AI,
consumers, food, AgeTech,
POC/Inclusion, and climate.

Bérénice Magistretti
A tech journalist that has gone
into VC investment. She writes
about "Tech That Matters,"
focusing on FemTech andaccessibility. Ms Magistretti is
also
passionate
about
women’s health, social impact,
and consumer products in the
fashion and beauty industries.
FemTechAnalytics
FemTechAnalytics

87

FemTech Inﬂuencers
Ida TinA co-founder and CEO of Clue,
the most trusted female healthapp. Clue enables women andpeople with menstrual cycles
to make good choices forthemselves and live their lives
to the fullest.

Therese Mannheimer
Ms Mannheimer is a founderand CEO of Grace Health, ahealth-tech company focusedon developing scalable anduser-friendly
healthcare
services to women online.

FemTechAnalytics
FemTechAnalytics

Nicole Leeds

Aagya Mathur

Nicole cares deeply about
better access to healthcare,andespeciallywomen'shealthcare. She is responsible
for Clue's newest feature: Clue
Birth Control, an FDA-approved
digital contraceptive.

Ms Mathur is a co-founder ofAavia, a start up that has
revolutionized a birth control
experience by creating the ﬁrst
ever smart Pill sleeve.

Eirini Rapti
Ms Rapti is a founder and CEO
of Inne, a company whose
mission is to help women ‘tune
into’ their bodies and makeinformed decisions about theirfertility, sexuality and overall
health.

Michelle Kennedy
Ms Kennedy is a founder of
Peanut app, a ﬁrst ever social
network enabling women at asimilar stage in life to connect
with one another. Peanut’s
mission is to provide a safe
space for women where they
can gain friends, ﬁnd support
and learn.
88

FemTech Inﬂuencers
Brittany Barreto

Elina Berglund Scherwitzl

A geneticist who has launcheda ﬁrst ever DNA-based dating
app (Pheramor). She’s also
advancing women’s health andwellness via FemTech Focus, a
podcast
with
over
100
episodes.

Dr. Scherwitzl is a CEO andco-founder of Natural Cycles,
the world’s ﬁrst and only app tobe certiﬁed as a contraceptionin Europe and the US. Her
mission is to use her researchand passion to improve
women’s health.

Alyssa Atkins

Billie Quinlan

Ms Atkins is a CEO andfounder of Lilia, a place forpeople with ovaries to get
guidance andcustomized
answers about egg freezing,easily & all in one place.

Ms Quinlan is one of theco-founders of Ferly, a project
aimed at improving sexual
wellbeing and driving radicaltransformation ofsociety’s
relationship with sex. Billie ispassionate about all things
related to women and theirwellbeing, as well as modern
technology.

FemTechAnalytics
FemTechAnalytics

Lea von Bidder
Ms Bidder is a co-founder andPresident of Ava Science, acompany that manufactures
sensorbracelets.
The
bracelets provide women withan easy and accurate way ofmonitoring their menstrual
cycle and identifying days
when they are fertile.

Aashima Gupta
Ms Gupta is a Director of
Global Healthcare Solutions at
Google Cloud. She sees her
mission in contributing to fast
digital transformation of thehealthcare industry via the useof Cloud, AI, APIs and mobile
solutions.

89

FemTech Inﬂuencers
Jordana KierAnn Garnier

Kim Palmer

Ms Kier is a co-founder of
LOLA, the ﬁrst lifelong brandfor a woman's body. She aims
toapproach
women’s
reproductive health through a
product and a community
supporting things that are not
not openly talked about.

Ms Garnier is a founder of Lisa
Health, a digital app for midlife
women which can help themnavigatethroughtheirmenopause and midlife healthchallenges.

Ms Palmer is a co-founder of
Clementine, a conﬁdence app
designed to help working
women battling anxiety andlow self-esteem to sleep betterand feel more conﬁdent.

Tania Boler

Sylvia Kang

Ms Boler is a co-founder and
CEO of Elvie, a company thatdeveloped Elvie Trainer, anaward-winning Kegel trainer fora stronger pelvic ﬂoor, andElvie Pump, the world’s ﬁrst
silent wearable breast pump.

Ms Kang is a co-founder and
CEO of Mira, a company that
produces palm-sized devices
tracking cycles, predicting andmonitoring
ovulation,measuring ovarian reserve,and detecting menopause.

Laurence Fontinoy
Ms Fontinoy is a CEO andco-founder of Woom, a data
sciencedrivenapp
forwomen’s and reproductive
health that enables women to
maximize their chances ofpregnancy.

FemTechAnalytics
FemTechAnalytics

90

FemTech Inﬂuencers
Liz Klinger

FemTechAnalytics
FemTechAnalytics

Meika Hollender

Piraye Beim

A co-founder and CEO of
Lioness, Ms Klinger is also a
co-inventor of the Lioness
Vibrator, the ﬁrst and only
vibrator that improves one’sorgasm.

Ms Hollender is a co-founderand President of Sustain, oneof the leading producers of
all-natural,vagina-friendly
sexualwellnessandreproductive health products.

Ms Beim is a founder and CEOof
CelmatixInc,apreclinical-stage
women’shealthbiotechcompany
focusing on ovarian biology
andaddressing areas ofunmet needs.

Ridhi Tariyal

Tanvi Johri

Yanghee Paik

Ms Tariyal is a CEO andco-founder of NextGen Jane, aprovide of genomics-based
personalized solutions helping
women track their health. The
company has also created atampon that monitors diseases
affecting fertility.

Ms Johri is a co-founder and
CEO of Carmesi, a women’s
hygiene company that offers
all natural and biodegradable
sanitary pads and panty liners.
She’s also an ardent advocate
of women’s healthcare.

Ms Paik is a co-founder and
CEO of Rael, a company thatempowers women to makehealthier choices for their skinand bodies through using
naturalpersonal
hygieneproducts which are available
all over the world.

91

FemTech Inﬂuencers
Wan Tseng

FemTechAnalytics
FemTechAnalytics

Saundra Pelletier

Ms Tseng is a FemTech
entrepreneur, designer andfounder of Wisp, a company
whose mission is to empower
women by unlocking theirsensuality through design andtechnology.

Ms Pelletier is a CEO of
EvofemBioscience,aclinical-stage
biopharmaceuticalcompany
developing innovative products
for treatment of women’s
sexualandreproductive
disorders.

Debra Duke

Cecile Real

Ms Duke is a founder,
President
and
CEO
of
MenoGeniX, a biotechnology
company focusing on treating
hot
ﬂashesandothermenopausal symptoms.

Ms Real is a CEO of Endodiag,a biotechnology company thatspecializes in the developmentof products and services
aimed at improving thediagnosis of endometriosis.

Flavia Wahl
Ms Wahl is an entrepreneur,
passionate yogi, FemTech
enthusiast, and CEO of iBreve,a company that has developed
a wearable device instantly
ﬁghting stress in a simple andnatural way.

Amy McDonough
Ms McDonough works at theStrategy&
Operations
Department of Fitbit Health
Solutions,acompany
developing highly engaging
and personalized healthcare
solutions, such as wearable
devices for self tracking,health coaching, and virtual
care.
92

FemTech Inﬂuencers
Chia Chia Sun

Jennifer Tye

A pharmaceutical businessexecutivewithextensive
research&development
experience, Ms Sun is now
CEO of Damiva, a women’s
healthcompany
manufacturing all-natural products
for menopausal health.

Ms Tye is a Chief OperatingOﬃcer at Glow, a company
developing personal healthsolutions that help people
manage their health better.
Glow has developed four apps
designed to monitor various
conditions in women, ranging
from periods to parenting.

Mylene Yao
Ms Yao is a co-founder and
CEO of Univfy Inc., a predictive
analytics company that uses
machine learning to help
women
accessinvitro
fertilization (IVF) treatments
and thus build healthy families.

FemTechAnalytics
FemTechAnalytics

Nicole Dahlstrom
Ms Dahlstrom is a co-founder
and
COO
of
FemTechCollective, a company thatoffers products and services tofemale-focusedhealthtechnology startups. With theirhelp, they can overcome
barriers to success andconnect communities.

Amy Domangue
Being an expert in women’s
healthcare marketing andinnovation, Ms Domangue isalso a CEO and co-founder ofJessie, an online platform thatstreamlines
accesstowomen’s
digitalhealthservices.

Reenita Das
A healthcare evangelist andstrategist, Ms Das was voted
one of the top 100 women in
Healthtech and FemTech.
She’s also an author of thebook called “The Rise of
SHEconomy:
FemaleEconomic Power”.

93Leading Laboratories
and R&D Centers
2021 / Q2

www.femtech.health© 2021

FemTech R&D Centers Regional Distribution
Leading Countries by R&D Centers,
2021

Distribution of FemTech R&Ds and Labs by Region, 2021

North America

Europe

49%

35%

Asia

16%

43.0%

6.7%

6.7%

6.7%

6.7%

Mainly located in North America (especially in the US), FemTech R&D centers there account for almost 50% of all R&D centers worldwide. Europe(and more speciﬁcally, Austria, Spain, Ukraine, France, and Hungary) has the second-largest concentration of FemTech R&D centers (35%), while
Asia (and more speciﬁcally, Turkey, India, Singapore and China) is the third (16%). Israel accounts for 6,7% of all FemTech R&D centers worldwide.

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FemTech R&D Centers
CanDiag
HQ: Orangeburg, New York, US

HQ: Vienna, Austria

HQ: Waxhaw, North Carolina, US

Founded by Julius Zecchino in March 2014,
BioMimetic
Laboratories
uses
biomimetic
technologies to transform natural anti-aging
solutions into skincare products.

BIRD-C (Biotech Innovation Research Development
and Consulting) is an R&D biotechnology company
with years of experience in the ﬁeld of treatment of
infectious diseases.
Using its BG platform
technology(Bacterial
GhostsCancerImmunotherapy or BGCI), it has recently launched its
own tumor treatment therapy.

Incorporated in November 2010, CanDiag, Inc.
operates under the auspices of the University ofNorth Carolina Charlotte (UNCC). The founders of
CanDiag are Dr. Pinku Mukherjee and Irwin Belk,
Endowed Professor for Cancer Research,. They holdan exclusive license to a patented tumor antibody
technology used to develop a blood test for early
detection of breast cancer.

HQ: Barcelona, Catalonia, Spain

HQ: New Orleans, Louisiana, US

HQ: Montclair, New Jersey, US

Barcelona-based Chemotargets company focusesonthedevelopmentofsmall
molecule
pharmaceuticals and cosmeceuticals. Founded in
2006, it’s a spin-off of Systems Pharmacology labthat operates under the auspices of the Hospital del
Mar Medical Research Institute (IMIM).

Founded in 1983, DEKK-TEC has used government
and private funding to effectively research anddevelop new therapies for the treatment of cancer,
pre-cancerous lesions, and women's health issues.

Regarded as a leading CRO in women’s health andreproductive endocrinology/infertility, DSP has
conducted 80% of all infertility studies in the US overthe past 14 years.

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FemTech R&D Centers

HQ: Blainville, Quebec, Canada

HQ: Almere, Flevoland, The Netherlands

HQ: Istanbul, Turkey

Duchesnay oﬃcially assumed its new mission withthe founding of the Louis-Boivin Family
Pharmaceutical Chair on Medications, Pregnancy
and Lactation at the Faculty of Pharmacy at the
Université de Montréal. Since then, it has devoted asigniﬁcant portion of its annual budget to funding
research into drugs used during pregnancy.

Emotional Brain is a scientiﬁc research company
engaged in the development (and implementation)of intelligent reasoning programs and medications
aimed at developing a personalized approach tohealthcare. It is the most authoritative R&D center
known for the development of two new “on demand”
medicines for Female Sexual Interest Arousal
Disorder (FSIAD).

Genz is a biotech R&D company developing novel
diagnostic solutions for complex diseases, such as
cancer and Covid-19. To date, Genz has received 4
R&D grants and approval of the Turkish Ministry of
Health for 3 genetic tests.

HQ: Denver, Colorado, US

HQ: San Jose, California, US

HQ: Salt Lake City, Utah, US

IMPACT Network is a nonproﬁt organization
improving marijuana policy and accelerating
cannabinoid therapeutics for women worldwide.
IMPACT Network will soon be launching its ﬁrst everlarge-scale clinical study into cannabis and women's
health.

Innovium claims “A breakthrough treatment inreversing menopause and restoring female fertility is
showing novel impacts on mitigating the effects of
the aging process.” Preliminary results indicate
improved follicle response, live births, pregnancy,
positive IVF, increased egg quality and quantity, andsubstantial improvement of overall physical health.

JBR Clinical Research has over 30 years ofexperience in pain management protocols, vaccine
testing and various other studies across phase I-IV. It
has two facilities located near Salt Lake City (Utah,
US).

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FemTech R&D Centers

HQ: Pittsburgh, Pennsylvania, US

HQ: Singapore, Central Region, Singapore

HQ: Pittsburgh, Pennsylvania, US

The Jewish Healthcare Foundation is a grantmaking
foundation with three operating arms: Pittsburgh
Regional Health Initiative (PRHI), Health Careers
Futures (HCF), and the Women's Health Activist
Movement Global (WHAMglobal).

Maccine is an established preclinical researchorganization providing innovative discovery supportand regulatory safety assessment services.
OMaccine has developed a portfolio of in vivo
assays in key therapeutic areas, including Neurology,
Psychiatry,
Metabolic
Disorders,Pain&
Inﬂammation, Oncology, Musculoskeletal Disorders,and Women’s Health.

The largest research institute in the U.S. dedicated to
women’s health and reproductive biology, HIVprotection. and therapies capable of preventing therecurrence of ovarian cancer.

HQ: Haifa, Israel

HQ: Chicago, Illinois, US

HQ: Houston, Texas, US

NanoPaz
Pharmaspecializes
inresearch,development, and testing of innovative treatments
and products improving women’s health. Founded iton June 1, 2010, Baram Paz is headquartered in
Haifa, Israel.

The OB/GYN Research laboratory is part of Sonya
Hanko Wyatt Molecular Biology Laboratory.
Established in 1989, OB/GYN Research at Cannon
Research Center aimed to investigate the molecularbasis and epidemiology of HPV in cervical cancer.
Since 1996, the laboratory has mainly focused on
Gynecologic Oncology.

Reproductive Research Technologies is a life
sciences company investing in and managing thedevelopment, production, and marketing of earlystage medical device technologies and IP related to
women’s healthcare. Founded in 2004, Reproductive
Research Technologies is headquartered in Houston.

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FemTech R&D Centers

HQ: Salt Lake City, Utah, US

HQ: New Delhi, India

HQ: Washington, District of Columbia, US

Taueret Laboratories focuses on clinical andresearch work in the ﬁeld of human infertility andgenetic conditions affecting women and children.
Performed at its CAP and CLIA facilities, it conducts
testing
with
the
help
of
state-of-the-art
instrumentation.

The Naz Foundation Trust, (or Naz India) is a New
Delhi-based Non-Governmental Organization (NGO)that has been dealing with HIV/AIDS and sexual
health issues since 1994.

The Society for Women’s Health Research (SWHR) is
a non-proﬁt organization dedicated to improving
women’s health through science, policy, andeducation. The SWHR is also a recognized leader in
research into sex differences.

HQ: Ann Arbor, Michigan, US

HQ: Kyiv, Ukraine

HQ: Terrassa, Catalonia, Spain

Based in Ann Arbor, Michigan, Therapeutic Systems
Research Laboratories (TSRL), Inc. is a private,
female-owned, pre-clinical accelerator that createscompanies
developing
infectious
diseasetherapeutics and improves existing drugs. Potential
indications include inﬂuenza, HSV, VZV, CMV, EBV,
poxvirus, HPV, Adenovirus, and RNA viruses.

The Ukrainian Institute for Sexology and Andrology
specializes in research and treatment into urology
and gynecology.

Created by scientists from Plant Biotechnology:
Production of Phytomedicines, Phyture Biotech
operates under the auspices of the Faculty of
Pharmacy at the University of Barcelona (Universitat
de Barcelona).

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FemTech R&D Centers

HQ: Boston, Massachusetts, US

HQ: Port Saint Lucie, Florida, US

HQ: New York, US

The Wyss Institute for Biologically Inspired
Engineering uses Nature's design principles todevelop bioinspired materials and devices that willtransform medicine and create a more sustainable
world.

VGTI Florida studies the human immune system, as
well as mechanisms responsible for our body’s
response to pathogens and cancer. It also develops
new vaccines and treatments for ﬁghting HIV/AIDS,
breast and ovarian cancer.

ARIUS Research, Inc., is a biotechnology company,
engaged in the development of antibody
therapeutics for breast, prostate, ovarian, colorectal,
pancreatic and lung cancers, leukemia, andmelanoma.

HQ: Limoges, Limousin, France

HQ: Innsbruck, Tirol, Austria

HQ: Beijing, Beijing, China

Oncomedics is a biotechnology company thatspecializes in personalized cancer treatment anddevelopment of a customized diagnosis system. It
also evaluates novel anti-tumor agents during
pre-clinical and clinical screening.

Founded in 2000, Vitateq Biotechnology GmbH
researches E-binding protein AFAMIN and explores
diagnostic and therapeutic applications of thisbiomarker in cancer and infertility, as well as
pregnancy complications, metabolic, cardiovascularand neurodegenerative diseases.

Jabrehoo focuses on clinical transformation andinnovative research and development in the ﬁeld ofassisted reproduction and genetics. It also provides
one-stop solutions for reproductive genetics.

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Top FemTech
Events and Conferences
2021 / Q2

www.femtech.health© 2021

Top FemTech Events in 2020

Women of
SextechVirtualConference

101 Best
Practicesfor
FemTechFemTechForum 2020

Boosting
Women
Founders

Wellness& Selfcare
Summit

May 2

May 27

June 25

July 27

September 4

The conference soughtto raise awareness anddemonstrate the impact
of COVID-19 on humansexuality. Participantsalso spoke about othertopics like IVF and PGTand how they could be
used to promote healthand wellness.

The session covered
user research practices
that can help FemTech
companies get to know
their users better. It also
covered the high-levelstrategy of developing auser research process
through cost-effective
methods.

The 1st global virtual
conference
about
FemTech that brought
together some of themost inspiring FemTech
founders, innovators, investors, and inﬂuencers.
They spoke on a wide
range of topics, including
fertility, sexual health,products for modern
women, and the gender
gap in medical research.

The panel discussed
obstacles for womenfounders seeking to get
funding, especially inhealthcaretech,wearables, and sextech.
Also covered was theroleoffemalecommunities
inproviding funds andsupporting
women
founders.

The Future of FemTech
Wellness & Self-Care
Summit was a one-day
event for leaders inwomen’s health whowanted to invest timeand energy into feelingtheir absolute best. The
event was designed tolift spirits, engage mind,
nourish body, and feed
the soul.

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Top FemTech Events in 2020

The Futureof
Women's
HealthWomen’s
HealthInnovation
SummitSex, Fertility &Contraception:
What’s Next?

The Most
Important Trends
in Women’s
HealthWhy
FemTech Is
Ready for
Innovation

September 10

September 14-22

October 28

November 5

December 8

Virtual panel discussion,
dedicated to the use oftechnology for women’s
health, innovations, andwhat the future holds forthe rising industry. Other
topics included fertility,
menstrual care, nursing
solutions,pregnancy,and sexual health.

This was a forum forpharm and medical
devicestartups,
companies,
investors,
doctors,andresearchers. Its goal
was to strengthen andadvanceresearch,
investment
andpartnerships for thesake of improving thequality of healthcare forwomen worldwide.

The event covered awide range of topics,
includingtheimportance of opening a
conversation about Sex,
fertility & contraception,
fundraisingandinvestment in sextech
and
FemTech,andinnovative products andsolutionspromotingfemale health.

Held as a round tablediscussion, the event
brought
together
women’s health medical
professionals. It was led
by Portfolia which ispioneering the next
wave of FemTech. Areasof innovation and new
products experiencing
rapid growth were also
discussed.

Moderated by Alice
Zheng,
leaderof
McKinsey’s knowledge
centeron
women’shealth, the event wasdedicatedtotheintersection of venture
capital and women’s
health. It also looked
into trends and opportunities in a previously
overlooked segment of
the health care.

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Top FemTech Events in 2021

HealthTech 2.0

2021
Women’s
HealthInnovation
Forum

OnlineConference“International
Women’s Day”

Advancing
HealthOutcomesfor Women
Brieﬁng

Fertility
Innovation
SummitJanuary 28

February - OctoberMarch 5

March 17

April 20

Health Tech 2.0 is a
globalvirtualevent
bringing together healthtech leaders, innovators,
founders,
inﬂuencers
and investors. It covers
a wide range of topics,
including AI, wearables,
emotional
health,women’s health, beauty
tech and a lot more.

A series of discussions
andpresentations
highlighting opportunities
forinvestmentin
research and innovationin the ﬁeld of women's
health.
These events help shed
lighton
innovative
solutions and address
unmet women’s needs.

The goal of the event
was to move beyond
discussionofchallenges within theindustry. Instead, thefocus was on upskillingand creating practicalsolutions capable ofmaking the growing
Women's
HealthTech
ecosystem a success ona global scale.

Springboard Enterpriseand Women’s HealthInnovation Coalition helda virtual brieﬁng on
biological and genetic
differences
impacting
women’shealth,underrepresentation of
women and minorities in
research,andinvestment
andinnovation that impact
women.

The
summitwasfocused on harnessing
innovation
throughpartnership, investment,
and collaboration. It also
aimed
to
improvewomen’s understanding
and control over theirreproductive
healththrough
education,
advancedclinicalresearch, and innovativetechnologies.

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Top FemTech Events in 2021

HealthTech
and
FemTechFemTechFundamentals

ETH Zurich
FemTechSummitTransforming
Women's
Health 2021

Women 40+
Innovation
SummitMay 19May 12-26

May 26-27

June 10-12

June 22WoW Members' Meet &Greet – HealthTech and
FemTechwasan
informal online meetup
duringwhich
HealthTech
and
FemTech professionals
could meet online, share
their experiences, ask
for help and connect
with like-minded people.

Expert series on all
things in FemTech andbusiness. The range of
topics including digitalmarketing, fundraising,
FDA regulations, andsales strategies havebeen
coveredwithspeciﬁc attention to theunique challenges aswell asopportunities
FemTech companies arefacing.

During the summit, itsparticipants have been
discussing a connection
between gender andeffective therapy, waysof bridging missing data
gaps,
innovative
screening,
symptom
tracking,
personalized
contraception, fertility,
and the future of pain.

Held as a livestream, theevent was focused on
enabling
healthcare
providers to improve careof female patients bypresenting
emerging
scientiﬁc and clinicalevidence
relatedtomedical conditions thatare unique to women,
occur more frequently in
womenor
manifest
themselves differently inwomen.

The event organized fortheleading
entrepreneurs,
practitioners,
andindustryleaders
committed to investinginbetterhealthsolutions and outcomesfor women after 40.

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Top FemTech Events in 2021

GlobalCongress on
Women’s
Health &Wellness

FemTechFundraising
Summit

Women’s
HealthInnovation
Summit

Women
HealthScienceand CareFemaleHealthEmpowerment

June 24-25

July 26-30

September 14-15

September 24-25

November 25

This event provides
expertswithanopportunity to share
their research ﬁndings
andadvancesin
Women’s Health andassociated ﬁelds. It also
covers the most relevant
topicsinwomen’shealthcare
andtechnology.

Seriesofeventsorganized to look into
different
fundraising
options for FemTech
startups.
VC,
angel
investing, and equity
crowdfunding
experts
will be holding practicalsessions and panel
discussions.

Being the FemTech
sector’s
leading
platform, it’s dedicatedto tackling unmet needs
andchampioning
innovative approaches
and solutions. The focus
is not on female-only
health challenges, but
alsoon
female-prevalentdiseases.

A two-day congressproviding obstetricians,
gynaecologists,
physicians,
surgeons,
oncologists,
andresearchers
withachance to meet one
another on a global
platform.

The goal of the event is
to discuss the role of
FemTech in female
healthempowerment.
Its participants will beholdingpractical
sessions designed to
track
empowerment
progressin women’s
healthcare.

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FemTech Market Trends
Overview
2021 / Q2

www.femtech.health© 2021

Key Market Trends
PERSONALIZATIONENDOMETRIOSISIN-HOME TESTINGMENOPAUSE

Currently, the FemTech Industry,includespersonalized
andfemale-oriented approaches tohealth & disease management,with a focus on heart health, pain
management, and diabetes andweight management.

Endometriosis is a health disorderthat affects one in every 10
women. Within the next several
years, the global market is
expected to reach $2.3 billion insize. That has already led to theemergenceof
numerous
endometriosis-focused startups.

Due to an increase in women’s
healthcare awareness, there is a
growing demand for early disease
detection. The development of
portable devices that can be usedat home, as well as software theanalysis of health indicators, is a
noticeable trend on the market.

Until recently, the menopause
solution market has remained
underdeveloped. However, as thenumber of women approaching
the age of menopause is steadily
increasing (due to the so-called
Silver Wave), it is beginning to
attract more attention.

FERTILIZATIONAI FOR FEMTECH

TRACKING APPS

WEARABLE DEVICES

Innovative FemTech technologies
have led to an increase in demandfor embryo scanning, egg storage,
and other forms of assisted
reproduction. A number ofstartups are currently entering thefertility market.

The application of AI is a
noticeable trend in a number of
FemTech sub-categories (e.g.
beauty for FemTech, diagnostics,
sexual and general healthcare,and fertility solutions).

Since Clue, the ﬁrst ever period
and ovulation tracker, became
available, there has been agrowing demand for various apps
dedicated to tracking menstrual
cycles, menopause, and different
stages of pregnancy.

By 2025, the device segment of
the FemTech market is expected
to reach 16%. Companies arefocusing on the development ofinnovative technologies, such asbreast pumps and pelvic ﬂoor
exercise devices.

Source: Media overview
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Key Market Trends: Reproductive Health
Global Fertility Services Market, 2018-2026
The global fertility services market is expected toalmost double by 2026, becoming a $41.4 billion
industry.
The biggest cause of the current trend is thatwomen are more likely to choose having a baby ata later age. The mean age of women giving birth
to their ﬁrst child was 29.4 years in 2019 inEurope.
A growing number of peoplе are also experiеncing
trouble conceiving, and therefore the market for
fertility services has continued to grow.
Latest technologies implemented:● In vitro fertilization (IVF)● Egg freezing● Blood-based hormon home tests● Saliva home test for ovulation.
Source: Forbes; Media overview
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Key Market Trends: Menopause Solutions

85% of women

1 billion of women

93% of menopausal womenare experiencing amenopause-related symptom

will be experiencing menopause by2025

are interested in non-invasive techsolutions

Menopause Solutions stands out as one of the most signiﬁcant trends in the FemTech Industry. There are a variety of treatments
currently available to relieve symptoms of menopause – from hot ﬂashes, night sweats, weight gain to insomnia – including
hormone replacement therapy and supplements. Menopause often accompanies other diseases; low levels of estrogen and otherchanges related to aging can raise your risk of heart disease, stroke, and osteoporosis. Many women are looking for alternative
digital solutions, as for now the most common treatment is still hormonal replacement therapy (HRT), which may cause side
effects.
Latest technologies implemented:● Wearables to manage the symptoms● Symptom tracking apps
● Telemedicine and digital therapeutics● Pharmtech for alternative therapy
Source: Media overview
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Key Market Trends: Wearables
Worldwide shipments of wearable devices reached $153.5 million in the fourth quarter of 2020 (Q4 2020), a year-over-year increase of
27.2%. The growing demand for direct-to-consumer devices in FemTech, such as wearables, is caused by the overall comfort andreduced side effects from their utilization. Smart wearable devices allow females to measure variable biomarkers and body
performance; track their monthly cycles, including ovulation and periods; and test their urine or breast milk.
The company Elvie offers pelvic ﬂoor muscle exercise programs to women who experience bladder control problems or want toimprove their pelvic health for better intimacy or faster postnatal recovery. The Elvie Trainer is an app-connected pebble-shapedpod.

One of the solutions for physical and mental wellbeing is various smartwatches and smart bracelets. The Bellabeat wellness
tracker can monitor health, ﬁtness, menstrual cycles, sleep patterns, meditation, and stress levels, and provide analyzed data andpersonalized content, helping women understand themselves better.

Among a number of devices helping women in their postpartum period and babycare startups are the different types of wearable
breast pump. For example, the Willow wearable breast pump ﬁts inside a woman’s brassiere, works with an app, and promises a
no-spill hands-free pumping experience.

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Key Market Trends: Tracking Apps

$3.9 Billion

Asia Paciﬁc

Key players

Women's health app market sizeby 2026

is expected to showcase the fastest
growth rate till 2026

in the tracking apps market are
Flo, Clue, and Eve

The trend of tracking apps has included the development of apps for tracking ovulation and periods, pregnancy, or menopause
symptoms; and apps for general physical or mental wellness and female disease management. All of these solutions are helping
women to better understand and take care of their bodies and their cycles. By tracking symptoms, they can identify irregularities andspot any potential concerns.
The menstrual health applications segment held the largest market share in 2020. Period apps are able to track ovulation andguide women who are trying to conceive or avoid pregnancy. Some widely known examples include Clue, Glow, Eve, Flo, Natural
Cycles, My Calendar, and many others. Other top companies in this space, such as Cora, provide subscription services to deliver
feminine hygiene products to customers’ doorstep.
One of the latest collaborations in this sphere was between Clue and Fitbit’s ionic sports watch. The joint project offers a ﬁrst-period
tracking app compatible with the Fitbit OS.
Source: Bloomberg, Media overview
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FemTech Companies Representing Market Trend
AI for FemTech

Fertilization

Haut.AI is an Estonian startup developing AI algorithms
for the recognition of skin pathologies. Theirdevelopments are based on the algorithms of computer
vision and machine learning, including deep learning.
Haut.AI helps users to build new skincare strategies andtransform and digitalize interactions between businessand customer. It also facilitates R&D.

Ivy Natal develops a process to create human egg cells
from skin samples as a treatment for most cases ofinfertility. Many women cannot have children except
through the use of donor eggs. Ivy Natal aims to allow
these patients to have biological children for the ﬁrst
time, using a process that starts with a simple skinbiopsy.

Web Site:haut.aiWeb Site:www.ivynatal.com

Category:

Beauty for FemTech

Category:

Fertility

Founded in:

2018Founded in:2020

Based in:

Tallinn, Estonia

Based in:

San Francisco, United States

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:

N/A

Total Funding Amount:$ 250 K

Investors

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FemTech Companies Representing Market Trend
Wearable Devices

Endometriosis
DotLab, a women’s healthcare technology company, islaunching DotEndo, a breakthrough, non-invasive, blood
test that aids in the diagnosis of active endometriosis.
DotEndo measures biomarkers in the blood, which act
as a unique signature to identify active endometriosis
across all stages of the disease, regardless ofhormones, cycle, or symptoms.

ALPHA FEMTECH is developing a wearable smart
clothing concept to reduce menstrual pain by using
micro-vibrations and regulating heat release to thebody. The goal is to connect the physical prototype tovarious digital platforms in the future to ﬁght menstrual
poverty.
Web Site:alphaFemTech.com

Web Site:www.dotlab.com

Category:

PeriodCategory:

Diagnostics

Founded in:

2020

Founded in:2016

Based in:

Budapest, Hungary

Based in:

San Francisco, United States

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 50 K

Total Funding Amount:$ 12.6 M

Investors

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FemTech Companies Representing Market Trend
Tracking Apps

In-Home Testing

Breathe ilo is the world’s ﬁrst fertility tracker that uses
breath analysis to identify a woman’s ovulation pattern
and fertile window. The breathe ilo is a small handheld
device synced to an app that reads the breath’s CO2
saturation to determine with considerable accuracy
where a woman is in her cycle.

Fig Health is a healthcare company that offers
direct-to-consumer at-home health screening andcoaching, as well as supplements for women. Fig
Healthenables
at-homebiomarker
testing,supercharging that with a community of fellow trackers.

Web Site:

http://.breatheilo.com/

Web Site:https://www.ﬁghealth.co/Category:

Fertility, Pregnancy

Category:

General Healthcare

Founded in:

2014Founded in:2020

Based in:Graz, Austria

Based in:

Singapore

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:$ 7.3 M

Total Funding Amount:

N/A

Investors

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FemTech Companies Representing Market Trend
Menopause Solutions

Personalization

MyMenopauseRx is a telemedicine company improving
the healthcare experience for women at midlife andmenopause. It provides women with improved accessto affordable menopause care, lab testing, education,and community. The company saves patients time andmoney without sacriﬁcing quality.

Hyivy Health creates an intelligent and holistic pelvic
rehabilitation device for the 1 in 3 women worldwide
who will experience a pelvic health complication in her
lifetime. The device provides the ﬁrst quantiﬁable data
set on the pelvic ﬂoor and three different therapies frommultiple sensors and mechanical functions.

Web Site:

http://www.mymenopauserx.com

Web Site:https://www.hyivy.com

Category:

Menopause Solution

Category:

Sexual Healthcare

Founded in:

2021

Founded in:2020

Based in:

Wheaton, United States

Based in:

Hamilton, Canada

Funding Status:

Early Stage Venture

Funding Status:

Early Stage Venture

Total Funding Amount:

N/A

Total Funding Amount:

N/A

Investors

N/A

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Key Factors in the Development of the FemTech Market
Accessibility

Favorable regulation

B2B partnership

Customization

Affordability

for women in developing
countries, with a view toincrease the customer
base.

from governmental
institutions throughsimpliﬁed policies andreimbursement.

with large public
hospitals, companies,
public health entities,
NGOs.

including customized
revenue models based on
the application of
FemTech solutions.

ensure that FemTechsolutions are available towomen at various income
levels.

As already mentioned, the FemTech market has great untapped growth opportunities. The above-presented factors will lead to the
fulﬁlment of market potential in the near future. Despite the market share having enormous potential, women represent only half ofthe planet’s population, and so far, the development of the FemTech market has occurred predominantly in the developed world.
That is why it is crucial to make FemTech products and solutions accessible and affordable.
At the same time, working-age women spend 29% more per capita on healthcare than men and are 75% more likely to use digital
tools for healthcare. Customized revenue models – for example, the renting of devices for a limited period of use – will stimulate
this trend. Since 2016, a number of government initiatives have been launched to support modern digital applications for thetreatment of conventional women’s health issues.

Source: Media overview, Frost & Sullivan articles
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Key Points
and Conclusion
2021 / Q2

www.femtech.health© 2021

Key Points
State of FemTech

Future Directions of Focus in FemTech

The market is developing
very fast and is expected to
grow at a CAGR of 15.6% by
2027>1,500 companies, 1,000
investors, and 30 labs andR&D centers

Reproductive Health willretain its leading position as
the most vital for women

Increase in the number ofmenopause-focusedcompanies as millenials are
maturing

In 2021, the funding ofcompanies in the FemTech
Longevity subsector
exceeds $3B that is about
20% in the entire industry

Progyny is the leading
publicly traded FemTech
company

AI usage trend in FemTech
companies for all
subsectors and producttypes

Companies will concentrate
more on developing
personalized solutions for
women’s health issues

North America is the largest
FemTech market across all
subsectors

Founders Fund is theleading investor in terms of
total funds raised

Women’s health will beconsidered more from a
psychological perspective

Accessibility andaffordability for lessdeveloped regions will be ofhigh importanceSource: Media overview
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Major FemTech Market Development Drivers
More comprehensive
understanding of women's health

Unmet needs in
FemTech Longevity

Destigmatization andthe power of community

Telehealth & digital
therapeutics

The fact that the total addressable market (TAM) for FemTech is over half of the world's population shows that it has an extremely
high market development potential. On the other hand, women's health has been under-researched for decades. Today, more andmore research, new technologies, and development is being dedicated to female healthcare.
The growth of FemTech Longevity may partly be the result of the increasing gap between female healthspan and women’s rising
lifespans. The number of years spent suffering from age-related diseases is also higher than men have. This creates an unmet needfor products and services aiming to maximize female healthspan that the rising FemTech Longevity sector is striving to fulﬁll.
The paradigm shift we are observing is helping the industry to thrive, and provides the basis for its future growth. Issues
surrounding female health are becoming less stigmatized. Society is now ready to discuss topics related to periods, female sexual
healthcare, and menopause.
The growing presence of telehealth is allowing greater accessibility for women to healthcare services at different stages of life.
According to the latest research, working-age women are 75% more likely to use digital tools for health than men. This trend is well
reﬂected in the FemTech Industry.

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FemTech Future Prospects
Currently, the vast majority of FemTech companies are focusing on the Fertility and Pregnancy space; however, that’s likely to change
within the next decade. It is also expected that new and promising areas, such as Longevity, menopause, SexTech, therapy andbreastfeeding will be experiencing rapid growth.
Here are the factors that can help determine the direction in which the industry will be headed.
● By 2025, 1.1 billion women are expected to be
postmenopausal. Currently, only 5% of startups areproviding menopause solutions.
● The service segment is expected to expand. FemTech
companies that provide services, will beneﬁt from thisglobal trend and are likely to increase in number.
● Emerging global economies will also speed up the spreadof smart medical devices and wearables, including
FemTech devices.
● DNA testing helping women determine the likelihood ofbreast and cervical cancer and other genetic diseases will
be increasingly available.

FemTechAnalytics
FemTechAnalytics$892M
Menopause Solutions
Market by 2025

North America

Digitization
Key Market Driver$41B

Most Promising Region

Global Fertility Market
by 2026$28T

Telehealth

Women Consumer
Spending in 2025

Key Trend in Services
Segment

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Conclusion
FemTech refers to a broad spectrum of digital technologies dedicated to the improvement of women’s health and wellbeing. Its main
goal is to satisfy unmet needs of women and develop technological solutions for Longevity, pregnancy and nursing care, women's
sexual wellness, reproductive system healthcare, menopause solutions, female oncology, and general healthcare. The FemTech
market includes wearable and clinical devices, diagnostic appliances, products, platforms, software, apps, or services.

In recent years, the FemTech Industry has revolutionized perception of women’s healthcare and its importance. There has been an
increase in R&D in previously unexplored areas, such as menopause solutions, tracking apps, sexual healthcare, mental health. Also,
the number of companies using AI is growing and will continue to grow in the upcoming years.

The main problem of the FemTech Industry is the lack of funding. Only 4% of R&D expenditure is directed toward women’s health. At
the same time, people in developing countries, especially in those of them where women dominate, have little access tosmartphones and new technologies. And that, in turn, results in poor quality of healthcare services.

Increasingly more investors have been turning their sights toward women’s health startups recently. Also, a large number ofconferences and events dedicated to topics concerning women have been initiated. This has resulted in much higher awareness of
the industry and increased investment. Positive externality is a direct result of the development of the FemTech Industry: women are
becoming more accepted, with their problems and desires being paid more attention to.

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FemTech Analytics
Big Data Analytics to Advance Women's HealthBeing a leading strategic and analytical intelligence agency, FemTech Analytics isfocusing on the relatively ‘young’ FemTech market and its core subsectors, such as Longevity for women,
Mental Health & Healthy Lifestyle, Reproductive Health, and General Healthcare.

COMING SOON

FemTechAnalytics
FemTechAnalytics

Website: www.femtech.health123

FemTech Analytics: Value Proposition
FemTech Analytics’s activities include research and integral analysis of potentially lucrative sectors of the FemTech Industry, proﬁlingof companies and government agencies based on their innovation potential and business activity, and providing consulting andanalytical services for the advancement of the FemTech sector.

FemTech Analytics main activities include:
Multiclient Analytical Reports

Interactive Mindmaps

FemTech IT Platform

Preparing open access studies focused on
global FemTech landscape for multiple
customers.

Providing a framework for a better
understanding of FemTech, including
personalities, companies, investors, R&D
centers, and interconnections between
market players.

Providing up-to-date information onmarket trends, drivers, players, leaders,state of investment environment, andopportunities and projections.

2019
FemTechAnalytics
FemTechAnalytics

2021
Website: www.femtech.health124

Disclaimer
The data and opinions contained in this report were prepared by FemTech Analytics (FTA). FTA believes that the information
presented herein is trustworthy; however, FTA cannot vouch for the accuracy or completeness of such information. Nor can it
guarantee that the views and opinions expressed in this communication will come to pass. FTA may provide, may haveprovided or may seek to provide advisory services to one or more companies mentioned herein. In addition, employees of FTA
may have purchased or may purchase securities in one or more companies mentioned in this report. Opinions, estimates andanalyses in this report constitute the current judgment of the author as of the date of this report. They do not necessarily
reﬂect the opinions of FemTech Analytics and are subject to change without notice. FemTech Analytics has no obligation to
update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any
opinion, estimate, forecast or analysis set forth herein, changes or subsequently becomes inaccurate. This report is provided
for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any
ﬁnancial instruments or to participate in any particular trading strategy in any jurisdiction.

www.femtech.healthinfo@femtech.health© 2021