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This is what the US$72m women’s health fund would mean for the future of femtech

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Maria Velissaris, SteelSky Venture

As SteelSky Ventures raises the world’s largest women’s health VC fund, Femtech World asks founding partner Maria Velissaris how this could unlock new growth opportunities.

In a world where Covid has catalysed telemedicine and digital healthcare, investment in technology infrastructure is needed more than ever.

The close of a US$72m fund makes SteelSky the world’s largest venture capital fund focused on women’s healthcare. The fund aims to invest across the whole spectrum of women’s health, including in terms of medical devices, consumer health, digital health, ePharmacy and retail therapeutics.

“We are really excited about it,” says Maria Velissaris, founding partner and advocate for female founders and women’s health. “We’ve invested in 13 companies, and we plan to invest in about 25 companies out of this first fund.

“We have a lot of investors aligned to make our companies successful – from payers and pharmaceutical companies to strategic investors and hospital systems – and this is one of the reasons why they choose to work with us.”

Covid has dramatically accelerated the transition to digital healthcare and determined, implicitly, a rise in medical advances.

Velissaris says: “The future came very fast and what we thought was going to take the next five to seven years happened overnight. Telemedicine had been around for a long time, but we started to use remote monitoring tools during the pandemic because that was the only way to receive healthcare at the time.

“That gave us a lot of momentum and a lot of opportunity for more digital health tools to pop up more engagement with telemedicine. It also gave people the ability  to be open to using digital health tools in ways that they weren’t prior to the pandemic.”

With more financial independence and an increasing number of women graduating from stem programmes in science, technology, engineering and maths, she believes that we will continue to see innovation through development of new ways to deliver care, new products and services.

“This is going to create a complete paradigm shift of what we will start to see in the market and what gets funded,” the founding partner adds.

A lack of investment alongside a general sense of scepticism were still dominating the femtech sector when Velissaris started investing in 2017.

“People didn’t even believe us how dismal the investment was, because they weren’t even tracking it,” she says. “That’s how little it was.

“Now that we’re tracking it, we can see disparities in investment and in health outcomes and we can see a racial disparity there. Data allows us to bring those [issues] to the light and come up with solutions to fix them.”

Research is another important factor in creating actionable insights and shaping a better understanding of the market and where money is needed.

“I do believe that there’s a lot of weight on our shoulders,” Velissaris points out.

“Because we’re growing this new category, we have to come up with the data, we have to fund the company and we have to change healthcare policies. There’s just so much that we still need to do and it’s a lot bigger than just writing a check.”

Although support from celebrities such as Gwyneth Paltrow has raised visibility for this sector, recent reports have shown that femtech funding lags behind. From a digital health investment of over US$14bn dollars in 2020, femtech made up only US$254m of this.

“Even though  we’re talking about it more broadly, the sector is still overlooked.

“We need investment that can grow because if women’s health companies become successful, then more people will start investing in women’s healthcare. This cycle will essentially drive itself and will attract more investment, get more exits and create a multibillion-dollar segment like the other ones [in the health industry].”

The US$72m fund is just the start of what SteelSky aims to change. Velissaris says that the next step would be a US$100m fund towards the end of the year.

“There’s no shortage of great women’s health companies in the pipeline. We constantly see so many great companies and we want to have the money to continue to fund them.

“We’re also really interested in looking at what healthcare looks like for women over 40 because there are a lot of things that come along with being a woman and at that point, you’re basically pushed out of the healthcare system. But there are still so many needs that women have and we really think there’s a lot of opportunity in solutions for women of that age.”

Find out more about SteelSky Ventures here.

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Empowering women’s health with music

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By Con Raso, managing director, Tuned Global

Music and movement are neurologically intertwined. Tempo influences pace, rhythm supports endurance, and familiar tracks can reduce perceived exertion.

Beyond physiology, music creates shared moments. It sets the atmosphere, builds anticipation and turns individual activity into collective experience.

For sports, wellness and fitness brands, this means music selection needs to align with brand values, customer experiences and emotional outcomes.

Well-chosen music increases workout intensity and duration, improves customer retention, strengthens brand recognition, creates community and cultural relevance, and opens new partnership models.

When delivered through properly licensed, data-informed systems, these outcomes become measurable and scalable.

Music also gives brands a way to stay culturally connected to their audience. The question for operators is how to use music strategically and legally.

This is especially important because the way brands approach music has changed significantly.

Early adoption in wellness, fitness and leisure centres often meant plugging in a Spotify playlist and hoping for the best.

Today’s leading sports and fitness innovators are far more sophisticated, curating music experiences that are brand-led, data-informed, tailored to specific audiences and workouts and fully licensed for commercial use.

This shift is being powered by specialist music technology platforms like Tuned Global, which works behind the scenes with brands to manage licensing, catalogue access, analytics and distribution at scale.

Rather than forcing sports brands to become music experts, these platforms allow them to offer legally compliant music in commercial environments, control curation across locations or content formats, and adapt music to different activities and intensities.

Through advanced APIs and centralised cloud infrastructure, operators can manage licensing, catalogue access and music governance at scale, while maintaining full creative control.

They also provide the reporting required by rights holders and integrate music into apps, devices, wearables and connected platforms. The result is music that feels intentional, on-brand and deeply embedded in the experience.

Music in action

Lululemon Studio and Mirror: At-home Fitness and Health

When Lululemon acquired Mirror, it marked a shift towards fully connected, at-home fitness where content, coaching and atmosphere converge.

Music plays a key role in making those workouts feel immersive and motivating, especially without a physical studio or shared space.

Instructors needed access to curated, commercially licensed music delivered consistently across live and on-demand workouts, while remaining compliant with music rights regulations.

Tuned Global provided Lululemon Studio with a branded playlisting app solution that enabled instructors to curate fully licensed music tailored to each workout.

Drawing from a licensed commercial catalogue and supported by usage reporting to rights holders, the system ensured compliance while giving instructors the flexibility to design high-energy, brand-aligned sessions.

The result was a seamless blend of movement, coaching and sound that makes digital workouts feel immersive and premium.

Psycle London: Performance Led Experiences

                     Con Raso

Boutique fitness studio Psycle London has built a loyal following by transforming workouts into performance-led experiences where music is central to the brand.

Each class is choreographed to sound, with instructors designing sessions that build emotional peaks and sustained intensity.

As Psycle expanded its digital and on-demand offering, it needed a way to give more than 70 instructors access to fully licensed commercial music while protecting the business from legal and reputational risk.

Tuned Global delivered a branded playlisting app that enabled Psycle’s instructors to search a cleared commercial catalogue by artist, genre or BPM, preview full tracks and build tailored playlists for classes ranging from high-intensity rides to strength and conditioning.

Behind the scenes, the music is delivered through secure API infrastructure integrated into Psycle’s own platform, with automated reporting to rights holders and support across label and publishing negotiations.

By combining creative flexibility with licensing governance, Psycle were able to scale its music-led experience across studio and digital environments without compromising on brand integrity, compliance or operational control.

Steezy: Movement and Music

Steezy, one of the world’s leading online dance platforms, sits at the intersection of sport, movement and music.

For dancers, music is not background sound. It defines timing, style and expression.

As Steezy scaled internationally, music became both its greatest asset and its biggest operational challenge. Delivering classes built around commercial tracks created both operational complexity and significant licensing risk.

Tuned Global provided the licensed music catalogue delivery infrastructure that enabled Steezy instructors to search a cleared catalogue, curate playlists tailored to specific classes, and prepare sessions using full commercial tracks.

The system ensured that music used across Steezy’s app and desktop platform was properly licensed and reported to rights holders, supporting global expansion without exposing the business or its creators to legal liability.

By combining instructor-friendly tooling with robust licensing governance, Steezy was able to continue growing its international dance community while keeping music at the centre of the experience.

A wider wellness ecosystem

For wellness, sports, fitness and leisure operators considering deeper music integration, a few principles stand out.

First, treat music as a product feature. It should support the outcome you want, whether that is higher intensity, calm recovery, emotional connection or brand recognition.

Second, get licensing right from day one. Using consumer streaming services in commercial environments exposes brands to legal and reputational risk.

For example, In 2019, more than 20 music publishing groups filed a $150 million copyright lawsuit against Peloton, alleging the company used more than 1000 unlicensed songs in its workout videos.

In another example, just last year the Federal Circuit and Family Court of Australia ordered a Sydney gym chain owner and five of his companies to pay more than $235,000 in damages and interest after operating multiple locations without a valid OneMusic licence.

Third, give creators freedom while maintaining brand control. Instructors, coaches and athletes bring personality, so give them tools to curate music safely within brand guidelines.

Last but not least, use data to refine the experience.

Track how music impacts engagement, completion rates and retention, because music is measurable. Finally, think cross-platform.

Your music strategy should work across physical venues, mobile apps, connected devices and on-demand content. Consistency builds trust.

What’s ahead for music as a performance tool

Music in wellness will become even more adaptive. As AI, biofeedback and real-time analytics become more embedded in fitness technology, music will increasingly respond dynamically to heart rate, pace or emotional state.

Early implementations in health and performance environments are already demonstrating how adaptive music can optimise outcomes.

As wearable technology and connected fitness continue to evolve, music will play an increasingly central role in shaping personalised experiences.

The infrastructure choices operators make now will determine how easily they can adopt these capabilities later. Those who invest early in licensed, data-informed music systems will be best placed to innovate without risk.

Music is a performance tool, a brand asset and a powerful lever for engagement. The examples above show that this applies at every scale, from a single boutique studio to a global combat sports brand.

The most successful innovators understand that when music and movement align, something special happens. With the right technology and licensing in place, that can scale.

About Con Raso, Managing Director of Tuned Global

Con Raso is an entrepreneur passionate about innovation, new technologies, and start-ups.

Over the last few decades he has focused on creating innovative mobile and online distribution models within the B2C entertainment market, enabling brands to utilise music as a marketing tool, via unique customer engagement strategies.

Being inherently well-versed in both technology and music, Con ensures our solutions are aesthetically pleasing, engaging and disruptive.

About Tuned Global

Tuned Global is the leading data-driven Cloud Music Platform that empowers businesses to integrate commercial music into their apps or launch complete streaming experiences using advanced APIs, real-time analytics, licensing solutions, music intelligence and customisable white-label apps.

Our turnkey solutions for music, audio, and video, coupled with a broad ecosystem of third-party music tech integrations, make us the most comprehensive platform for powering digital music projects.

We streamline complexities in licensing, rights management, content delivery and music discovery, enabling rapid innovation and bringing new ideas to life.

Since 2011, we’ve supported 40+ companies in 70+ countries — across telecom, fitness, media, aviation, and more — to deliver innovative music experiences faster and more cost-effectively.

For more information, visit www.tunedglobal.com.

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Tackling systemic gaps in women’s healthcare

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To mark International Women’s Day, Women’s HealthX released a new eBook exploring one of the biggest challenges in healthcare today: the sex difference data gap.

Women’s HealthX spoke with leading voices from Mass General Brigham, NYC Health + Hospitals, GSD Health Research and WomanCentered to explore how the healthcare industry can close the sex difference data gap and build a more equitable healthcare system for women.

In this special interview series, they share recommendations for the industry to ensure women are properly represented in research, data, and care.

What you’ll gain from reading this eBook:

• Ways we can work towards closing the sex difference data gap in healthcare research

• The biggest barriers preventing women from accessing equitable care

• The innovations that could transform women’s health in the next decade

• How digital health can expand access to care

• What meaningful allyship looks like in healthcare leadership

• How women can advocate for their health in clinical settings

• The changes experts believe the healthcare industry must make now

Register for the event to download the eBook for free here.

Registration is free for all our end users in pharma and biotech, hospitals, insurers, enterprises and policy makers.

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Study reveals how oestrogen protects women from high blood pressure

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Oestrogen helps protect premenopausal women from hypertension by relaxing and widening blood vessels, according to new research examining why women develop high blood pressure less often before menopause.

High blood pressure, also known as hypertension, affects more than a billion people worldwide and is a leading cause of heart disease and stroke.

Premenopausal women are less likely to develop the condition than men or postmenopausal women, but the biological reason has been unclear.

Researchers used a mathematical model of the cardiovascular and kidney systems to analyse how oestrogen influences blood pressure.

The analysis found that oestrogen’s strongest protective effect comes from vasodilation, the process by which blood vessels relax and widen, helping blood flow more easily and lowering pressure in the arteries.

Anita Layton, Canada 150 Research Chair Laureate in Mathematical Biology and Medicine and professor of applied mathematics, said: “Oestrogen is often thought of only in terms of reproductive health, but it plays a much broader role in how the body functions.

“It affects how blood vessels respond, how the kidneys regulate fluids and how different systems communicate with one another.

“What we found is that its impact on blood vessels is especially important for regulating blood pressure.”

The findings may also have implications for treating women after menopause, when oestrogen levels naturally decline.

The model predicted that angiotensin receptor blockers, a common class of blood pressure drugs, could be more effective than another widely used treatment group known as angiotensin converting enzyme inhibitors in treating women with hypertension, even after oestrogen levels decline after menopause.

Layton said her team has spent years developing a mathematical model of women’s kidneys and the cardiovascular system, designed to explore how different biological mechanisms affect blood pressure.

The model allows researchers to test individual effects separately and examine how each influences the body.

“We can turn on one effect, then another, and see exactly how each one affects the body,” Layton said.

She added: “For too long, women’s health, especially older women’s health, has been overlooked by medicine.

“Understanding how age and sex affect the body and, therefore, treatment, is an equity issue.”

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