Insight
Short-term bets, long-term needs: Rethinking investment in women’s health

Short-term bets, long-term needs: Rethinking investment in women’s health
By Morgan Rose, CNM, WHNP-BC, IBCLC | Chief Science Officer, Ema
Most investors treat women’s health as a series of disconnected markets. One fund backs cycle tracking. Another backs a postpartum platform. A third takes a bet on menopause.
While women experience distinct life stages, they progress through them in a continuous and interconnected way. A fertility journey may follow years of hormonal birth control.
Postpartum mental health may trigger a return of PMDD. Perimenopause may intensify autoimmune symptoms that a woman’s been tracking since adolescence. It’s all one story.
The system just isn’t built to integrate it.
This is how women end up using three separate apps with three different symptom logs, none of which communicate with each other. They repeat themselves to the system over and over.
Their data is siloed. Their emotional context is lost. Their trust in digital health wears thin.
And that’s more than a user experience problem; it’s a clinical one. Tech built and funded to support women must be designed with that reality in mind.
At Ema, we built the first agentic AI layer, purpose-built for women’s health, designed to understand her history, hormonal shifts, emotional context, and clinical risk in real-time.
It’s more than conversation. It’s care that connects.
Our AI supports users across fertility, postpartum, and menopause, treating these life stages as interconnected rather than isolated experiences.
But the real value lies in backing AI that connects, adapts, and scales with her across life stages, from puberty to postmenopause.
And we’ve raised over $3M from investors like Emmeline Ventures, Kubera Venture Capital, Hearst Labs, Acumen America, and Techstars to prove there is an investor market for longitudinal and connected care.
Why AI Is Not Just Another Point Solution
The opportunity lies in building AI that carries memory, recognises emotional and hormonal patterns, and supports women through years of shifting health needs, not just to accelerate answers, but to sustain care and improve health outcomes.
Women don’t need 10 tools for 10 life stages. They need one layer of intelligence that knows their history and evolves with them.
That requires AI trained on longitudinal, women-centered data.
It means remembering the postpartum depression that followed a second child, the cycle shifts after an IUD change, and the miscarriage before a new fertility journey.
Naseem Sayani is Director of the Innovator’s Circle at Women’s Health Access Matters, Operating Advisor at How Women Invest, and Advisor at Tower Capital.
She said: “The opportunity at the intersection of women’s health and AI is not just about smarter in-the-moment insights – we’re talking about more advanced everyday care, and an industry wide transformation from anecdote-based care to actual data-based care.
“Small models will become more important than large models, and with higher investment in these innovations, we can enable a Black mom in California avoid preeclampsia; a South Asian teenage girl in New Jersey understand her culture’s predisposition for endometriosis; and a Caucasian woman in Missouri chose birth control that helps her avoid her family’s history of cardiac disease.
“This interconnected healthcare transformation is at our fingertips.”
Investing in AI for women’s health is how we finally build continuity into a system that’s been fractured for too long.
The Silo Problem: Funding Symptoms, Not Systems
AI in healthcare is booming. The market is projected to hit $431 billion by 2032, driven by LLMs, workflow automation, and AI-first platforms.
Meanwhile, investment in women’s health hit a record $2.6 billion in 2024, and up to $10.7 billion when you include conditions that disproportionately affect women, from autoimmune disease to chronic fatigue.
So why is so little capital flowing to the intersection of AI and women’s health?
Because most AI funders still look for large, generalisable models. And most women’s health funders are still thinking in point solutions.
Very few are investing in vertically integrated AI designed to understand complex, longitudinal, and emotionally nuanced care.
The short-term thinking that drives product silos also shapes where capital flows. Investors back tools that solve for isolated needs, in isolated moments, without asking how those tools will connect, carry forward context, or scale with a woman’s life.
And nowhere is that pattern more evident than in the current landscape of AI investment.
A Call to Investors
If you’re funding the next wave of women’s health innovation, ask what it’s built on.
If the product doesn’t carry memory, adapt to complexity, or unify care across her lifespan, then it’s not future-proof. Let others chase features. Let’s build the foundation they’ll all need to run on.
Ema is raising now. Let’s talk if you’re ready to build what lasts.
Mental health
Women with birth trauma face 2.5x higher healthcare costs – study

Women with childbirth-related PTSD had healthcare costs 2.5 times higher than women without PTSD from six to 12 months after birth, a report found.
The analysis estimated that early prevention of traumatic births and childbirth-related post-traumatic stress disorder (PTSD) could save the NHS around £26m each year.
Women with PTSD were also less likely to have returned to work by 12 months after giving birth, suggesting potential longer-term employment and economic effects.
The report from City St George’s, University of London was launched at an All-Party Parliamentary Group (APPG) on Birth Trauma event on 10 September 2026.
Researchers calculated the potential NHS savings using the number of births reported in NHS hospitals in 2024-25 and the UK prevalence of childbirth-related PTSD.
Around one in 20 women in the UK develop PTSD following childbirth, while recent research has shown that the condition remains underdiagnosed.
The findings draw on research that tracked more than 2,000 women in England and Scotland from pregnancy to two years after birth. Researchers assessed mental health, use of health services and employment outcomes.
The research included assessments of childbirth-related PTSD and PTSD arising from other traumatic experiences. It also included a separate Birth Trauma Association survey examining women’s experiences of birth trauma.
Between six and 12 months after birth, healthcare and support service costs for women with childbirth-related PTSD were 2.5 times those of women without PTSD.
Women with low or moderate symptoms, including those reporting one or two PTSD symptoms, also had higher healthcare service costs than women without PTSD.
Just over half, 53 per cent, of women with PTSD had returned to work by 12 months after giving birth, compared with 68 per cent of women without symptoms.
Women with PTSD were more likely to be referred for mental health support, but more than half received no referral.
Those whose PTSD followed a traumatic birth also had slightly higher healthcare costs than women whose PTSD resulted from other traumatic experiences.
The researchers called for routine PTSD assessment and treatment during pregnancy and after childbirth, alongside greater access to specialist perinatal mental health services.
They also recommended training healthcare staff in perinatal trauma, trauma-informed care and identifying women at risk of PTSD.
The report said further research was needed to establish whether screening, treatments and trauma-informed care pathways are effective and evidence based.
The work follows the APPG’s 2024 Birth Trauma Inquiry, which highlighted the effects of birth trauma on women and families and called for evidence on its wider public health and societal costs.
The report focused primarily on healthcare use and did not attempt to calculate all costs associated with birth trauma and postnatal PTSD, including wider employment, family and societal effects.
Insight
UK reviews surrogacy firm over rejected insurance claims

The UK government is reviewing a surrogacy firm after complaints that medical insurance claims involving surrogates in Mexico were rejected.
The Department of Health and Social Care (DHSC) is considering whether UK-based provider My Surrogacy Journey should remain listed on gov.uk as one of four domestic surrogacy agencies available to intended parents.
The review follows allegations concerning its Mexican sister company, where surrogates are based.
Health minister Diana Johnson said: “The department is looking into the allegations about My Surrogacy Journey.
“As part of that assessment, the department will consider whether it is appropriate for that company to remain on the gov.uk list of agencies.”
Emails sent by My Surrogacy Journey chief executive Michael Johnson-Ellis and seen by the Guardian suggest multiple surrogate women in Mexico had their insurance claims rejected.
The emails also suggest 300 couples using the company were moved to a new insurance provider because of the increased risk of claims being rejected.
Commercial surrogacy is banned in the UK, where only altruistic arrangements are permitted.
My Surrogacy Journey operates a not-for-profit UK branch alongside for-profit sister companies in Mexico and the US. All three companies have the same owners and chief executives.
The reported insurance issues relate to surrogacy arrangements in Mexico.
One couple told the Guardian they paid tens of thousands of pounds to cover medical costs after their surrogate had a hysterectomy during childbirth and an insurance claim was refused.
The Guardian said it understood that at least five sets of parents said they had to cover medical costs after insurance claims were rejected.
In an email to the couple whose surrogate underwent a hysterectomy, Johnson-Ellis wrote: “We have already told you that the insurance companies have been declining some of the claims and we are actively working with the broker to get this issue resolved but you should also consider that they may not be paid out and there is nothing we are able to do to change this …
“We appreciate this is not an insignificant sum but this genuinely is out of our control.”
Johnson-Ellis also said the company had switched insurance providers, writing: “We’re also managing this for 300 other journeys, which is a complex position to be in.”
Lawyers acting for My Surrogacy Journey said the company did not comment on individual cases, but that existing insurance policies were in place and claims continued to be accepted and processed.
They said the company understood that a small number of claims had been rejected and was supporting people seeking to resolve those claims with an insurer.
Under the surrogacy arrangements, intended parents are understood to be contractually required to cover medical costs not paid by an insurer.
The couple said they had been recommended the company’s Mexico option. Its website advertises that intended parents using the route can have a baby in “under 18 months”.
They said they were told the UK route could take up to five years and that the US option was much more expensive.
Lawyers for My Surrogacy Journey said prospective parents are given information about typical timelines, costs, legal frameworks and practical considerations, and that the 18-month timeframe is indicative only.
The couple said their surrogate developed placenta accreta, a serious condition in which the placenta attaches to the wall of the uterus.
Emails from Johnson-Ellis acknowledged that the insurance provider investigated the birth after the surrogate experienced health complications.
The parents are considering legal action, while the Guardian said it understood at least four other couples were reviewing their options.
Phil Brickell, MP for Bolton West, raised concerns in parliament about a separate couple who had used My Surrogacy Journey.
He said: “Two of my constituents recently travelled to Mexico, where their children were born by surrogacy.
“Those births were facilitated by a company called My Surrogacy Journey, which is listed on gov.uk.
“While in Mexico, they had repeated traumatic experiences with the company relating to issues including insurance for their children, accusations of bullying towards staff and repeated efforts to silence any constructive criticism.
“I understand that other members of this house have received similar complaints.”
Brickell called for My Surrogacy Journey to be removed from gov.uk pending a review by the Human Fertilisation and Embryology Authority.
Lawyers acting for My Surrogacy Journey said the company was communicating with DHSC and was confident any issues could be resolved.
Insight
Research uncovers potential new target for breast cancer therapy

Targeting CD1d altered immune cells slowed tumour growth and improved immunotherapy responses in mouse models of breast cancer, researchers found.
The findings suggest blocking the molecule could make the environment around breast tumours more favourable to anti-cancer immune responses.
Further work is needed to understand how these immune changes occur and how the approach could be safely used in patients.
Researchers from King’s College London, the Francis Crick Institute and University College London investigated how immune cells inside breast tumours influence cancer growth.
They focused on myeloid cells, a group of immune cells found in large numbers within tumours that can either support an immune attack against cancer or contribute to tumour growth and immune evasion.
The team examined CD1d, a molecule found on the surface of myeloid and other immune and tissue cells that helps regulate immune responses.
When CD1d was genetically removed from cells in a mouse model of breast cancer, the mice were more resistant to tumour growth. Researchers also saw changes in myeloid cell populations, including increased activity among cells that can help attack cancer.
The team then blocked CD1d using an antibody and again observed changes in myeloid cells and slower tumour growth. Blocking CD1d also improved responses to immunotherapy in the mouse model.
Researchers used single-cell RNA sequencing, a technique that examines gene activity in individual cells, to investigate the immune changes in more detail.
They identified a population of myeloid cells called monocytes that expressed genes associated with inflammation, an important part of the immune response. These cells were particularly important in restricting tumour growth in the mouse models.
A similar pattern of gene activity was identified in data from human breast cancer tumours. Its presence in myeloid cells was associated with positive responses to immunotherapy in breast cancer patients.
However, the findings in people were based on gene expression data and did not test CD1d-targeting treatment in patients.
Professor Patricia Barral, professor of immunobiology at King’s College London and senior author of the study, said: “Many breast cancers do not respond well to current immunotherapies.
“Our findings reveal a previously unrecognised mechanism by which immune cells within tumours are regulated.
“While CD1d is best known for helping immune cells recognise lipid molecules, we found that it also plays a role in shaping the behaviour of myeloid cells within tumours.
“These findings suggest that targeting the immune cells that surround and support tumours could boost anti-cancer immunity and potentially improve treatment responses in the future.”
Researchers now plan to investigate how the immune changes occur and how they can be safely harnessed in patients.
They also want to examine whether targeting CD1d could enhance existing treatments and influence treatment responses in different cancer types.
The work was supported by UKRI BBSRC, Breast Cancer Now and the Cancer Research UK City of London Centre.
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