News
Comment: Socio-economic challenges facing the femtech industry
By Melissa Wallace, co-founder of the Fierce Foundry

In an industry projected to hit US$50B as soon as next year, femtech founders—of whom 80% are women—receive only 1.9% of global VC funding. This funding limitation hinders the development of products, services, and technologies that could improve women’s lives, provide more affordable and better options, and challenge taboos surrounding women’s health.
Funding for femtech startups is challenging because venture capital predominantly resides in a male-dominated ecosystem. The lack of female representation leads to an undervaluation of women’s health issues, as these don’t directly relate to male investors.
People tend to invest in individuals who resemble them and products that align with their experiences. This simple fact means that before we can focus on building femtech, we must address the capital discrepancies—female founders have received less than 3% of VC funding since 1994.
Take Nurx for example, a telemedicine platform offering services like birth control, STI testing, and PrEP. It faced significant hurdles in securing venture capital, largely due to gender biases and the undervaluation of women’s health solutions. Initially, the company struggled to attract investors, as male-dominated VC firms often viewed women’s health as a niche market. Moreover, the politically charged nature of reproductive healthcare services made many investors hesitant.
This lack of funding delayed Nurx’s expansion into new markets and its ability to offer a wider range of services. While Nurx eventually raised significant funds, its early struggles highlight how venture capital biases can impede the growth of femtech companies, limiting their potential to address critical healthcare gaps for women.
Even more concerning than market delays due to funding issues is the lack of affordability and access for consumers. Many excellent products remain out of reach for the women who need them most. A 2022 survey by the Kaiser Family Foundation (KFF) found that nearly 30% of women reported skipping or delaying medical care due to cost, compared to about 22% of men.
The gap widens among low-income women, with over 50% reporting difficulty affording healthcare. Lack of insurance coverage for certain products, such as fertility treatments or menstrual health products, exacerbates these socio-economic inequalities, preventing marginalized women from benefiting from technological advancements.
The taboos surrounding women’s health intensify these issues. When communities regard topics like menstruation, menopause, or sexual health as taboo, it becomes harder for femtech companies to gain widespread acceptance.
We saw this clearly with Clue, the menstrual tracking app, as it attempted to expand into the Middle East and Asia. Spreading the word organically proved nearly impossible. Even when Clue was available, many women in conservative markets hesitated to download and use the app, fearing judgment from family or society. In these regions, many women avoid digital health solutions related to their bodies due to fears of social stigma or backlash.
Regulatory hurdles, both domestically and globally, further complicate matters. Compared to other sectors, femtech faces greater challenges, including longer approval times. A 2020 study by Rock Health found that femtech companies, particularly those developing medical devices for reproductive health or diagnostics, take 20-30% longer to receive regulatory approval from agencies like the FDA, compared to general health tech products. The lack of research exacerbates this issue.
Only about 30% of clinical trials for new medical devices include women as test subjects, complicating the approval process for femtech products. Companies developing women’s health solutions often need to invest in additional research and trials, increasing costs and prolonging time to market compared to companies targeting broader health issues.
Fierce Foundry is joining the growing number of organisations and initiatives by not only raising awareness about the socio-economic challenges of femtech but also creating a more favorable environment for femtech innovations.
We do this by advocating for policy reforms, raising awareness about women’s health needs, and supporting startups facing regulatory hurdles. In this election year, it’s crucial we prioritize candidates based on their position on femtech. Using non-partisan sites like Vote411, we can research candidates’ stances on healthcare, particularly women’s health issues such as reproductive rights, maternal health, and access to healthcare innovations. femtech thrives in environments where women’s health is prioritized and policies support access to technology-driven solutions. And let’s not forget – for every $1 invested in women’s health we can expect $3 in projected economic growth.
Melissa Wallace is co-founder of the Fierce Foundry, a venture studio with a mission to build female-founded startups from idea to exit.
Pregnancy
Chemicals in plastics may be linked to high blood pressure during pregnancy

Phthalates found in plastics and personal care products may be linked to higher blood pressure during pregnancy, a study suggests.
Hypertensive disorders of pregnancy, including pre-eclampsia, are a leading cause of maternal mortality in the US.
Higher blood pressure during pregnancy has also been linked to adverse health outcomes for both mothers and children.
While family history and lifestyle are known risk factors, growing evidence suggests exposure to phthalates may also contribute to raised blood pressure during pregnancy.
Phthalates are chemicals found in plastics, personal care products and hundreds of other consumer goods. Some can interfere with the body’s natural hormones.
Kimberly Parra, of Harvard T.H. Chan School of Public Health, said: “Our study suggests that having higher concentrations of personal care products-associated chemicals, known as phthalates, in the body might contribute to elevated blood pressure in pregnancy.
“While our study does not show that phthalates cause high blood pressure during pregnancy, it suggests that reducing exposure to this class of chemicals by limiting personal care products containing these ingredients, particularly those with fragrance, may be a way to address high blood pressure in pregnancy and improve pregnancy health.”
Researchers measured phthalate exposure and blood pressure in 338 pregnant women from the Environmental Reproductive and Glucose Outcomes Study at three points during pregnancy.
They analysed whether higher levels of the chemicals, individually and in combination, were linked to higher blood pressure or an increased risk of pregnancy-related high blood pressure disorders.
Women with higher urine concentrations of phthalates associated with fragrances and personal care products had higher systolic and diastolic blood pressure, markers of increased risk of hypertensive disorders of pregnancy.
Systolic blood pressure is the pressure in the arteries when the heart beats, while diastolic pressure measures it between beats.
Around 13 per cent of participants developed a pregnancy-related high blood pressure disorder.
Women with higher levels of certain phthalates, particularly those found in personal care products, tended to have higher blood pressure later in pregnancy.
Parra said: “More research is needed to better understand these findings, particularly whether the effects are driven by changes in oestrogen-related pathways. Additional studies should also examine the potential role of other phthalates and their replacement chemicals.”
Entrepreneur
Applications close August 18 for Women’s Health Innovation Summit 2026 Innovation Showcase

The Women’s Health Innovation Summit (WHIS) has reminded startups that applications for its 2026 Innovation Showcase close on Tuesday, August 18.
The Showcase gives early and growth-stage companies the opportunity to pitch live on stage to the most influential audience in women’s health, at a summit that convenes more than 1,000 senior decision-makers from across the ecosystem, including payers, providers, pharma, and investors.
Now in its eighth year, WHIS takes place October 13–15, 2026 at Encore Boston Harbor.
The event has built a reputation as the leading platform uniting the full women’s health ecosystem, from health systems and health plans to pharmaceutical leaders and the investors funding the next wave of innovation in the space.
A Direct Line to Funding, Partnerships and Adoption
Companies selected for the Innovation Showcase will present directly to an audience with the capital, clinical expertise and commercial relationships to move deals forward.
Past participants have gone on to secure investor introductions, commercial partnerships and clinical collaborations that started as presentations on the WHIS stage and turned into signed agreements.
Applications Reviewed by an Expert Selection Committee
Submissions are being reviewed by a selection committee of leading investors and industry operators, including:
- Parambir Bhangu, Executive Director, External Innovation & Emerging Science, Organon
- Elizabeth Bailey, Co-Founder & Managing Partner, Foreground Capital
- Karla Loken, Founder, Loken and Associates
- Mané Mikayelyan, Associate Partner, DeciBio
- Anna Valcheva, Founder, Managing Director & CEO, Astra Ventures
- Azin Radsan van Alebeek, Co-founder & General Partner, Emmeline Ventures
WHIS is where the women’s health ecosystem comes together to get deals done,” said Poppy Howard-Wall, Event Director of WHIS.
How to Apply
Early and growth-stage companies across digital health, therapeutics, diagnostics, med device and consumer health are encouraged to apply before the August 18 deadline.
Full details and the application form are available at whisusa.com/attend/start-ups.
Menopause
Third of women unaware of perimenopause mental health impact

A third of women surveyed did not know perimenopause could affect mental health, with many experiencing symptoms for months before recognising them.
The survey of 1,000 women found many had been caught off guard by mental health symptoms linked to perimenopause or menopause.
It was conducted by Dynata on behalf of LifeStance Health in June 2026 and included women born between 1960 and 1990 who had, or suspected they had, perimenopause or menopause.
Respondents described anxiety as somewhat or extremely severe in 66 per cent of cases and depression in 54 per cent, with many initially attributing the symptoms to a separate condition rather than a hormonal transition.
Stephanie Eken, chief medical officer at LifeStance Health, said: “Women’s mental health needs change across their life stages, and perimenopause and menopause are among the biggest transitions of all.
“Specialised, life-stage-specific care should be standard practice, and I believe the organisations that build care around this reality, rather than taking a one-size-fits-all approach, will define the next era of women’s health.”
Around 33 per cent of respondents said they did not know perimenopause could cause mental health symptoms.
Almost half, 49 per cent, were surprised that mental health symptoms linked to perimenopause or menopause could last for several years.
A further 22 per cent were surprised that perimenopause could begin shortly after childbirth.
The survey found 74 per cent experienced symptoms for six months or longer before suspecting perimenopause or menopause, while 27 per cent recognised the transition within six months.
Before recognising the symptoms as potentially linked to perimenopause or menopause, 49 per cent believed they were experiencing anxiety as a standalone condition and 39 per cent thought they had depression.
Around 36 per cent were surprised that symptoms linked to perimenopause or menopause could resemble a standalone mental health condition.
Among respondents who tried therapy for perimenopause or menopause-related symptoms, 83 per cent said it was helpful.
Around 82 per cent of those who tried medications such as antidepressants or oestrogen also found them helpful.
Nearly half, 47 per cent, said mental healthcare should be a standard part of perimenopause care, while 59 per cent said they would be more likely to seek mental healthcare if they knew it could meaningfully improve their symptoms.
Around 35 per cent said perimenopause or menopause had a slight to significant negative impact on their overall mental health, while 42 per cent reported a negative impact on mood.
However, 32 per cent reported no impact on their overall mental health and 22 per cent reported no impact on mood.
The survey points to women experiencing mental health symptoms for an extended period before connecting them to perimenopause or menopause, with many initially attributing anxiety or depression to an unrelated cause.
That delay may help explain why nearly half did not realise how long these symptoms can persist and why more than a third were surprised they could resemble a standalone mental health condition.
Despite the awareness gap, most respondents who sought treatment, whether therapy or medication, said it had been helpful.
Separate research published in 2023 estimated that menopause symptoms cost the US economy around US$1.8bn a year in lost work productivity.
The estimated cost rose to US$26.6bn when associated healthcare costs were included.
That research was based on more than 4,400 employed women aged 45 to 60, with its authors saying further studies in larger and more diverse populations were needed to confirm the findings.
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