Entrepreneur
Could the first instant at-home test transform how women track their hormones?

Eli Health is on a mission to transform female hormone testing with the first FDA-registered instant hormone monitoring system. Co-founder and CEO, Marina Pavlovic Rivas, speaks to Femtech World about making hormone testing more accessible.
The Hormometer, developed by femtech company, Eli Health, enables real-time, saliva testing for instant results, enabling women to monitor their hormonal fluctuations from the comfort of their own home.
Developed over five years, Eli Health raised US$12m in its Series A funding to scale the product, bringing its total funding to US$20m.
The FDA-registered Hormometer is an at-home needle-free test kit that utilises AI for data-driven insights. Currently, the Hormometer enables women to test their progesterone and cortisol levels, with estradiol testing currently in development.
While women have traditionally paid hundreds of pounds for tests, potentially waiting weeks for test results, Eli’s Hormometer uses computer vision algorithms to analyse the saliva samples, delivering results in 20 minutes at around UD$8 per test.
Marina Pavlovic Rivas, co-founder and CEO of Eli Health, which has 12 patented inventions for hormone monitoring, says that the tests and accompanying app offer insights into women’s health across fertility, menopause, and mental health, enabling improved access and affordability to hormone testing.
“We started the company because we wanted women to have access to the important data when it comes to their health,” Rivas tells Femtech World.
“We realised that when it comes to hormones, this data doesn’t exist at the frequency it’s needed, because you can test your hormones through a lab, but that process takes at best a few days, and on average, a few weeks. It is quite expensive as well.”
Traditional hormone lab tests only provide insight into a certain window of time, Rivas explains, but for women, whose hormones are in constant fluctuation, more consistent monitoring is needed. Hormones like cortisol can also fluctuate up to 100 per cent in one hour, making it difficult to get a full picture.
“This frequency and cost don’t enable high frequency, long-term testing, which reflects, ultimately, the fluctuations of hormones that happen on a daily basis,” Rivas says.
“Our mission became to create that real-time interface for the human body, so that we can have access to this data at the frequency that matters.”
Using lateral flow assays, the test works by collecting saliva from the tongue. The individual then uploads a picture of the test into the app.
The app utilises AI-driven insights to provide lab-grade results on hormone levels, along with scores, benchmarks and recommendations to enable women to take action.
“What we enable is not just cheaper, faster testing,” says Rivas. “It’s a very different approach to this type of data. Let’s say you’re measuring your heart rate at the doctor’s office once per year, it’s very different to having it on your wrist at all times with a smart watch. That becomes information that you can use on a daily basis to take actions around your lifestyle, for example, sleep, exercise, and all areas of your health and wellness.”
Explaining the range of markers measured by the Hormometre, she continues: “It touches the typical areas of women’s health – fertility and menopause, but also endocrine conditions and beyond that, some of our hormones, like cortisol, are not reproductive hormones. For us, it was important to include them, because when we speak of hormonal health, it goes beyond reproductive health.
“Some biomarkers like cortisol have a major impact on mental health, how people feel on a daily basis, how they perform at work, but also when they exercise and ultimately, all aspects of their health. It is our mission to enable people to improve their health and performance across all of those different areas.”
Rivas adds: “Around 80 per cent of women will experience symptoms related to hormonal imbalances in their lives, so that’s a very high number of people. When it comes to some hormones like cortisol, there’s one in three people who experience dysregulation.
“How that translates on a day-to-day basis is that people live with different symptoms that impact their work, that impact personal lives, and having that information enables them to manage those symptoms and even eliminate them.”
It is not only about monitoring hormones, as Rivas highlights, but also about taking preventative action to ward off potential chronic conditions in the future.
“It has been shown in research again and again that dysregulation of some hormones, like cortisol, is also linked to higher probability of developing different conditions, including chronic conditions, heart conditions, cognitive disease and more,” says Rivas.
“Tracking hormones has the double benefit of feeling better today, but also preventing different conditions tomorrow.”
Having recently won the Femtech World Brain and Mental Health Innovation award for its work to help women better understand the impact of hormones on their mental health, EliHealth is now focusing on expanding to other markers.
“We are always focused on making a product that can address the needs of our users, and we’re always very focused on that work. So, to be able to take a step back and have recognition from the industry is meaningful for us in our mission,” Rivas adds.
“The future will be about continuing to focus on that mission of making a real-time interface to the human body by expanding to other hormones and their markers, and ultimately providing that information in real time to our users.”
Eli Health won the Brain and Mental Health Innovation category at the Femtech World Awards 2025. See full winners list here.
Insight
Women’s health draws record $1.55bn in equity as capital spreads beyond the mega-rounds

Women’s health companies raised a record $1.55 billion in disclosed equity in 2025, up 41 per cent year on year, according to W Group’s first Global Women’s Health Investment Report, The Road to the Era of Scale.
The report tracks over 500 funding stories and 164 equity rounds across 15 categories and 30+ countries.
Eighty-five companies raised equity in 2025, the highest single-year count on record. But according to the report, the headline figure isn’t the most significant one.
The bigger shift is in where that capital went and how concentrated it was at the top compared to the year before.
The report also points to a brand new investment category that didn’t exist twelve months ago.
SheMed closed a $50 million Series A this year to build a women-specific GLP-1 and metabolic health platform, the first dedicated raise of its kind.
Alongside the momentum, the report identifies one structural risk that could determine whether 2025’s growth holds: a bottleneck at Series A that’s leaving a number of promising seed-stage companies stuck.
Molly Taylor, head of content at W Group, said: “2025 was the biggest year women’s health has ever had, and the most important finding isn’t the headline number.
“It’s that the money has stopped pooling at the top.
“Capital is reaching more companies, more categories and more countries than ever before. The Era of Scale is real. It’s just not finished, and the Series A gap is where it could stall.
“Closing that gap is the highest-leverage move this ecosystem can make in 2026.”
Read the full report: https://wplatform.co/forms/womens-health-equity-funding-trends-report-2026?utm_source=advocacy&utm_medium=ext_email&utm_campaign=2026-q3-health-report-femtech-world
Entrepreneur
Onto Health acquires diagnostics software company Levy Health

Onto Health has acquired Levy Health, a fertility software company providing precision diagnostics and patient intake for reproductive medicine.
The acquisition, fuelled by Onto Health’s US$20m Series A fundraise in April, supports its plan to build scalable, tech-enabled infrastructure for reproductive medicine.
Onto founder Roohi Jeelani, MD, called it the first of several moves in the company’s expansion strategy in a LinkedIn post, adding that there was “more coming soon”.
She said: “This isn’t just an acquisition, it’s proof of how we’re building Onto: physician-led, tech-enabled, and built to scale without losing the personal touch fertility patients deserve.”
Headquartered in Chicago, Onto Health combines evidence-based fertility care with artificial intelligence-driven diagnostics, clinical automation and longevity science.
AI-driven diagnostics use software to analyse patient information and support clinical decision-making, rather than replace clinicians.
Levy Health, founded in Berlin with US offices in San Francisco, helps medical providers identify endocrine disorders more quickly and helps clinics streamline fertility workups.
Endocrine disorders affect the body’s hormone system, which can influence ovulation, menstrual cycles and fertility.
Co-founder Caroline Mitterdorfer said joining Onto would expand Levy Health’s fertility care tools to more clinics and patients, helping physicians focus on patient care.
Onto opened its first clinic in Chicago in February, with plans for three more in the greater Chicago area.
The company said in April that it would use its new funding, led by Artis and Humania, to support additional operations in the US and expand into the Gulf Cooperation Council.
The Gulf Cooperation Council includes six Arab states bordering the Persian Gulf.
Entrepreneur
Vespexx signs MOU with global femtech network Femtech Across Borders

Vespexx, the femtech company behind couples preconception health platform Soonr, has signed a memorandum of understanding (MOU) with Femtech Across Borders, a global femtech network supporting women’s health initiatives across 80 countries.
The agreement was signed on June 30 at Korea Femtech Summit 2026, the first global femtech summit held in Korea, hosted by Vespexx.
Femtech Across Borders is a global femtech community led by founder Rachel Bartholomew, who entered the field after her own battle with cervical cancer.
The organisation connects women’s health innovators, companies, and institutions worldwide, supporting collaboration across borders.
“For Korean femtech to reach the world, connection with the global community matters more than anything,” said Scarlett Joowon Jung, co-CEO of Vespexx.
“Through our collaboration with Femtech Across Borders, we’ll continue to strengthen our role as a bridge between Korea and the global femtech community.”
Through the MOU, the two parties will work to lower the barriers between Korean and global femtech, raising awareness of women’s health, sharing networks, and exploring future opportunities to collaborate.
Vespexx, in particular, intends to serve as a bridge connecting Korean femtech companies with the global community, widening the path for domestic companies to reach international markets.
The agreement builds on Vespexx’s recent global momentum.
On June 30, the company hosted Korea Femtech Summit 2026, bringing together femtech leaders from Korea and abroad, and used the occasion to announce the launch of Femtech Korea, an industry network that brings Korean femtech companies together and connects them with the world.
The partnership with Femtech Across Borders extends that effort outward, linking Korea’s domestic network to the global community.
Learn more about Vespexx at vespexx.com
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