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How to access femtech start-up funds in the UK

According to UENI’s 2020 report on gender and small business, 32.37 per cent of UK businesses are currently owned by women, up from 17 per cent in 2016.
While it demonstrates the gender gap in the British business world is closing (albeit slowly), what does it mean for femtech companies?
Access to funding
The 2019 Rose Review found that female-led businesses receive less funding than those headed by men at ‘every stage of their journey’. Not only does this inhibit scale up, it could put a stop to starting up in the first place.
According to the report, access to funding is the number one barrier listed, with ‘too big a financial risk’ being the second, showing that desire, fear and other personal responsibilities – while still important – are secondary to financial reasoning.
While funding is a barrier, this begins with lack of information and advice, even to the point of explanation around less obvious funding sources such as angel investment. More support from the very beginning would ensure they have a full understanding of the different options available, and the best one/s to suit them as entrepreneurs, as well as their enterprises’.
Although these figures are based on the business landscape in general, not specifically related to femtech itself, as women are most likely to set up femtech businesses, it gives a helpful understanding.
And it seems investors are catching on too.
According to Global Market Insights, the femtech market, which was valued at more than US$22.5 billion in 2020, is expected to grow by 16.2 per cent from 2021 to 2027, with other figures suggesting it will exceed US$60 billion within the next decade.
Funding sources
As Kevin Costner said in Field of Dreams: “Build it and they will come” – but just how true is that?
For many, the building (business creation, product development and testing) is not possible without funding, so clearly Kevin hadn’t tried launching a femtech business.
As a new business owner, the options, jargon, avenues and types of funding can be overwhelming, so it’s useful to seek advice from peers who already run established businesses to find out how they did it.
Do they have contacts who could help? Who did they secure funding through? Do they know of any business networks or support providers that can help point you in the right direction?
Online resources such as Swoop can help clear the jargon, and also list the variety of funds available for businesses at different stages.
If you’re looking for a more personal approach, get in touch with funding companies such as Nudl. They have specialist teams on hand to listen to you and your needs, identify opportunities and take you through the entire application process to make sure you’re not only applying for the right funding, but saying the right things in the process – not matter what your niche.
Want a more online experience? Try Nerdwallet for a process similar to applying for a credit card. It’s not as personal, but gives you a quick decision and often fast funds.
Angel Investment
While saying you’re looking for your angel may sound strange in a business context, they can often be the saviours you didn’t know existed.
Often high-net-worth individuals, angel investors fund start-ups at the early stages, often with their own money, and usually for businesses they have a personal or passionate connection to.
One such investor is Bérénice Magistretti with Visionaries Club. A tech journalist turned investor, she is fascinated with the femtech space and even writes a regular column for Forbes about ‘Tech That Matters’ – largely focusing on topics that include femtech and accessibility.
She has made dozens of investments from $100k to US$5 million and knows that the world isn’t going to change overnight, but great initiatives have been created to get things moving.
Bérénice is one of many angel investors ready to support businesses they believe in, and who often bring with them a wealth of experience and knowledge that can help with various parts of the business, from marketing and branding to HR and scaling up.
So, while some may wish to remain silent and simply fund a business, always consider what other support you could gain from those involved in your business.
Crowdfunding
An underrated yet growing funding source is crowdfunding – the use of small amounts of capital from a large number of individuals.
And while you could be tempted to think that relying on so many people is a risk, it is possible.
Sextech pioneer MysteryVibe reached 127 per cent of their fundraising goal from over 530 investors for their first ever campaign which will go towards new product development, research, team expansion and inventory building.
While not a start-up, this success story does demonstrate that there are people out there willing and able to support businesses that they believe in. And crowdfunding gives them the opportunity to do so – and be involved – without the need to spend significant sums that they may not have access to.
News
Congress urged to invest over $20bn to close women’s health gap

Congress is being urged to invest US$20bn over 10 years to close the women’s health gap.
The American College of Obstetricians and Gynecologists, the Society for Women’s Health Research and the Women First Research Coalition have unveiled the National Strategy to Close the Women’s Health Gap.
The framework calls for a coordinated national effort to improve women’s health research, care and outcomes.
It says women make up more than half of the US population, but their health needs across conditions and life stages have been understudied and underserved for decades.
Kathryn Schubert, president and chief executive of the Society for Women’s Health Research, said: “The women’s health gap has persisted for far too long.
“This strategy offers Congress a road map to improve health outcomes, drive innovation, and build a healthier future for women, families, and communities.”
The strategy notes that Congress required women to be included in National Institutes of Health-funded clinical research through the NIH Revitalization Act in 1993.
However, it says major gaps remain in women’s health research, clinical care and how evidence is put into practice.
The plan proposes US$7bn for research and innovation, including expanded federal investment in women’s health research across the NIH, VA, DoD and the Advanced Research Projects Agency for Health.
It would also establish a Women’s Health Research Interdisciplinary Fund at the NIH and create a national network of Women’s Health Centers of Excellence.
The centres would aim to accelerate the translation of research into clinical care and serve as training sites for researchers and clinicians.
A further US$1bn would be used for regulatory coordination and modernisation, including cross-agency collaboration and work to address sex differences in drug and treatment approvals.
Sex differences are biological differences between females and males that can affect disease risk, symptoms, treatment response and side-effects.
The funding would also support updated NIH tracking systems for women’s health research investment and publication standards on how sex as a biological variable is considered in research.
The strategy calls for US$4bn for data and evidence infrastructure, including a public-private partnership focused on women’s midlife health data.
It would also convene a public workshop to review existing women’s health research datasets and develop common data elements to fill gaps and make datasets more widely available.
Another US$7bn would go towards strengthening the clinical and research workforce.
This would include career pathways, loan repayment programmes, a women’s health clinical workforce loan repayment programme modelled on the National Health Service Corps and interdisciplinary training.
The workforce measures would include particular emphasis on rural and underserved areas.
The final US$1bn would support public awareness and education campaigns to improve health literacy, preventive care and participation in women’s health research.
Health literacy means a person’s ability to find, understand and use health information to make decisions about care.
The campaigns would use digital and traditional media developed in consultation with patient advocacy organisations and relevant medical societies.
Sandra E Brooks, chief executive of the American College of Obstetricians and Gynecologists, said: “Closing the women’s health gap requires not only funding research, but also investment in the people who conduct that research and those who translate research findings and discoveries into better patient care.
“Strengthening the women’s health research and clinical workforce is critical to accelerating the innovation needed to improve health outcomes for women.”
The strategy says women have higher annual out-of-pocket healthcare costs than men and live 25 per cent of their lives in poorer health.
Supporters say this strengthens the economic and public health case for long-term congressional investment.
The framework has been endorsed by organisations across women’s health, ageing, heart disease, autoimmune disease, cancer, reproductive medicine and neurological conditions, including the Women’s Alzheimer’s Movement at Cleveland Clinic, the National MS Society and UsAgainstAlzheimer’s.
Hormonal health
Stardust period tracker shares health data, study reveals
Stardust shared sensitive period tracking data with third-party analytics firms, according to new privacy research from Mozilla.
The findings expose a privacy divide in femtech, where users often trust apps with highly sensitive reproductive health information.
The research was carried out by Mozilla’s Privacy Not Included team, which tested several period tracking apps.
It found that Stardust, a period tracker used by millions, shared users’ reproductive health data with analytics companies, a practice the research said contrasted with its privacy-first marketing.
Analytics companies collect and examine information about how people use digital products, often to help businesses understand user behaviour or improve marketing.
The findings raise questions about whether privacy promises made by health apps match what happens to users’ data.
According to research reported by TechCrunch, one other period tracking app tested by Mozilla received what researchers called a “squeaky clean” rating, suggesting similar services can operate without sharing sensitive health data in the same way.
Period tracking apps have come under greater scrutiny in the US since the 2022 overturning of Roe v Wade, which removed federal constitutional protection for abortion.
Some users and privacy advocates have warned that menstrual and reproductive health data could potentially be sought in legal cases.
The research also points to a broader regulatory problem for consumer health apps.
In the US, many health apps are not covered by HIPAA, the health privacy law that applies to medical providers and some healthcare organisations.
That means some consumer apps may be able to collect, share or monetise sensitive health data under rules that differ from traditional healthcare privacy protections.
The femtech market, estimated in the report at US$50bn, has grown quickly, but privacy regulation has not always kept pace with app development.
Stardust had not publicly responded to Mozilla’s findings at the time of the original report, and its privacy policy remained live on its website.
The issue is particularly sensitive for period tracking because the data can reveal patterns around fertility, pregnancy, contraception and reproductive health.
Mozilla’s wider Privacy Not Included initiative has examined consumer technology products for privacy and security concerns since launching in 2017, including connected devices, children’s toys and health apps.
The findings come as US lawmakers continue to debate stronger federal privacy rules for sensitive health information collected by consumer apps.
The American Data Privacy and Protection Act, which has been stalled in Congress since 2023, includes provisions addressing sensitive health information collected by consumer apps.
Experts have also warned that anonymised health data can sometimes be re-identified when combined with other information, such as location data.
Re-identification means linking supposedly anonymous data back to a specific person.
A 2019 study found that menstrual cycle data combined with location information could identify individual users with high accuracy.
State-level privacy laws in places such as California, Virginia and Colorado have also given consumers new rights around personal data, although enforcement can vary.
Privacy advocates say the research underlines the need for clearer data practices, stronger safeguards and greater transparency in femtech.
For users, the findings are a reminder that health apps do not automatically protect health information in the same way as healthcare providers.
The report suggests period tracker companies that put privacy first may be better placed to build trust in a market where long-term use depends on confidence.
Mozilla’s investigation suggests privacy promises in femtech do not always match practice, and that period trackers can function without sharing sensitive user data in the same way.
News
Juno Bio secures US$3.8m for precision diagnostics

Juno Bio has secured US$3.8m to expand its diagnostics platform for vaginal health and reproductive care.
The funding round was led by Ada Ventures, with participation from Artesian, Entrepreneur First and Illumina Accelerator.
The women’s health startup said the seed funding will support the launch of its first CLIA-certified sequencing laboratory in Oakland, California, and a new clinical vaginal microbiome and STI test for healthcare providers.
CLIA certification refers to US laboratory standards for testing human samples used in diagnosis, prevention or treatment decisions.
Dr Leighton Turner, co-founder and chief scientific officer of Juno Bio, said: “The vaginal microbiome is still one of the least understood systems in the body at a clinical scale.
“With our lab, we’re starting to build a measurement standard that clinicians can actually use.
“We believe the level of detail from this kind of testing can meaningfully improve how vaginal healthcare is provided.”
The company is developing precision diagnostics for vaginal health, where patients can experience recurring symptoms, inconsistent diagnoses and treatments based on trial and error.
Juno Bio said bringing testing in-house gives it greater control over the process, from sample handling to results, while allowing it to refine its technology and build what it says is one of the largest datasets focused on the vaginal microbiome.
The vaginal microbiome is the community of bacteria and fungi that naturally live in the vagina. Changes in this balance can be linked to infections, symptoms and wider reproductive health issues.
Juno Bio’s newly launched clinical test examines the wider vaginal microbiome and screens for four common sexually transmitted infections, or STIs.
Rather than looking for a single cause, the test is intended to give clinicians a broader picture of what may be contributing to symptoms.
Juno Bio says this matters because multiple infections can occur at the same time and microbiome changes may be linked to fertility, menopause or recurrent infections.
Dr Anna Powell of Johns Hopkins said: “Vaginal microbiome testing has the potential to significantly reshape how we understand and manage vaginal health, particularly for patients with recurrent or unexplained symptoms.
“While the field is still evolving, advances in sequencing and data interpretation are moving us closer to a future where more personalised, microbiome-informed care can complement existing diagnostic approaches.”
Check Warner, co-founding partner at Ada Ventures, added: “Juno Bio is setting a new standard for how vaginal health is understood and managed.
“What they’ve built at this stage, with this level of capital efficiency, is exceptional.
“We’re proud to support the team as they scale their clinical infrastructure and continue leading innovation in this critically underserved category.”
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