“In an industry as broad as femtech, there is untapped potential and fiscal gain to be had – for founders and investors alike”

While health tech as an industry has continued to boom in the UK, there remains a wide disparity when it comes to femtech and female founders.

It’s no secret that the UK, and particularly London, is a hub of innovation and investment. 

Second only to California’s Silicon Valley, 2022 saw London’s start-up ecosystem valued at US$314bn, with the UK capital taking the top spot globally for fintech, according to the 2022 Global Startup Ecosystem Report.

In the wake of Covid, health tech in particular has experienced a significant upward trajectory, providing digital-first access to patients in lieu of face to face care, or a lack thereof entirely as we continue to witness NHS waiting lists increase in the UK.

But while health tech as an industry has continued to boom in the UK, which is now home to a vast range of unicorns, there remains a wide disparity when it comes to femtech and female founders, which make up only six per cent of UK unicorns.

According to the Q3 2022 Femtech in the UK report by Femtech Analytics, the total funding of the femtech sector in the UK has exceeded £648m.

While indeed a vast and growing sum, this accounts for just over 0.2 per cent of the value of London’s start-up ecosystem, despite the fact that women are 75 per cent more likely to access digital healthcare than men.

If we consider not only the vast investment being funnelled into UK tech, but equally that the UK boasts the widest gender health gap of any G20 nation, femtech investment really poses a no-brainer for VCs looking to diversify their portfolio. 

Not in the least because International Women’s Day is fast approaching, but because women represent 50 per cent of the world’s population and are underrepresented in health research. 

Below are some of the many femtech companies in the UK disrupting and ultimately innovating healthcare for health equality everywhere.

Endometriosis

While still without a known cure or cause, endometriosis affects one in ten women in the UK and is the country’s second most common gynaecological condition, according to Endometriosis UK.

Most women are unaware of having this condition, with average diagnosis wait times sitting between a staggering seven and eight years. It’s clear that there more needs to be done here, and Syrona Health is one UK femtech leading the charge.

Founded by Chantelle Bell and Anya Roy, Syrona Health is building the future of gynaecological health condition management.

Their expert team of scientists and doctors is working to close the gender health gap and establish health equality by creating accessible care for all gynaecological conditions, and contributing to wider medical research.

Having recently completed their seed funding round which attracted US$2m, Syrona Health is certainly one to watch in the femtech space.

Sex

This section needs no introduction: sex is a vital part of human life. Establishing a healthy understanding of sexual desire, need and practice is well-documented to improve both mental and physical health, and yet remains a taboo conversation topic for many.

Whether a result of cultural, educational or other factors, we still don’t talk enough about sex.

This aversion is reflected in sextech funding, making up only 0.29 per cent of femtech funding worldwide in 2022.

Fortunately, we are beginning to witness a shift, with founders tackling this taboo to promote and educate healthy attitudes towards sex and sexual wellbeing. 

One such organisation is Ferly, whose app offers expert insight, courses, workshops and guided practices to help users to break stigma, dispel shame and ultimately empower themselves to lead healthy, confident and pleasurable lives.

Another UK femtech company which focuses on sexual wellbeing is Blueheart, which provides digital sex therapy via their AI-powered app, to help users improve intimate connection with partners and themselves with insights from world-renowned sex practitioners. 

Mental health

Mental health problems are on the rise in the UK, according to mental health charity Mind. 

Despite the fact that mental health issues are prevalent in all genders and that specific causes are complicated and can be difficult to root out, research has found that women are more likely to suffer suicidal thoughts than men. Equally, women are twice as likely to suffer from anxiety than men, and more likely to suffer from depression.

Enter femtech startups like Clementine, hailed as ‘one of the seven apps every woman should own’ by The Guardian. If you haven’t already heard of Clementine, consider this your reminder to check it out.

Incorporating hypnotherapy practices, Clementine supports women to build confidence, reduce anxiety and stress and help women boss it, to put it plainly. With pick-me-up sessions, sleep hygiene courses, confidence boosters and more, Clementine is the app helping women become their best selves.

Having secured US$1m in seed funding in 2020 from Fortunis Capital, it would appear that the mental health femtech space is poised to continue on its journey of growth for women everywhere.

Reproductive health & fertility

Leading the charge of femtech, reproductive health and fertility make up 2.98 per cent and 2.67 per cent of all femtech funding respectively, inclusive of pregnancy and nursing.

In the UK, statistically one in seven may have difficulty conceiving, between nine and 15 per cent of couples. For femtech companies and investors, this offers the opportunity to expand within a lucrative sector that is in a flow state of scaling up and constantly evolving.

A good example is Béa Fertility, the world’s first at-home, clinical grade fertility treatment, at affordable prices.

From ovulation tracking, at-home insemination and pregnancy testing, Béa Fertility is supported and led by clinical experts to support all customers through their fertility journey.

It is a monthly subscription service built on a direct-to-consumer model, which specifically also caters to the LGBTQ+ community, to democratise the fertility process with inclusive, affordable care. 

Looking forward, and beyond the organisations listed above, there’s ample space for early movers to stake out new opportunities in an innovative space.

In 2022, female founders attracted under 12 per cent of investments into UK firms, even though just under 17 per cent of all active companies are led by women.

In an industry as broad as femtech, there is untapped potential and fiscal gain to be had, for founders and investors alike.

In order to increase representation, grow a balanced, diverse economy, and close the gender health gap, femtech is a vital step forward.

As digital health solutions continue to take over the market, now is the time to look to groundbreaking startups and scaleups making significant impact to the health and lives of women globally – investors, on your marks. 

 

Grace Tucker is a consultant, strategist, and media relations specialist. She is senior account manager at The Media Foundry, a PR and comms agency for start-ups and growing businesses across all areas of tech, media and the third sector.