Femtech in Europe
Looking for the latest tech stats and trends on Esports in Europe? We’ve got you covered. We’ve collected the latest European technology statistics, trends, and data to help in your quest.
The term femtech originated in Europe – Clue app founder Ida Tin coined it in 2016 – so it’s only natural that we go with this as a European trends report.
❓ Understanding Femtech
“Femtech is more than period tracking apps.”
- Femtech refers to software, diagnostics, products and services, that use technology to support women’s health.
- Reproductive health is the largest area of application for the femtech market(56% of the market) but it is not the only one.
- The most popular areas are Pregnancy & Nursing, General Health, Healthcare & Diagnostics and Reproductive Health.
- General Health: nutrition and fitness, mental health, and sexual wellness.
- Pregnancy and Nursing: maternal and post maternal-related health conditions, breastfeeding
- Healthcare & Diagnostics: diagnostic tests & screening, disease management, menstruation.
- Reproductive Health: menstruation tracking, at-home fertility monitoring.
- These problems are normally tackled via platforms (mobile apps, telehealth, etc.), deep-tech (AI, ML and big data) and devices (wearables, sensors, remote patient monitoring.)
- Femtech can be understood as a continuum – pre-care → during care → post-care.
- Specialized Femtech companies are on the rise but the market is currently served, mostly, by established clinical diagnostics companies, pharmaceuticals and traditional medical device companies.
“Women care (about health) and spend more but are underserved.”
- There are 299 million women in the EU.
- Germany - 42 million
- France - 34 million
- Italy - 30 million
- Spain - 23 million
- Poland - 19 million
- Women have huge influence in healthcare: 90% of women are primary decision makers for their family and key influencers for friends, and 80% of household spending is done by women.
- This is reflected in spending: working-age femalesspend 29% more per capita on healthcare compared to males in the same age group.
- No one is serving them, and the ones who are, despite having huge potential, are immensely underfunded. The Femtech industry accounts for only 1.4% of capital that flows into healthcare..
- Despite representing an economic burden of over $500 billion, only 4% of healthcare research and development funding is targeted toward women’s health.
- In Europe, Femtech raised $190 million in 2019 and is on track to do $98 million year-to-date in 2020.
📈 Why Femtech is an Opportunity
“Femtech is an undervalued asset”
- Femtech is growing at an incredible pace. In 2015, global Femtech startups raised around $82 million. This year the space surpassed $1.1 billion in funding, with $750 million in 2019.
- Everyone is still quoting a 2018 Global Market Insights report (or the Frost & Sullivan’s) as the ultimate source of truth saying that Femtech will be $50 billion by 2025. That’s pre-COVID (and pre-rise of telehealth) so it is likely that it’s a multiple of that.
- Women are 75% more likely to use digital tools for healthcare than men.
- There is a more conducive regulatory environment (particularly when you think about Europe vs. the US): since 2016, regulatory agencies have supported modern digital applications for the treatment of conventional women’s health issues. For instance, Natural Cycles, a hormone-free birth control application, received CE approval as a Class-Two medical device to be marketed in Europe in 2017, and the FDA approved Ava, a fertility tracking wearable, as a Class-One medical device in 2016.
- Governments are also more conducive to partner with new, less proven providers. The NHS partnered with Elvie to offer their pelvic trainer, which normally costs £169, on prescription to patients with stress urinary incontinence (SUI.)
- Most companies in the space are single-product companies. There is room to diversify (by launching or acquiring new products.)
- Femtech companies face challenges in raising money, because women's health issues are not always understood by investors, women are underrepresented in the investment community,
- Outside Europe, emergent markets can be key if served correctly and at the right price: Brazil has 106 million women and India 497.
“Serve the femtech market”
- Focus on niches outside reproductive health. For instance, there is a high prevalence of chronic diseases among women – sometimes one to two times higher than that in men – like Alzheimer’s.
- PR firm focused on demystifying femtech. Cultural and social taboos are still big barriers in the adoption of new products.
- Consultancy to help femtech products get regulatory approval in Europe.
- Newsletter and community for femtech founders. Like Femtech Collective but for Europe.
- Niche job board to help femtech companies hiring. Many women are looking for their next role with a purpose.
- Health data is normally in silos – multiple doctors, multiple hospitals. The right Femtech company can become the canonical medical record for women.
- Medicine is normally reactive. Numerous femtech startups are focused on increasing general wellness through providing preventative health opportunities.
- Femtech will grow at an even faster pace than predicted.
- A new femtech fund will show up, or funds will hire female partners to focus on the space.
- Employers will start offering fertility and other health-related benefits. This is a great opportunity for companies thinking about distribution.
- If you invest in the space, index every credible femtech deal. You should be able to get great returns by “homesteading” femtech in European tech.
🌐 Players & Companies
(nutrition and fitness, mental health, sexual wellness)
- Emjoy (€3.5M)
- Peanut ($17M)
- Gazella (€200k)
- Ferly ($1.5 million)
- FEMPO (N/A)
- Cocoro(£362k,100 throughCrowdcube)
- Callaly (€7.3m)
- Freda (N/A)
- Moody Month (£900K)
- Brarista (£20K)
Pregnancy & Fertility
(maternal and post maternal-related health conditions, breastfeeding)
- Apricity (€8.8m)
- Coroflo (€3.2m)
- Elvie (€45m)
- Velmio (N/A)
- LactApp (N/A)
- Bonzun (N/A)
- Vitrolife (€18.5m)
- Anecova (€4.3 million)
- WOOM Fertility (€2.1 million)
- Mojo ($1.8M)
Healthcare & Diagnostics
(Diagnostic tests & screening, disease management, menstruation.)
- Lattice Medical (€2.3m)
- Aspivix ($7.9M)
- Kheiron (€32m)
- KaNDy Therapeutics (£25m)(Bought by Bayer in August 2020)
- Juno Bio (N/A)
- Daye (N/A)
- Gynica (N/A)
- Peppy (€2m)
- MobileODT ($26m)
- Syrona ($678.9K)
(menstruation tracking, at-home fertility monitoring.)
- Cirqle (€1.6m)
- Freda (N/A)
- Super Izzy
- Grace Health (€2.3m)
- Clue (€27.4m)
- Ava (€42m)
- Natural Cycles (€34m)
- Inne (€8.8m)
- Pexxi (N/A)
- Grace Cooling (£360k)
- JME Ventures (invested in Emjoy)
- Nauta Capital (invested in Emjoy)
- EQT Ventures (Invested in Peanut)
- Index Ventures(Invested in Peanut)
- Female Founders Fund
- Kamet(invested in Apricity)
- Atomico (invested in Kheiron)
- The Case for Her (invested in Clue)
- Bethnal Green Ventures (invested in Syrona)
- Mosaic Ventures(invested in Clue)
- Greycroft Partners (invested in Kheiron)
- Hoxton Ventures (invested in Kheiron)
- Connect Ventures (invested in Kheiron)
- The Family (Invested in Fempo)
- Ada Ventures(Invested in Juno Bio)
- Vostok New Ventures (invested in Grace health)
- Blossom Capital(Invested in Inne)
- 4FO Ventures(invested in Aspivix)
- Impact Ventures (invested in Elvie)crun
- Octopus Ventures (invested in Elvie)
- Cambridge Angels (Invested in Pexxi)
- Aletta Angels (no investment in European companies)
- Sophia Bendz (invested in Grace Health)
- Fabrice Grinda(invested in Clue)
- Brigitte Mohn(invested in Clue)
- Christophe Maire (invested in Clue)
- Nicole Junkermann (invested in Elvie)
- Louise Samet (invested in Grace Health)
- Lutz Haase(Invested in Super Izzy)
- Laura Gonzalez-Estefani (Invested in Woom)
- Jesus Monleon (Invested in Woom)
- Bérénice Magistretti (invested in August)
- BioInnovation Institute
- Eve — Femtech Hub
- Startupbootcamp Digital Health Berlin
- Venture Kick (invested in Aspivix)