Women’s health has been a priority issue for academia and the public sector for decades. However, the number of female entrepreneurs in the private sector has been relatively low. Only a handful of medical startups run by women have even seen the light of day (and FDA approval).
However, that situation is changing. In 2024, numerous female-led companies are entering the limelight, changing the perception of the industry.
Take Juniper, for instance. Founded in London, UK, in 2023, this firm aims to offer financial insurance around reproductive medical procedures, aimed at giving women peace of mind. It currently has more than $1.9 million in funding to set up its offices, dealing with issues like cancer, menopause, sexual health screening, polycystic ovarian syndrome, and endometriosis.
Nearby is Ru Medical, another London-based firm. The company is the developer of a smart medical device called Unpause that automatically provides relief from hot flashes for menopausal women. Developed by geeks, boffins, and geniuses at King’s College London, it is helpful for practitioners across the board, from menopause specialists to general practitioners looking for a viable solution to their patients’ problems.
The company hasn’t disclosed how much funding it has received thus far. However, the figures are thought to be substantial because of the support from Singaporean firm, Scalare Technologies.
Keeping Women’s Health Startups Safe
However, any woman considering following in Ru Medical’s footsteps should be careful. “Women’s healthcare startups must follow medical device cybersecurity protocols to be on the safe side,” says Blue Goat Cyber, a company that manages hospital equipment and ensures practitioners can comply with data protection regulations. “The EU MDR and FDA requirements can be strict, which is why so many of these firms have to put extra resources into this aspect of lifecycle management, well beyond the development phase.”
Ru Medical is not even close to being the only woman-led firm building these medical devices. KoKo Medical is also doing something similar. It currently has a massive $19 million in funding to develop technology to reduce deaths among postpartum women (which currently stands at more than 150,000 per year). It believes it can develop a catheter-based system that can reduce the risk of hemorrhage after birth by encouraging different types of uterine contractions.
As yet, only very little is known about the firm since it is operating in “stealth mode.” However, it expects to receive approval for its device in the coming months, allowing it to expand far beyond its existing level.
Vyld is a German company founded in 2021 in Berlin. It focuses on creating the world’s first biodegradable tampon from seaweed, eliminating the pesky plastic content that makes these products unfriendly to the environment. The goal is to prevent the transmission of microplastics into the human body or the environment.
According to sources, Vyld now has a seven-figure sum of money from investors, including the EU and German government, to make its vision a reality. Eventually, its tampons will become part of its algae-based product universe, which it also wants to include nappies.
FemTherapeutics is another exciting startup focusing on women’s health. It is attempting to resolve female pelvic organ disorder, a condition that affects around 33% of women, using 3D printing.
The idea is pretty simple: use a 3D printer to create custom prosthetics and exercise devices that women can use to improve pelvic floor tone. The intra-vaginal concept will reduce the risk of trial-and-error fittings and improve the effectiveness of the devices once installed. Women won’t need to cycle through various options until they find one that suits their anatomy.
FemTherapeutics has thus far managed to obtain around $2.3 million from the Canadian market. Now it is looking to study the device in clinical trials, aiming for FDA approval in the coming years for the concept.
“The development of these technologies is exceptionally exciting,” says Blue Goat Cybersecurity. “The fact that the Internet of Things is having such a profound effect is striking in the medical profession.”
Gabbi is the first US healthcare startup for women. Founded in 2019, it is aiming to use artificial intelligence to boost breast cancer screening using bespoke technologies. The idea is to give women at-home test kits, collect their results, and then compare them with a bank of preexisting anonymised data from other cases. The hope is to improve matching and allow women to screen themselves with high accuracy instead of solely relying on annual mammograms.
So far, the accuracy of the device is around 90%. But Gabbi says it wants to improve this further with additional seed funding, matching the accuracy obtained by standard medical departments.
Not to be left out, Amsterdam in the Netherlands also has a few women-focused healthcare startups that are exciting people. One of these is Freya Pharma Solutions founded in 2021. It aims to treat female sexual arousal disorder, or situations where women don’t have an interest in sex, similar to what viagra does for men. The idea is to target pathways that increase a sense of desire, encouraging more fun in the bedroom.
The company already has more than $8.5 million in funding and believes that it can create a viable product that will level the playing field. The firm hopes that it will improve relationships and give women more freedom and energy into their older years.
Finally, Leia is a Swedish startup founded in 2021. It offers an app designed to improve postpartum depression, a common symptom that can occur in one out of three women. The idea is to offer a kind of comprehensive digital care women can use to manage the most difficult weeks and months after birth, giving them the support they need.
Ultimately, activity in this space is fierce and improvements are being made all the time. These startups recognise that women’s health needs differ considerably from men’s, which is why so many pilot projects and studies are under development.
How the situation will develop with emerging technologies like AI is anyone’s guess. But for now, things look promising.
