Femtech is on the rise. Chances are you’ve heard it referenced before, and if not, you’re about to get a quick lesson on the future of femtech.
So … what is femtech?
Femtech (or female technology) is a term applied to software, products, and/or services that use technology focused on women’s health. For example, this could include: fertility solutions, pregnancy care, reproductive health, sexual wellness, etc.
Give me some examples.
If you’re an avid StarterNoise reader, you’ll remember some of our most recent articles featuring femtech inspired startups. Quinn, Elektra Health, WooMorePlay and EVVY are all leading the way in providing female-focused technology, products, and services for the betterment of women’s health.
What are the benefits of supporting femtech?
Diversity and inclusion are needed in the startup space. In 2020, only 2.3% of venture capital went to women. What’s even more shocking? White men control 93% of venture capital investments.
By supporting femtech, you are helping a highly underinvested industry grow. Women have been fighting for equality for centuries. And let’s face the facts, women make up nearly half of the world’s population and deserve equitable access to female-focused health care.
What’s the future of femtech?
Femtech has a bright future. In 2021, digital health startups that target women reached $1.3 billion, already almost doubling the $774 million raised in all of 2020. As more female-backed startups enter the femtech space, we have hope that women’s health needs will be addressed and century-old stigmas will be eliminated. There is clearly no shortage of talent in the femtech space, but we need to be supporting women-backed startups and investing in these ventures so they can take their ideas to the next level.
If you’re interested in checking out some incredible femtech startups, read Rock Health’s report here.
We are excited to see where the femtech space grows in the next couple of years. Tweet @StarterNoise to tell us which femetch companies you are most interested in.