Issue #84 – Why women owned startups are better bet 💃

Happy FemTech Friday 

In a recent BCG report, it was revealed that women earn about 80 cents for every dollar earned by men. The study aimed to compare companies founded by women with those founded by men, exposing stark differences in financial backing. 

Out of 350 companies studied, only 92 were founded by women. Yet, despite their potential, they received significantly less financial backing. 💰

Here’s the breakdown:

• Companies founded by men: $2.12 million

• Companies founded by women: $935,000

That’s less than half the investment! But wait, there’s more. 

Despite the funding gap, companies led by women actually outperformed their male-founded counterparts. Over five years, they generated 10% more revenue, totaling $730,000 compared to $662,000

According to PitchBook Data, since 2016, companies with women founders have received only 4.4% of venture capital deals, and a mere 2% of all capital invested. It’s time to bridge the gap and support women entrepreneurs!

It’s time to bridge the gap and support women entrepreneurs! This is why the work we are doing is so important: Our Founders Cohort program aims to assist founders in developing strategic business growth plans. ​​Mentorship is outdated; we need real funds to grow and scale. 

Waitlist opens soon, Let’s build together 👯 

Your Friend

Navneet 

Now we have a strong family of 40,000 subscribers and 100,000 listeners on our podcast from all around the world. Feeling beyond grateful for the love and support and it feels amazing building this community from scratch. Guess what ? We’re just getting started, Future is women’s health. 🧜‍♀️

• Infinix Services Pvt Ltd, a Mumbai based AI-driven healthcare solutions provider owned by Tandon Group received a significant investment and stake from US based KKR group. The details of the transaction largely remained undisclosed.

• Allez Health Inc., formerly known as Zense-Life Inc., an emerging biosensor venture founded by proven experts in the continuous glucose monitoring (CGM) space, announced a $60 million Series A+ financing. 
• Genmab has concluded the previously announced acquisition of clinical-stage biotechnology company ProfoundBio in a $1.8bn cash transaction. ProfoundBio specialises in the development of antibody-drug conjugates (ADCs) and technologies for cancer treatment.
  
• Limula, a company that aims to simplify cell therapy production with novel technology has raised USD 6.8 million to advance its automated cell therapy manufacturing solution.   
• Vantis Vascular closed a $5 million SAFE (Simple Agreement for Future Equity) financing round.  Vantis plans to use the funds to advance its interventional cardiology offerings. The company develops the CrossFast integrated microcatheter guide extension system and the CrossShock intravascular lithotripsy (IVL) system.
• Ygion Biomedical, a Vienna, Austria-based company dedicated to developing individualized neoantigen-based cancer vaccines, raised €15M in Series A funding.

• Noise has acquired SocialBoat, an AI-powered menstrual wellness app, to bolster its health wearables segment, with a particular focus on enhancing the Luna Ring.
• The latest findings from the Global Burden of Disease Study 2021 forecast that global life expectancy will increase by 4.9 years in males and 4.2 years in females between 2022 and 2050. This increase is expected to be largest in countries where life expectancy is lower, contributing to a convergence of increased life expectancy across geographies. 
• The growing promise of cancer vaccines. These vaccines, jointly developed by pharma giants Moderna and Merck, have been shown in trials conducted so far to be significantly more effective in combination with immunotherapy than immunotherapy alone in preventing both the relapse of melanoma a type of skin cancer and non-small cell lung cancer after the tumours had been surgically removed.
• A Leeds MP has called for endometriosis lessons in schools to raise awareness of the condition. Endometriosis affects more than one and a half million in the UK, and almost 200 million globally. The condition, which can develop in women of any age, occurs when tissue similar to the lining of the womb grows in other places, such as the ovaries and fallopian tubes.
• The York-based lateral flow research and manufacturing firm Abingdon Health has announced the launch of the Boots own-brand, saliva pregnancy test across the UK. Abingdon Health and Boots, in partnership with Salignostics and Crest Medical, have launched the first ever saliva pregnancy test under the Boots own brand range.
• Cancer incidence is rising at an alarming rate among younger adults. According to new research presented at a meeting of the American Association for Cancer Research, faster biological ageing could be the driving force. While chronological age refers to how long a person has been alive, biological age denotes the rate at which a person’s body is actually ageing.
• An international, multisite phase 3 trial published in the Lancet Neurology has found that continuous, 24-hour levodopa delivery through a subcutaneous infusion pump is safe and effective at reducing symptoms for longer periods of time. For the trial, 381 patients with Parkinson’s disease in 16 countries were randomised to receive continuous subcutaneous infusion of levodopa, or oral levodopa.
• On the hottest days, risk of hospitalisation for people with metabolic disorders such as those of sugar and blood pressure, and obesity, almost doubled as compared to days recording comfortable temperatures, a new study has found. The research analysing hospital admissions related to high temperatures during summer over more than a decade in Spain found that extreme heat impacted people with these conditions the most.
• An unusual form of cell death could lead to a Covid patient’s lungs suffering extreme damage, potentially resulting in life-threatening conditions such as inflammation and acute respiratory disorders, according to new research. The ability to inhibit this unusual form of cell death — ferroptosis — can offer doctors new ways of to treat Covid-19 lung disease, the study suggested.
• The US medtech company BD has announced the FDA approval for the use of self-collected vaginal specimens for HPV testing when cervical specimens can’t otherwise be obtained. The approval is hoped to allow women to self-collect vaginal specimens for HPV testing in healthcare settings, which could include non-traditional locations, such as a retail pharmacy or mobile clinic.
• NatureFit, a health tech platform offering holistic wellness solutions, has signed a Master Service Agreement (MSA) with Aditya Birla Wellness, the health and wellness division of the Aditya Birla Group, to offer alternative healthcare solutions through the latter’s Active Health app and website- based platform.

• BCOS Foods published a thoughtware titled “Millets- your alley in Summer”!
• Hormone Reset published an carousal series  titled “Tell Tale Signs of Blood Sugar Issues”
• Niramai Health Analytix will be participating in Viva Technology, Europe’s largest startup and Tech event and will be in action at Microsoft Booth Hall 1

• The US women’s health start-up Watkins-Conti has obtained 510(k) clearance from the US FDA for its stress urinary incontinence device. Yōni.Fit is a device intended for the temporary management of urine leakage caused by stress urinary incontinence (SUI) in women 18 years and older.
• MediSpend, a global technology company providing solutions for the life sciences industry, announced its acquisition of MedCompli, a compliance software solutions provider focused on simplifying life science compliance management. 
• The Australian health management app Ovum has entered its pilot phase as it looks to “reshape” women’s health by closing the gender health gap. Ovum seeks to develop Australia’s first-ever longitudinal AI women’s data set with the aim to address the gender health gap and transform how women experience healthcare.

• The Karnataka Ayush department and the Karnataka Ayush Drug Manufacturers Association (KADMA) are of the view that the risk-based inspections can bring in transparency and accountability. By conducting inspections based on risk assessment, resources can be allocated more efficiently, focusing on areas where there is a higher likelihood of non-compliance or risk to public health.
  
• The Indian Council of Medical Research (ICMR), one of the world’s oldest and largest medical research bodies, is holding a specialized workshop on the application of biostatistics in medical research at the ICMR-National Institute of Research in Tribal Health (ICMR-NIRTH), located in Jabalpur, Madhya Pradesh.

• Do I Need That Antibiotic?: If it’s not medically necessary, you may want to consider the risk of antimicrobial resistance.
• Are Ingrown Hairs Preventable? The dreaded bumps can occur anywhere you shave, wax or pluck. Here’s how to avoid them.

See you next Friday, friends 👋
Navneet

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