Issue #67 – Is India ready for FemTech?

Hello and welcome to the 67th edition of your go-to source for weekly updates on women’s health innovation and FemTech.

HAPPY 75TH REPUBLIC DAY🇮🇳

It’s true, that women-led startups faced a funding decline last year, with femtech companies seeing a particularly sharp drop. This coincides with a general shift in the VC ecosystem towards industries traditionally dominated by men, leaving us to ask, The question: 

Is India ready for FemTech?”, but rather, “How do we get India ready?”.

The answer lies in innovation, collaboration, and strategic shifts.

Yes, 2023 saw a dip compared to pre-pandemic highs, with overall funding falling below 10% of the total VC pie in India.

Here’s a glimpse into the FemTech funding trajectory:

• 2021: $71.2 million
• 2022: $98.4 million (38% growth)
• 2023: $26.8 million (73% decline)

It’s time to innovate beyond traditional models. Think about it: with a massive GDP of $3.1 trillion and a rapidly improving ease of doing business environment, India is ripe for FemTech disruption. Consumers are demanding science-backed, empowering solutions for their health needs, and FemTech holds the key to unlocking this vast potential.

Takeaways: Now is the time to double down on innovation. We must explore B2B models, forge strategic partnerships, and leverage consumer demand for science-backed solutions.

The future of FemTech is bright, and we are the ones who will shape it.

​​Onward, FemTech champions

Navneet 😉

• Bengaluru-based med-tech startup Healspan has raised Rs 1.2 crore in a recently concluded pre-seed funding round led by startup community-builder and accelerator PedalStart.
• Beauty products-focused e-commerce platform BuyEazzy has raised $4.25 Mn (INR 35.33 Cr) in a Series A funding round led by Info Edge Ventures.
• Indore-based telemedicine firm Medyseva Technologies, which is backed by a group of angels is in the process of securing an early-stage funding, to the tune of $1 Million.

• Cross-Border Impact Ventures closes Women’s and Children’s Health Technology Fund, surpassing $90 million for global impact.
• 3Daughters, a clinical development company fueling evolutionary healthcare for women, announces the closing of the first tranche of over $2 million in a Seed Round.
• Vyld, a startup developing radically sustainable, marine biodegradable and healthy period products from seaweed, closed its seed round with a seven-figure sum.

• New fertility treatments US biopharma company Granata Bio has secured US$14m in Series A funding to develop.

• New research has confirmed there had already been a substantial increase in emotional problems among young people even before COVID-19 and in recent decades.

• Children born prematurely have been associated with higher risks of having adverse neurodevelopmental outcomes, which can affect their behaviour and learning abilities, according to a study.

• According to the WHO, India loses 2400 years of healthy life for every 100,000 people to mental health issues. This study also estimates that between 2012 and 2030, India will lose an astounding USD 1.03 trillion from the economy.

• To collaborate on advocacy, outreach, training, research work, and support services for dementia care, NIMHANS entered into a Memorandum of Understanding MoU with the Dementia India Alliance (DIA).

• The Bill & Melinda Gates Foundation has announced its largest annual budget to date as it works toward the goal of a healthier, more prosperous world for al.

• A completely incisionless device that replicates metabolic surgery without making any cuts could surpass current technologies for managing conditions such as severe obesity and type 2 diabetes.

• A study found women who had access to medication abortion pills via a trusted primary care provider had a more positive experience than a clinic outside of their system.

• The UK government will roll out its long-awaited “pharmacy first” policy, through which patients suffering from various lesser ailments –  will be directed to their local pharmacy as their first port of call.

• A report from the Fawcett Society showed that one in 10 women who worked during menopause has left a job due to their symptoms and a quarter of employees experiencing menopause are likely to retire early because of it.

• Femtech Canada, a women’s health network initiative operated by the business accelerator Innovation Factory, has launched in Toronto, promising to create a more inclusive healthcare landscape.

• The Duchess of Edinburgh has said tampons and period pads should be kept “out of the closet”, as she sought to break down taboos surrounding menstrual health.

• The yearly cost of breast cancer to the UK economy could rise by almost 40 per cent to £3.6bn by 2034, a new report has shown.

• Maven Clinic and the British Standards Institution (BSI) have announced a partnership to provide BSI’s employees with menopause support.
• Future Fertility, the pioneer in AI-powered oocyte quality assessment, has announced a new strategic partnership with Eugin Group’s Spain-based fertility clinics.
• The US women’s health start-up Teal Health has announced a clinical trial for itself-collection device for cervical cancer.

• Dr. Geetha Manjunath of Niramai Health Analytix has set up an open clinic at the Indian Radiological and Imaging Association – IRIA 2024 event in Vijayawada.

• Allo Health organized its first Doctor Networking Event in Mysore, bringing together expert doctors in Urology, Psychiatry, and General Medicine.

• PeeSafe commemorated the National Girl Child Day with an impactful partnership with the SBI Foundation at Faridabad to discuss menstrual hygiene awareness for girls.

• Dr Pooja Kohli of HempStreet, on the occasion of National Girl Child Day, released a thoughtware titled “Physical and Emotional Impact of Dysmenorrhea on a Girl Child”.

The deadline to apply is March 15, 2024. 

Apply Now

• The Government of Goa announced the renewal of the MoU to continue the ongoing ‘Changing Diabetes Barometer’ (CDB) programme with the Novo Nordisk Education Foundation.

• Why Does Gen Z Believe It’s ‘Aging Like Milk’? -Some say they fear their generation is ageing more quickly than others. But as Gen Z-ers enter their late 20s, it’s more likely that they are simply getting older.

• Scientists discover potential fountain of youth within our bodies – Researchers discover a new way to fight aging-related diseases

• A minimally invasive, 10-minute procedure may restore the sense of smell in patients who suffer from long COVID-19.

• In a ground-breaking research endeavour, Israeli researchers unveiled potential strategies to combat necrosis, a form of cell death that plays a pivotal role in a myriad of fatal diseases, affecting hundreds of millions of people worldwide.

See you next Friday, friends 👋

[Sign up here to never miss on the latest updates.]