Investment in women’s health solutions has reached an all-time high, hitting $2.6 billion according to the latest report from Silicon Valley Bank (SVB) – a near $1 billion increase in 2023. This rise in funding is expected to continue through 2025. The pace of growth is already evident: in April alone, at least five significant deals were reported. Among the companies that raised money are Future Family which secured a $400 million financing programme to expand access to fertility treatment; baby formula company ByHeart raising $72 million to scale its operations, and Calla Lily obtaining £1 million in funding to support clinical trials of its progesterone delivery device for treating threatened miscarriage.

Several key factors are driving this surge in investment. One standout is the success of London-based Flo Health. The women’s health app suppressed a $1 billion valuation last year, making it Europe’s first femtech unicorn. It sent a clear message to investors: femtech is not a niche – it’s a vast, underserved market with global relevance and commercial viability.

Another pivotal development was the acquisition of British femtech pioneer Elvie – renowned for its silent, wireless breast pumps – by its US competitor, Willow. The deal reflects two crucial shifts. First, it marks the continuing maturation of the femtech sector. Second, it addresses a longstanding concern among investors: whether the industry can deliver real returns. With demonstrable exit opportunities like this, confidence in the sector’s long-term prospects is steadily growing.

Other drivers are emerging, particularly in the UK. The government has pledged a £13.9 billion budget to the Department for Science, Innovation and Technology (DSIT) for the 2025–2026 financial year, with a focus on research and innovation. It’s highly likely that a portion of these funds will be directed towards women’s health solutions. Simultaneously, proposals to create pension ‘megafunds’ could funnel substantial capital into high-growth sectors, infrastructure, and regional development – strengthening the investment landscape for femtech and adjacent industries.

Yet, it’s not all smooth sailing. Despite this growing momentum, the femtech space continues to grapple with serious challenges. One of the most urgent is consumer trust. Concerns about data privacy are increasingly shaping the narrative, particularly in the context of health-tracking apps. A recent study by researchers at King’s College London and University College London (UCL) analysed 20 femtech apps and found that many pregnancy-tracking services asked users to disclose deeply sensitive information, such as past miscarriages or abortions. In addition, some did not have data deletion options, or made it difficult for users to remove personal data once submitted. These present a serious risk in countries where abortion is criminalised. In the United States, for example, several states – including Texas, Alabama, Oklahoma, Arkansas, Idaho, and Missouri – enforce total or near-total abortion bans, with some carrying criminal penalties. In such contexts, data security is not just a feature – it’s a necessity.

Access to capital also remains a sticking point. Despite the fact that over 70% of femtech startups are founded by women, male-led companies continue to receive a disproportionate share of the funding. In 2022, 57 male-owned femtech companies raised $731 million, while 105 female-founded businesses received just $408 million. The imbalance is stark – and telling. Flo Health, for instance, is often cited as a femtech success story, yet it, too, is led by male founders. The irony hasn’t gone unnoticed and has sparked broader debate about the campaign

So what’s the way forward? First, visibility is key. We need to give female founders more opportunities to share their stories – on stage, in the media, and across social platforms. Showcasing how they run their businesses and the impact they’re making in both business and technology spaces can help shift investor perceptions and attract the capital they deserve.

A great example of this in action is Soula. Its founder, Natalia Miranchuk, frequently participates in entrepreneurship events and openly shares her journey of building the app in major media outlets. She has been featured in Business Insider, WIRED, and other prominent publications. Her story not only inspires other women to launch their own ventures but also demonstrates to investors that female-led businesses represent compelling, high-potential opportunities.

Addressing common concerns like data privacy is essential too. In 2023, the period-tracking app Clue launched the "#FromBerlinWithSolidarity" initiative to highlight its commitment to user privacy and reproductive rights. The campaign featured bold billboards across the US and witty posters in Berlin. As co-CEO Audrey Tsang explained, the goal was to spark a broader conversation about the importance of privacy rights as a foundation for equal access to healthcare.

In addition to public messaging, the company also revised its approach to handling user data. “We speak with users every week, and one of the core pieces of feedback we hear is, ‘I give you this data – can you give me something back?’” said Tsang in one of the interviews. In response, Clue introduced data visualisations that help users better understand how their personal information is used, empowering them with clearer insights and fostering a stronger sense of trust.

Finally, companies can work to build a stronger sense of community within the femtech space. Mentorship, peer networks, and knowledge-sharing platforms can empower female entrepreneurs to navigate challenges, grow their ventures, and lead with confidence. By supporting one another and pushing for systemic change, the femtech community can help shape a future that is not only more inclusive but genuinely transformative – for women and for the broader health ecosystem.

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