The last years have seen a number of exciting startups securing venture capital and developing innovative products that include healthcare wearables. FemTech is the name for the women-led, women-designed new product startups, and the success of these traditional and consumer health care products can be summed up in two words: market potential.
Women’s healthcare has been underfunded by the research and development world, but the last few years have seen a number of innovative products brought to market. While much of femTech is focusing on reproductive technology and sexual health, such as fertility startups that are helping young women harvest and save their eggs for later childbirth decisions, to a birth control telemedicine and delivery model, to apps that are as sensitive as the birth control pill for contraception, not all the focus is on reproductive health.
Cardiovascular disease remains the number one killer of women worldwide, and Bloomer Tech is developing a number of wearables with biometric sensors to collect and analyze heart heath data. The data can be used to guide real-time medical decision making, while collecting big data amounts of women’s heart health data for research. The material developed has flexible, washable circuits embedded in textiles, a technology that will allow a number of interesting developments in the ability of wearables to collect biometric data. Their first product is a bra with the flexible circuits embedded to collect data on heart disease risk factors. It communicates to an app on a smartphone via Bluetooth. Most important, the user decides on how much and what data can be shared with a medical professional, researcher, or other person.
Bellabeat, the maker of LeafUrban jewelry, is leading the jewelry/design/health monitoring pack. The beautiful leaf-shaped jewelry looks nothing like a fitness tracker, and provides several important tools for women hoping to find a better tool to monitor health: it helps track menstrual periods, so women can keep track of fertility and contraception, and it monitors signs of stress and offers guided meditation. Like other health and fitness devices, it monitors activity and sleep, and gives the user data.
However, the largest amount of VC funding remains with startup companies focusing on a product that has both cachet and market potential. Many, or most, new products focus on women’s sexual and reproductive health. Elvie raised $6 million for a small device to help women do Kegel exercises properly. Women’s health care startups in FemTech have raised, to date, over $1.1 billion for research and development. Continue reading