Digital contraceptive techniques have been on the receiving end of bad press recently after Swedish company Natural Cycles was described as “misleading” by the UK’s advertising body, and a number of women complained about becoming pregnant while relying on the app.
But that hasn’t stopped the industry from thriving, with the launch of Moody Month, which tracks hormones and menstrual cycles , and Flo Health, an ovulation calculator, being valued at $200m in the same week, suggesting there is still massive demand among women for products which are invariably described as femtech.
Catering to a market that market analysts Frost & Sullivan have forecast will be worth $50bn by 2025, femtech is the subset of apps and gadgets geared at enhancing women’s wellbeing. Currently made up of at least 200 startups worldwide, the companies focus solely on women’s health and are primarily managed by female CEOs and innovators.
Woom, a fertility-tracking app that recently featured in Forbes’s list of 60 female-led startups, was started by Clelia Morales and Laurence Fontinoy, who left their jobs at eBay and Google respectively to launch the app after facing fertility issues themselves and raised £2mthrough crowdfunding.