European femtech startups attracting venture capitalists
European femtech startups have already reached new heights for yearly venture capital (VC) funding. More than €339 million has been collected across 47 femtech deals so far this year—beating the previous peak of €325 million in 2021, according to financial data firm PitchBook. “Women’s health companies developing apps are attracting more capital than biotech or medical devices startups.”
“At the current pace, European femtech deal value is expected to reach €436.7 million for the year—more than double the amount raised last year”, the company says in a report.
Much of the year’s funding came from UK-based period-tracking app developer Flo Health giving the company a valuation of over $1 billion.
“Investor appetite for femtech seems to be concentrated on apps, with the year’s second-largest deal coming from Sweden-based Natural Cycles.” The startup has developed a birth control app.
“Startups developing app-based solutions for women’s health, such as fertility tracking and period management, typically have a broader addressable market than biotech or medical-device companies.”
“Faster development timelines and lower R&D expenses allow venture capitalists to tap into consumers’ appetite for female-focused products while minimising some of the risks.”
The largest femtech medical device round to close in Europe this year was for Paris-based May Health. The startup specialises in treating polycystic ovary syndrome.
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