In this news:
Femly CEO Arion Long and 100KM Ventures Managing Partner Shalanda Armstrong
100KM Ventures and Femly
FemTech is not just about periods and pregnancy, it’s about data sovereignty, community health, and economic power. The term encompasses software, diagnostics, products, and services focused on women’s health, and is on the rise with a global market expected to surpass $103 billion by 2030, according to Deloitte. Funds like 100KM Ventures are continuing to invest in the future of work and health, knowing that game changing FemTech entrepreneurs like Arion Long, CEO of Femly, the world’s first smart touchless pad and tampon vending machine are poised to gain a fair share of this market.
The Breakdown You Need To Know:
During Women’s Health month it’s important to highlight that Black women face some of the worst health outcomes in the U.S., with KFF finding they have the highest maternal mortality rates to disproportionate misdiagnosis in reproductive issues like fibroids and endometriosis. FemTech has the power to bridge these gaps through culturally informed tech, but only if those most affected have a seat at the innovation table. This creates an urgent need for more relevant solutions, and becomes a ripe investment opportunity for those who understand these nuanced markets.
Femly Ecoflow™ Dispenser
FemTech startups like Femly, with its game-changing innovation that is increasing period care access in restrooms across the nation, and is backed by Pharrell Williams’ Black Ambition, Beyoncé’s BeyGOOD Foundation, and Google (GOOG -7.51%), is showing what’s possible. Despite funding challenges, Long’s company continues growing because it meets a specific, underserved women’s healthcare need.
“We wanted to think about what innovation looked like and how we could merge social impact with hardware to create a smart feminine hygiene device. Very quickly we found out that we needed everything from engineers and access to capital, that our early traction with our pre-sales helped us secure venture funding” said Long to CultureBanx.
Diverse leadership in FemTech leads to products that actually serve the full spectrum of women’s health needs, from fertility tracking and tele-gynecology to menopause support and period poverty solutions. Even as women’s health innovation gains traction, the capital flowing into it remains uneven. Not to mention that FemTech investment represents just 2% of the health tech sector. This gap exists even though women spend twice as much on healthcare as men.
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