Femtech Venture Capital: Trends, Top Investors, and Opportunities

Daniel Olmedo Nieto | Co-Founder @ EasyVC | Forbes 30 Under 30 Europe

Not so long ago, women’s health was often overlooked in both medical research and the startup world. Today, things are changing fast. The rise of femtech—technology focused on women’s health—has caught the attention of investors around the globe. In 2023 alone, femtech startups raised over $2 billion worldwide, a sign that this sector is not just a buzzword but a real force shaping healthcare’s future.

But what’s driving this growth? There’s a growing recognition that addressing issues like reproductive health, menopause, maternal care, and chronic conditions that largely affect women can lead not only to better care, but also to major business opportunities. As more venture capital flows into femtech, new products and services are coming to market, shifting taboos and closing gaps that have existed for decades.

In this article, we’ll explore the current trends in femtech venture capital, spotlight leading investors, and look at the opportunities and challenges that make this space so dynamic. Whether you’re an entrepreneur, an investor, or simply curious about the future of women’s health, understanding the femtech VC landscape is essential right now.

What Is Femtech and Why Investors Care

Defining Femtech

Femtech, a term coined to spotlight technology addressing women’s health, covers everything from reproductive care and menstrual health to menopause, fertility, gynecological disorders, and chronic conditions that disproportionately affect women. Unlike generic health tech, femtech zeroes in on needs long overlooked: solutions for endometriosis, pelvic floor health, personalized contraception, maternal well-being, and much more.

Market Size and Growth

Femtech is no longer a niche. Estimates peg the global femtech market’s value around $60 billion by 2027—fueled by digital health adoption, shifting attitudes toward taboo topics, and a generation of women seeking proactive control over their wellness.

Unlike many health sectors, femtech’s customer base is vast—over half the world’s population. The pace of innovation, direct-to-consumer technology, and massive unmet needs create an environment that helps startups scale fast, driving strong interest from forward-looking investors.

Key Health Challenges and Gaps

For decades, research and funding sidelined women’s health concerns. Conditions like polycystic ovary syndrome (PCOS), postpartum recovery, and perimenopause remain underserved, with products and services often designed with male bodies as the default. Femtech ventures aim to close these gaps—improving care, access, and outcomes for millions globally.

This groundswell of innovation, market potential, and urgency translates into unique opportunities for venture capitalists ready to support the next generation of category leaders. But what does the current investment landscape look like, and how are venture firms positioning themselves to capitalize? Let’s explore the recent shifts shaping femtech investment today.

The Femtech Venture Capital Landscape

Recent Investment Trends

In the last five years, femtech has moved from the VC fringe to the foreground. Funding rounds have grown in both frequency and size, despite overall market slowdowns. In 2021 alone, femtech startups raised over $2 billion globally, with growth fueled by increased awareness of women’s health needs and a new generation of women-led funds. Investors are not just betting on reproductive health anymore, but on menopause, pelvic care, mental health, and digital therapeutics targeting women’s unique biology.

Stages of Funding in Femtech

Most femtech startups still enter the market via seed and Series A funding, but later-stage deals are gaining traction. Companies such as Maven Clinic and Elvie have reached maturity, attracting Series C and D investments from both sector-focused VCs and generalist funds. This signals growing confidence, as early-stage risk is replaced by data-backed evidence of market fit and impressive returns.

Comparing Femtech to Other Sectors

Though femtech remains undercapitalized compared to broader healthtech or digital health, its year-on-year funding outpaces most adjacent sectors. Founded firms are leaner, with a strong track record of capital efficiency out of necessity. Valuations tend to be less inflated, giving investors more attractive entry points while granting founders room to prove impact and scalability.

Understanding who’s backing this wave of innovation is key to spotting opportunities and anticipating the next big shifts, so let’s take a closer look at which VC funds and investors are shaping femtech’s future.

Major Femtech VC Funds and Active Investors

Noteworthy Global VC Funds Backing Femtech

Some funds have distinguished themselves as early movers, shaping the femtech ecosystem. Portfolia stands out, managing dedicated women’s health funds and consistently backing startups from fertility tech to menopause care. Female Founders Fund is another trailblazer, supporting diverse teams driving change in reproductive health, pregnancy monitoring, and mental wellness. BBG Ventures, with a gender lens approach, invests in digital health firms challenging the status quo, often participating in seed rounds for first-time founders. Meanwhile, Forerunner Ventures has championed consumer health platforms, nurturing companies that bridge everyday healthcare gaps for women.

Angel Investors Making an Impact

Individual backers have become catalysts for progress, sometimes even before traditional VCs catch on. Anne Wojcicki, co-founder of 23andMe, has invested in genomics-driven women’s health startups. Halle Tecco, founder of Natalist and Rock Health, actively invests in companies at the intersection of healthtech and women’s needs. Maxine Room and Dr. Eleonora Harwich are also known for supporting femtech founders, leveraging their expertise to accelerate traction and open doors to larger syndicates. Their influence often helps startups gain credibility and access crucial early capital.

Regional Hotspots for Femtech VC

The United States leads in deal volume, with New York and San Francisco as primary hubs for femtech funding. In Europe, cities like London and Berlin have emerged as hotbeds of femtech activity, with funds such as MMC Ventures and LocalGlobe backing innovators in menstrual health, chronic pain solutions, and sexual wellness. Tel Aviv’s ecosystem is gaining attention too, thanks to a surge in local accelerators and the support of Medtech venture arms. Across Asia-Pacific, Singapore and Sydney are coming up fast, buoyed by government grants and a new wave of regional investors keen on digital health breakthroughs for women.

While knowing the most active players is key, understanding why some startups break through while others stall is just as important—especially when funding biases and systemic barriers still persist in the space.

Barriers and Bias: Overcoming Challenges in Femtech Funding

Common Investor Misconceptions

Femtech startups often face skepticism rooted in misunderstanding. Many investors underestimate the market size, wrongly assuming that solutions for women’s health address only a “niche” audience. In reality, these ventures serve half the global population. Some dismiss femtech products as too specialized, failing to see that pain points like period care, fertility, and menopause have universal demand and business potential.

Another stumbling block is technical misunderstanding. Investors unfamiliar with reproductive health or hormonal science may avoid due diligence, overlooking the robust science behind these companies. These gaps mean innovative startups sometimes struggle to explain their value in a room of unconvinced backers.

Gender Bias in Venture Capital

Gender imbalance in venture capital goes beyond statistics. The majority of VC decision-makers remain men, which affects which problems are recognized as “big enough.” Female founders pitching solutions for periods, pelvic health, or breastfeeding encounter awkwardness—or outright dismissal. There are subtle cues too: questions about “market readiness” are rarely asked of male-focused healthtech.

This bias feeds a feedback loop—fewer female decision-makers leads to fewer femtech deals, which reinforces misconceptions about the sector’s potential. In 2023, just over 2% of VC dollars went to female-only founding teams, despite research showing women-led health startups tend to outperform financially.

Breaking Taboos and Changing the Narrative

Many femtech founders face an uphill battle against social taboos. Words like “vagina,” “menstruation,” or “sexual health” are still whispered in boardrooms. As a result, breakthrough innovations ship with softened language or face online advertising bans. Investors who avoid “uncomfortable conversations” risk missing out on some of the most creative, transformative companies in health.

But the landscape is shifting. Grassroots communities and advocacy groups have made femtech more visible in media and online. Some VCs have begun to prioritize “taboo” sectors, recognizing that markets ignored by tradition can become tomorrow’s unicorns. As conversations about inclusive health accelerate, smart investors are learning to spot untapped value where others see only taboo.

Understanding these barriers—and the strategies used to overcome them—shows just how resilient and creative femtech founders can be. This persistence reveals why more investors are now taking notice and the kinds of opportunities poised to reshape the sector in the coming years.

Opportunities Ahead: Where Femtech Venture Capital Is Headed

Emerging Trends and New Markets

The next chapter for femtech investment is set to unfold beyond reproductive health. Menopause, heart health, chronic pain management, and digital therapeutics are entering the spotlight. Investors are also keeping a close eye on underserved demographics: solutions for trans and non-binary health, global maternal health, and affordable diagnostics for emerging markets. As taboos fade, these areas promise explosive growth beyond the traditional femtech base.

Areas Ripe for Innovation

Femtech’s future is being shaped by advances in biosensors, AI, and telemedicine. Period tracking apps paved the way, but now the field is hungry for products that connect physiological data with actionable insights—think hormone wearables, personalized fertility predictions, or digital therapeutics for PCOS and endometriosis. Innovations targeting preventive care, mental health integration, and low-cost at-home lab testing stand to capture not just attention, but serious funding.

How Founders Can Stand Out to VCs

With more capital flowing into femtech, differentiation has become critical. Startups that ground their solutions in robust clinical research, clear health outcomes, and genuine community engagement see stronger traction with investors. Storytelling remains vital: founders who can articulate lived experiences and untapped market demand make a stronger case than those relying on buzzwords or trends alone. Strategic B2B partnerships—in insurance, pharma, or retail—are also giving femtech companies a decisive edge.

As new players enter the field and fresh capital fuels innovation, it’s never been a better time for founders and investors to discover the people, platforms, and insights shaping tomorrow’s decisions.

Resources for Femtech Entrepreneurs and Investors

Investor Directories and Networks

Finding the right backers can be tough, but femtech-focused directories and networks make the search more targeted. The Femtech Insider Investor Database offers regularly updated lists of active funds, angels, and accelerators with a track record in women’s health. Women of Wearables (WoW) maintains a global network that connects founders with investors, corporates, and mentors across the ecosystem. Angel networks like Portfolia and Golden Seeds prioritize femtech startups and can provide both capital and expertise.

Events and Pitch Competitions

Pitching in front of the right audience is half the battle. The FemTech Forum and Women’s Health Innovation Summit are two annual gatherings where startups can meet VCs, corporates, and industry veterans hunting for deals. Accelerator Demo Days from programs like Techstars Future of Longevity or Bayer G4A often spotlight women’s health startups ready to scale. Femtech-specific pitch competitions—like FemTech Lab Demoday—are entry points for feedback, visibility, and early-stage investment.