Femtech on a roll
Femtech outfit Flo Health has just picked up $12m in funding. The US start-up will use the cash to further develop its female health app that features a period and ovulation tracker, pregnancy and post-pregnancy modes, and birth control aides.
The firm says enhancements will focus on providing highly personalised experiences for based on user age, health goals and overall physical condition. It adds that its neural networks and AI-based algorithms improve cycle predictions while also detecting disturbing symptoms.
The Flo app has been downloaded over 60m times, with 22 million users using the app monthly, while the user base is growing at a rate of 4.5m installs per month. Over 4m women have got pregnant with Flo to date.
e-Overview: Frost & Sullivan reckons femtech could become a $50bn market by 2025.
“Women’s health is often sidelined as a niche market,” says the consultancy. “However, tides are changing and this can be attributed to the rise of the ‘she-conomy’, where women are not only playing an increasingly influential role across the healthcare continuum, but also have higher purchasing power.”