What are the fundraising trends in the femtech market?
In our femtech market deck, you will find everything you need to understand the market
SUMMARY
We analyzed publicly disclosed equity rounds raised by pure-play femtech companies between January 2024 and July 2026. The tracker only includes disclosed rounds of $300K or more, and only companies where women’s reproductive, hormonal, pregnancy, pelvic, menstrual, fertility, menopause, or female-specific clinical care is the core business.
The femtech market is rebounding in the freshest period. Funding reached about $433M across 28 deals in year-to-date 2026, compared with about $275M across 24 deals over the comparable January through July 2025 period.
The rebound should be interpreted carefully. Full-year 2025 funding was about $596M, down from about $810M in 2024, so the femtech market had already cooled before the 2026 year-to-date recovery appeared.
Larger rounds are doing more work than deal count. Deal activity is up modestly in 2026, but total capital is up much faster, and the top three 2026 rounds captured roughly 52% of all disclosed capital.
The femtech market is becoming more late-stage in dollar terms. Series C, Series D+, and growth equity rounds captured most 2026 year-to-date capital, while seed rounds still represented a large share of deal count.
The market is maturing at the top and still experimental at the base. Large checks are going to clinical care models, diagnostics, regulated devices, maternity-risk tools, hormone platforms, and fertility infrastructure, while many seed rounds remain small tests of new women’s health theses.
Pregnancy Care Solutions and Hormonal Health Platforms are the clearest 2026 momentum categories. Pregnancy care reached about $141M in year-to-date funding, while hormonal health reached about $123M, led by scaled maternity and menopause-care platforms.
Fertility Care Platforms remain important but have lost near-term capital momentum. Fertility led full-year 2025 funding, but funding fell sharply in the comparable 2026 period, even though several fertility companies still raised.
North America is becoming the scale-financing center of the femtech market. It captured about 80% of year-to-date 2026 capital, while Asia-Pacific became more visible by deal count and Europe fell sharply versus the comparable 2025 period.
The strongest interpretation is that femtech is moving from a consumer-app label into a women-specific healthcare infrastructure market. Investors are paying up for companies that connect female-specific biology to clinical workflows, cost reduction, measurable outcomes, diagnostics, or regulated care delivery.
This chart, featured in our femtech market deck, illustrates how revenue is divided among customer segments in the femtech market
Is more or less capital going into the femtech market?
More capital is going into the femtech market in the freshest period, but the longer full-year comparison says the market had already cooled sharply before the 2026 rebound. Year-to-date 2026 disclosed femtech equity funding reached about $433M across 28 deals, up from about $275M across 24 deals over the comparable January through July 2025 period.
The year-to-date comparison is the right freshness signal because it compares the current incomplete year with the same calendar window last year. On that basis, femtech funding is up by roughly 57%, while deal count is up by roughly 17%, which makes the 2026 recovery meaningful but not evenly distributed.
The full-year comparison is the more reliable structural signal. Full-year 2025 funding was about $596M, down from about $810M in 2024, even though deal count increased slightly from 39 to 40. That means 2025 was not a collapse in company formation; it was a decline in capital intensity and mega-round contribution.
The practical takeaway is that the femtech market is recovering in 2026, but the recovery is still fragile because two rounds, Midi Health at $100M and Pomelo Care at $92M, explain a large share of the increase. The better interpretation is not a broad boom, but a rebound led by clinically credible follow-on winners.
For the full benchmark view behind this funding shift, see the full femtech market report.
Is femtech funding activity driven by more deals or larger rounds?
Femtech funding activity in 2026 so far is being driven by both more deals and larger rounds, but larger rounds explain more of the capital increase. Deal count rose from 24 over the comparable 2025 period to 28 in year-to-date 2026, while total capital rose from about $275M to about $433M.
The gap between deal growth and capital growth is the key signal. A 17% increase in deal count cannot by itself explain a 57% increase in capital, so the femtech market is clearly benefiting from larger checks as well as broader activity.
Round-size metrics confirm the same conclusion. The average round increased from about $11.5M over the comparable 2025 period to about $15.5M in 2026 so far, while the median round increased from $5M to $7M. The median matters because it shows the improvement is not only coming from the biggest outliers.
Still, the femtech market remains skewed. The top three 2026 year-to-date deals captured about 52% of all capital, and the top 10 captured about 81%. The market has more activity than last year, but the dollar story is still controlled by a small number of large financings.
The full-year comparison explains why this matters. In 2025, deal count was almost unchanged from 2024, but capital fell by about 26%, so the market did not lose many funded companies; it lost large-round intensity. In 2026, that large-round intensity has returned.
Is femtech capital moving toward later-stage or earlier-stage companies?
Femtech capital is moving sharply toward later-stage companies in 2026 so far. Series B and later rounds, including growth equity, captured about $262M, or roughly 60% of all year-to-date 2026 capital, compared with only about $55M, or roughly 20%, over the comparable 2025 period.
The stage mix makes the shift especially clear. Series C and Series D+ rounds alone captured about $224M in 2026 year-to-date, even though they represented only three deals. Midi Health, Pomelo Care, and Pee Safe are the obvious anchors behind that later-stage pull.
The comparable 2025 period looked very different. Seed, Series A, and unknown-stage rounds captured about 80% of capital over the first part of 2025, while those earlier or less-defined stages captured about 40% in 2026 so far. That is a major reversal in investor preference.
This does not mean early-stage femtech has disappeared. Seed rounds still represented 11 of 28 deals in 2026 year-to-date. The sharper conclusion is that early-stage companies are still entering the femtech market, but the largest checks are moving toward companies with prior validation, clinical proof, payer or employer access, distribution, or regulatory credibility.
This chart, included in our femtech market deck, compares the main business model options for menopause telehealth platforms
Is the femtech market maturing or still experimental?
The femtech market is maturing at the top while remaining experimental at the base. The capital-weighted market is increasingly made up of clinical care, diagnostics, regulated devices, maternity-risk reduction, menopause care, hormone monitoring, and fertility infrastructure, while the deal-count-weighted market still contains many small seed experiments.
The maturity signal is visible in the largest 2026 rounds. Midi Health raised $100M at Series D+, Pomelo Care raised $92M at Series C, Mammogen secured up to $30M for RNA-based breast cancer detection, and Rejoni raised $25M for uterine healing technology. Those are not lightweight wellness-app financings.
The experimental signal is also clear. Seed rounds represented 39% of year-to-date 2026 deals but only about 10% of capital, and 10 of 28 deals were below $5M. That means many companies are still testing whether women-specific care gaps can become scalable venture-backed businesses.
The best way to read the femtech market is as a two-layer market. The top layer is increasingly institutional, clinical, and validation-driven. The bottom layer is still exploratory, with startups testing new approaches to hormone monitoring, menstrual diagnostics, women’s primary care, pelvic health, fertility support, and maternity navigation.
For a deeper view of how maturity differs by category and stage, see the deeper analysis of the femtech market.
Are new startups still entering the femtech market?
Yes, new startups are still entering the femtech market, but new entrants are receiving a much smaller share of capital in 2026 than they did over the comparable 2025 period. First financings represented 25% of year-to-date 2026 deals, but only about 8% of year-to-date 2026 capital.
The comparable 2025 period was more favorable to new companies in dollar terms. First financings represented about 29% of deals and about 30% of capital over the first part of 2025. That means 2026 is not weak on formation, but it is much more selective about how much capital new companies receive.
The first-financing cohort is still meaningful. Feminai, Xella Health, Pinky Promise, myStoria, Wavelet Medical, Clair Health, and June Health all raised first financings in 2026 so far. They span breast screening, menstrual-fluid testing, women’s primary care, reproductive care coordination, fetal monitoring, hormone monitoring, and employer-facing care.
The capital allocation tells the real story. First financings captured about $33M out of $433M in 2026 year-to-date capital. The femtech market is still open to new ideas, but it is putting most of its money behind companies that have already shown evidence of traction.
Are more investors entering the femtech market?
More disclosed investors appear to be entering the femtech market in 2026 so far, although the signal should be treated carefully because investor disclosure varies by round. Year-to-date 2026 included approximately 114 disclosed investors, compared with approximately 83 over the comparable 2025 period.
The increase is meaningful because investor count rose faster than deal count. Deal count increased from 24 to 28, while disclosed investor count rose from about 83 to about 114. That suggests broader syndicates, more named angels, more regional investors, more strategic capital, or stronger disclosure.
The investor mix is also broadening. The 2026 femtech market includes generalist venture firms, healthcare specialists, women’s-health specialists, strategic investors, regional funds, angels, corporate investors, and payer-linked capital. That breadth makes the market look more institutional than a purely niche women’s health category.
The caveat is that investor count is not the same as capital conviction. A long list of small investors in seed rounds does not carry the same signal as a top-tier healthcare or growth investor leading a large round. The stronger signal is still where the large checks are going, and those checks remain concentrated in a relatively small number of validated companies.
This chart, included in our femtech market deck, shows annual funding in femtech startups
Are top investors getting more or less active in femtech?
Top investors are getting more visible in the femtech market in 2026 so far, but repeat activity among top investors remains limited. Year-to-date 2026 included 13 identified tier-1 investors, compared with 11 over the comparable 2025 period.
The quality of the 2026 investor list matters. Andreessen Horowitz, Atomico, Foresite Capital, Goodwater Capital, GV, Insight Partners, Khosla Ventures, M Ventures, McKesson Ventures, OrbiMed, Siemens Healthineers, Sofinnova Partners, and Stripes all appeared in the year-to-date 2026 market. Those names validate femtech most strongly when they appear in larger clinical, diagnostics, fertility, maternity, or hormone-related rounds.
Repeat activity is much thinner than the headline investor list suggests. Only Andreessen Horowitz or a16z, Sofinnova Partners, and Emmeline Ventures appeared in more than one qualifying 2026 year-to-date deal. That means the femtech market is not yet controlled by a tight syndicate of repeat specialist backers.
The full-year 2025 comparison shows a broader repeat-investor map, including Overwater Ventures, Amboy Street Ventures, GV, ARTIS Ventures, The51, Foreground Capital, Blue Collective, Impact Shakers Ventures, Portfolia, and Alumni Ventures. So top investors are more visible in 2026 by capital quality, but the repeat-investor ecosystem is still fragmented.
The practical reading is simple: a top-tier investor in a femtech round is a strong company-specific signal, not yet proof that the entire femtech category has become a consensus allocation bucket.
Which femtech subcategories are gaining momentum?
Pregnancy Care Solutions, Hormonal Health Platforms, Women’s Primary Care, and Menstrual Health Tools are gaining momentum in the femtech market in 2026 so far. Pregnancy and hormonal health are gaining most strongly by capital, Women’s Primary Care is gaining by activity breadth, and menstrual health is gaining from a few larger rounds.
Pregnancy Care Solutions show the cleanest momentum signal because both dollars and deals improved. Funding rose from about $29M over the comparable 2025 period to about $141M in 2026 year-to-date, while deal count rose from 2 to 6. Pomelo Care’s $92M round is the anchor, but BrightHeart, Nadia Care, SimpliFed, Wavelet Medical, and Oli or Baymatob add real category breadth.
Hormonal Health Platforms also gained sharply. Funding rose from about $58M over the comparable 2025 period to about $123M in 2026 year-to-date, while deal count rose from 3 to 5. Midi Health is the headline, but Prickly Pear Health, Coral, Osteoboost Health, and Clair Health show that menopause, hormone monitoring, PCOS-related care, and postmenopausal bone health are attracting several different models.
Women’s Primary Care rose from about $37M over the comparable 2025 period to about $57M in 2026 year-to-date, with deal count increasing from 4 to 7. The caution is that the median 2026 deal size in this category was only about $2.6M, so the category is active but not yet consistently capital-dense.
Menstrual Health Tools rose from about $8M to about $38M over the same comparison, but Pee Safe’s $32M round explains most of that increase. The subcategory is improving, but the broadest momentum is still in pregnancy and hormonal health.
For more detail on category-level shifts, see the femtech market deck.
Which femtech subcategories are losing momentum?
Fertility Care Platforms are losing the most momentum in the femtech market in 2026 so far, at least compared with the same part of 2025. Fertility funding fell from about $129M over the comparable 2025 period to about $49M in year-to-date 2026, while deal count fell from 8 to 6.
This does not mean fertility has become unattractive. May Health, myStoria, Flora Fertility, ONTO Health, Future Fertility, and Dioseve all raised in 2026 so far. The issue is that the category did not repeat the large early-2025 pattern created by ReproNovo, Overture Life, Gaia, Sunfish, Cofertility, Ovo Labs, Sprout Family, and Juniper Genomics.
Pelvic Care Devices also lost breadth, even though capital rose. Pelvic care had 5 deals and about $16M over the comparable 2025 period, but only one qualifying deal in 2026 year-to-date, Rejoni’s $25M financing. One strong round is not the same as broad subcategory momentum.
The full-year comparison explains why the 2026 category map feels different. Fertility led full-year 2025 with about $227M, while pregnancy and menstrual health were weaker after large 2024 outliers did not recur. In 2026 so far, that pattern has flipped: pregnancy and hormonal health are the acceleration categories, while fertility is active but no longer dominant.
This chart, included in our femtech market deck, shows how Flo Health is capturing share in femtech
Which regions are gaining momentum in femtech funding?
North America and Asia-Pacific are gaining momentum in femtech funding in 2026 so far. North America is gaining the most in absolute dollars, while Asia-Pacific is gaining the most in visibility because it moved from no qualifying comparable-period deals in 2025 to six qualifying deals in 2026 year-to-date.
North America’s increase is decisive. Capital rose from about $159M over the comparable 2025 period to about $348M in 2026 year-to-date, while deal count rose from 14 to 18. The region captured about 80% of year-to-date capital and about 64% of deals.
The North American strength is not a single-company story. Large or meaningful rounds included Midi Health, Pomelo Care, Mammogen, Rejoni, ONTO Health, Clair Health, Nadia Care, May Health, SimpliFed, Osteoboost Health, and others. The region is producing both the most funded companies and the largest capital events.
Asia-Pacific also gained meaningfully by deal count. Pee Safe, Pinky Promise, Oli or Baymatob, HealthFab, Dioseve, and Ovum gave the region six qualifying 2026 year-to-date deals and about $52M in capital. The region is still far below North America in capital intensity, but the company-formation signal is stronger than in 2025.
The Middle East improved slightly in dollars, from about $4.5M over the comparable 2025 period to about $6M in 2026 year-to-date, but the region still had only one qualifying deal. Feminai is interesting, but one round is too thin to call a full regional acceleration.
Which regions are losing momentum in femtech funding?
Europe is losing the most momentum in the femtech market in 2026 so far. European capital fell from about $112M over the comparable 2025 period to about $28M in year-to-date 2026, while deal count fell from 9 to 3.
The European slowdown is not a quality problem. BrightHeart, ScreenPoint Medical, and Intu Diagnostics are clinically credible companies in prenatal AI, breast-cancer screening, and cervical-cancer testing. The issue is that Europe did not repeat the larger early-2025 financings from companies such as ReproNovo, Gaia, Ovo Labs, Amara Therapeutics, and Fizimed.
The full-year comparison shows that Europe’s weakness began before 2026. European femtech funding fell from about $324M in 2024 to about $144M in 2025. Europe still produced 13 full-year 2025 deals, but its capital intensity had already fallen sharply from the 2024 level.
Latin America and Africa are not so much losing momentum as absent from the qualifying disclosed sample. Neither region had qualifying disclosed equity rounds in full-year 2025 or year-to-date 2026. That should be read as a public venture-financing and disclosure gap, not as evidence that women’s health needs are absent.
Is femtech becoming more global or regionally concentrated?
The femtech market is becoming more regionally concentrated in capital terms, even though company formation is becoming somewhat more geographically diverse. North America captured about 80% of 2026 year-to-date capital, up from about 58% over the comparable 2025 period.
Deal count is less concentrated than capital. North America captured 18 of 28 year-to-date 2026 deals, or about 64%, while Asia-Pacific captured 6, Europe captured 3, and the Middle East captured 1. That means the femtech market is not purely North American by company formation.
The full-year and year-to-date sequence makes the capital concentration trend clear. North America captured about 56% of capital in 2024, about 74% in 2025, and about 80% in 2026 year-to-date. Europe moved in the opposite direction, from about 40% in 2024 to about 24% in 2025 and about 6% in 2026 year-to-date.
The strongest interpretation is global experimentation, North American scale financing. Femtech companies are appearing across more regions, especially in Asia-Pacific, but the large checks that define market direction are increasingly concentrated in North America.
For the complete regional breakdown, see the market report covering femtech geography.
This chart, included in our femtech market deck, shows how fertility app adoption has driven growth in the femtech market over time
Is femtech capital moving toward proven winners or new opportunities?
Femtech capital is moving strongly toward proven winners in 2026 so far. Follow-on financings captured about 92% of year-to-date 2026 capital, while first financings captured only about 8%.
The comparison with early 2025 is striking. Over the comparable 2025 period, first financings captured about 30% of capital. In 2026 year-to-date, first financings captured only about $33M out of $433M, which means the dollar allocation has shifted decisively toward companies with prior validation.
This does not mean new opportunities are being ignored. Seven first financings occurred in 2026 year-to-date, and they covered breast screening, menstrual-fluid testing, fetal monitoring, hormone monitoring, reproductive navigation, women’s primary care, and employer benefits. The femtech market is still forming new companies.
The real distinction is check size. New opportunities are getting funded, but proven winners are getting funded much more heavily. The market is paying up for clinical evidence, payer or employer traction, regulatory clearance, diagnostic relevance, infrastructure value, or strong consumer and care-delivery scale.
Is the femtech market becoming winner-takes-most?
Yes, the femtech market is becoming more winner-takes-most in the 2026 year-to-date period, though not as extreme as full-year 2024. The top three 2026 year-to-date rounds captured about 52% of all capital, up from about 44% over the comparable 2025 period.
The largest round alone captured about 23% of 2026 year-to-date capital, which is almost identical to the comparable 2025 top-one share. The difference is that the top three and top five became more dominant, so concentration is not only one outlier; it is a small cluster of outliers.
The full-year comparison adds useful context. In 2024, the top 10 deals captured about 83% of capital. In 2025, the top 10 captured about 71%, and the bottom half of deals improved from about 6% to about 10% of capital. Full-year 2025 was therefore less winner-takes-most than 2024.
Year-to-date 2026 has moved back toward concentration, with the top 10 rounds capturing about 81% of all capital. The femtech market is not winner-takes-all, because many companies are still raising, but it is clearly winner-takes-most in dollar terms.
Is the next wave of femtech winners becoming visible?
Yes, the next wave of femtech winners is becoming visible, but the visible winners are not necessarily the newest companies. The clearest winners are companies turning women’s health into clinical infrastructure: Midi Health, Pomelo Care, Mammogen, Rejoni, ONTO Health, Clair Health, BrightHeart, ScreenPoint Medical, May Health, and Pee Safe.
The strongest evidence appears where large checks align with specific care bottlenecks. Midi Health shows menopause and midlife care can support scaled venture capital. Pomelo Care shows maternity and women’s or children’s health can attract large Series C capital. Mammogen and ScreenPoint Medical show that breast-cancer diagnostics and AI screening can attract growth or strategic capital.
Clair Health is another important signal because it suggests continuous hormone monitoring can attract high-quality technical investors when the company moves beyond content into measurement infrastructure. BrightHeart and Wavelet Medical show that maternity AI is most compelling when it improves a specific clinical workflow, such as prenatal ultrasound or fetal monitoring.
The next-wave signal is weaker in broad Women’s Primary Care because deal count is high but median round size is low. That category had the most 2026 year-to-date deals, but the median deal size was only about $2.6M. Many models are being tested, but fewer have yet crossed into obvious winner status.
For more context on emerging winners and company-level signals, see the full market view on femtech winners.
As this chart shows, and as featured in our femtech market deck, search interest in femtech has increased significantly
Is the femtech funding landscape fragmenting or consolidating?
The femtech funding landscape is consolidating in capital allocation but fragmenting in company formation and investor syndicates. The top 10 rounds captured about 81% of year-to-date 2026 capital, while 28 deals still spread across six categories and 11 seed rounds.
This dual structure matters because a market can look broad by deal count and narrow by capital at the same time. The femtech market has broad experimentation across pregnancy care, hormonal health, fertility, menstrual health, pelvic devices, and women’s primary care, but the largest pools of capital are converging around a few validated companies.
The investor landscape is also fragmented. Approximately 114 disclosed investors appeared in 2026 year-to-date, but only three investor names appeared in more than one qualifying deal. That means the market does not yet have a small, stable syndicate map that repeatedly funds most rounds.
The best interpretation is that the femtech market is consolidating around proven business types, not around a small number of investors. Capital is converging on clinical infrastructure, diagnostics, maternity outcomes, and hormone care, while the financing ecosystem remains open, messy, regional, specialist-led, and syndicate-heavy.
Where is investor attention shifting in femtech?
Investor attention in the femtech market is shifting toward clinical infrastructure, measurable diagnostics, menopause and hormonal care, maternity-risk reduction, and women-specific monitoring systems. The 2026 year-to-date capital leaders are not generic wellness apps; they are companies tied to care delivery, clinical outcomes, regulated devices, AI diagnostics, fertility workflows, and female-specific biological measurement.
The clearest shift is toward menopause and hormonal health. Hormonal Health Platforms raised about $123M in 2026 year-to-date, more than double the comparable 2025 period. Midi Health is the headline, but Clair Health, Osteoboost Health, Coral, and Prickly Pear Health show interest across menopause care, hormone monitoring, brain health, metabolic and hormonal care, and bone health.
Investor attention is also shifting back toward pregnancy care. Pregnancy Care Solutions raised about $141M in 2026 year-to-date, up from about $29M over the comparable 2025 period. The important point is that this is not just maternity apps; it includes virtual maternity care, prenatal ultrasound AI, maternal care delivery, fetal brain monitoring, and labor-risk monitoring.
Women’s diagnostics and oncology-linked care are another important shift. Feminai, ScreenPoint Medical, Mammogen, and Intu Diagnostics point to growing interest in breast and cervical cancer detection, at-home screening, AI mammography, RNA blood testing, and lab-free HPV testing.
The investor filter is becoming much stricter. The femtech market is moving away from broad wellness claims and toward companies that can answer a harder question: which clinical workflow, biological signal, payer cost, or care-capacity bottleneck is being improved?
For real-time context on where investor attention is shifting, see the femtech market report.
INSIGHTS
The insights below come from reviewing disclosed equity rounds in the femtech market between January 2024 and July 2026, including full-year 2024, full-year 2025, and year-to-date 2026 funding through early July.
- The femtech market’s 2026 funding recovery is real, but it is not evenly distributed. Capital rose about 57% versus the comparable 2025 period, while deals rose only about 17%, which means larger rounds are doing more work than broader startup formation.
- The most important shift in the femtech market is from early-stage breadth to follow-on validation. First financings still represented 25% of 2026 year-to-date deals, but they captured only about 8% of capital, showing that investors are funding new ideas cautiously while scaling known companies aggressively.
- The femtech market is becoming more clinical at the top. The largest 2026 rounds are tied to menopause care, maternity outcomes, breast-cancer detection, uterine health, fertility infrastructure, and fetal monitoring, not generic women’s wellness engagement.
- The full-year 2025 decline should not be read as market abandonment. Deal count was almost unchanged from 2024 to 2025, while capital fell by about 26%, which means investor interest remained but mega-round intensity weakened.
- The 2026 rebound should not be read as a broad boom either. The top three 2026 year-to-date deals captured about 52% of capital, so the market’s apparent acceleration depends heavily on a few companies with strong validation.
- The femtech market now has two different realities. The capital-weighted reality is dominated by later-stage clinical infrastructure, while the deal-count reality is dominated by seed and Series A experimentation.
- Pregnancy Care Solutions have regained strategic importance after a weak 2025. The category fell sharply from 2024 to 2025, but 2026 year-to-date capital is nearly five times the comparable 2025 period, driven by companies connected to birth outcomes and maternity-risk reduction.
- Hormonal Health Platforms are moving from awareness-stage to scale-stage. The category more than doubled capital versus the comparable 2025 period and now contains both virtual care and measurement or device models, which suggests menopause and hormonal care are broadening as investment theses.
- Fertility Care Platforms remain important but are no longer the main acceleration engine. Fertility led full-year 2025 capital, but 2026 year-to-date fertility funding is down sharply versus the comparable 2025 period.
- Women’s Primary Care is broad but not yet consistently capital-dense. The category led 2026 year-to-date deal count, but its capital-share-to-deal-share ratio was only about 0.52, meaning many models are being funded before large winner checks are obvious.
- Pelvic Care Devices show the difference between capital momentum and ecosystem momentum. One $25M 2026 round lifted category dollars, but deal count fell from five over the comparable 2025 period to one, so the category is not broadly accelerating.
- Menstrual Health Tools remain highly outlier-sensitive. The category looked huge in 2024 because of Flo, smaller in 2025, and improved in 2026 because of Pee Safe; this volatility means menstrual health should always be analyzed with and without the largest round.
- North America has become the scale-financing center of the femtech market. North America’s capital share rose from about 56% in 2024 to 74% in 2025 and about 80% in 2026 year-to-date.
- Asia-Pacific is becoming more visible in femtech formation but has not yet matched North America in capital intensity. Six 2026 year-to-date Asia-Pacific deals are meaningful, but about $52M of capital remains far below North America’s roughly $348M.
- Europe’s 2026 slowdown is one of the clearest negative signals. European capital fell sharply versus the comparable 2025 period, and deal count fell from nine to three.
- The femtech market is becoming globally broader by company geography but more regionally concentrated by capital. That creates a future bottleneck: non-North American companies may form, but scale financing may remain harder outside North America.
- Top-tier investors are validating the femtech market selectively, not universally. Their presence is strongest in later-stage care delivery, diagnostics, fertility infrastructure, and hormone measurement, not across every seed-stage subcategory.
- Repeat investor density remains low for an emerging healthcare category. Only three investor names appeared more than once in 2026 year-to-date, suggesting the market has not yet consolidated into a stable syndicate map.
- The market’s strongest credibility filter is measurable clinical or economic impact. Companies that can tie female-specific biology to cost reduction, better diagnosis, improved outcomes, or care-capacity expansion attract larger checks.
- AI is not a standalone funding thesis in the femtech market. AI attracts capital when it is attached to a specific workflow, such as prenatal ultrasound, fetal monitoring, oocyte assessment, breast screening, cervical testing, care triage, or hormone monitoring.
- Consumer engagement alone is becoming a weaker funding signal. The largest rounds are moving toward care delivery, diagnostics, regulated devices, clinical monitoring, and infrastructure rather than standalone content or tracking apps.
- The next wave of winners is most visible where women’s health intersects with existing healthcare budgets. Menopause care, maternity outcomes, fertility workflows, oncology diagnostics, and regulated devices have clearer payment logic than broad wellness or education-led models.
This chart, included in our femtech market deck, shows how cycle tracking app technology has evolved over time
OUR METHODOLOGY TO BUILD THIS TRACKER
We built this femtech funding tracker by reviewing publicly disclosed equity rounds raised by pure-play femtech companies between January 2024 and July 2026. A company counts as pure-play when more than 80% of its activity is dedicated to technology-enabled products or services addressing women’s reproductive health, fertility, pregnancy and postpartum care, menstrual health, hormonal health, menopause, pelvic health, sexual health, or female-specific clinical conditions such as breast and gynecological cancers.
We applied four core filters to build the dataset. First, we only included equity rounds, so grants, debt, credit facilities, structured financings, acquisitions, and business combinations were excluded. Second, we only counted rounds of $300K or more. Third, we only kept pure-play femtech companies, which means general-purpose healthcare, wellness, fitness, mental health, consumer apps, infant-only care, and broad diagnostics companies were excluded unless women-specific biology or care pathways clearly represented the core business. Fourth, each included deal had to be supported by a direct company announcement, press release, tier-1 media report, specialized industry source, or relevant regional publication.
Undisclosed-amount rounds were excluded from the dollar-based metrics because including them would distort totals, averages, medians, and concentration ratios. We kept disclosed-amount deals even when the stage was unknown, and we used the announcement month and year as the timing basis. The resulting tracker is a public-disclosure dataset, which means stealth rounds, undisclosed financings, small local rounds, and unreported internal extensions may be missing.
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