TECHNOLOGY
From production to platform: The new infrastructure of Femtech
80
Companies now innovating in menopause and midlife health
£453M
Raised by UK femtech and fem-focused companies in 2024
380M+
Flo Health users powering data-rich platform growth
"We’re seeing a clear shift.
The most investable femtech companies today aren’t just solving a problem, they’re building the infrastructure to solve many, and to do so at scale.
That’s what this report is really about.”
In recent years, femtech has moved from the sidelines into a vibrant and fast-growing ecosystem. What began with condition-specific apps or single-use products has matured into something bigger: platforms designed to scale, integrate, and build long-term impact.
At Cavendish, we’re seeing a clear shift. The most investable femtech businesses today aren’t just solving one problem. They’re creating infrastructure that supports many, building ecosystems that generate data, drive engagement, and connect into healthcare and workplace systems.
The Platform Playbook
Hormona’s $6.7m raise in 2025 is a case in point. With AI-powered symptom tracking, at-home testing kits, and personalised hormonal insights, its ambition is to be the go-to interface for women’s hormonal health.
Peppy, another UK success story, began with menopause support and now spans fertility, parenthood, and even men’s health. With over one million users and corporate partners, its expansion reflects the shift from niche to infrastructure-led delivery.
Platforms like these aren’t just offering solutions, they’re creating systems that investors and acquirers can scale.
Momentum Across Sub-Sectors
The report identifies three areas with strong traction:
Hormone diagnostics and reproductive health – Companies like Hertility and Forth are reimagining diagnostics with AI-led analysis and science-backed testing.
Menopause and midlife health – With more than 80 businesses in this space, digital-first platforms such as Vira Health and Bia Care are embedding into NHS pathways and workplace benefits.
Mental health, sexual wellness, and supplements – From app-based coaching to personalised nutrition, brands are building ecosystems that evolve with women across life stages.
What unites these businesses is not just their condition focus, but the infrastructure beneath it: clinical pathways, data loops, and scalable delivery models.
The Gaps to Overcome
Despite strong investment (£453m raised by UK femtech in 2024), challenges remain. Later-stage capital is scarce, regulation can slow innovation, and exits are still few. The lesson is clear: founders need to design for scale from the outset. That means protected IP, owned data, and repeatable revenue models.
What This Means for Founders
From our experience, five traits separate investment-ready femtech companies:
Platform logic, not just product-market fit
Protected IP and owned data
Clinical or commercial validation
Repeatable revenue and efficient growth
Scalable governance and diligence readiness
Those who align early with these principles will be best placed to attract strategic acquirers and build long-term impact.
Read the full report:
From Production to Platform: The New Infrastructure of Femtech
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