Hi there!

Welcome to the inaugural issue of TechFem: The newsletter focused on women's health businesses and women entrepreneurs. Every week, we’ll be bringing you the latest news, insights, investments and inspiration from those who are making an impact in the world of women’s health.

Here's what we have in store for you today…

In short:

News in 5: Top stories this week in women’s health and women-led healthtech - from VC raises in the USA,to VC drops in Europe and all the highs, lows and breakthroughs in between in 5 snappy headlines…
Company profiles in 3: This week, we’re looking at tech concierge platform Wander Health, African healthcare provider Helium Health, and digital employee healthcare platform behemoth Peppy…
Events and opportunities in 6: Where to go, to who see, and who’s hiring/accelerating/funding…
Q&A interview in 10: Jenny Saft, CEO and Founder of Apryl, answers our questions about business-building and leading…

In long:

New Pitchbook analysis shows funding and valuations are down for European startups: Not a great start for Europe-based healthtech startup funding this year, as Pitchbook’s 2023 Q1 analysis highlights issues for workforce losses amidst declining VC investments and low growth rates across the healthtech sector in Europe. Download the report here.
BUT European-based VC firm Seedcamp announces doubling of latest fund to the tune of $180m: Headed up by Reshma Sohoni, Seedcamp is not just one of the best-performing VCs in Europe, but globally - its portfolio includes Revolut, wefox and UiPath, and they’re now looking to healthtech for new unicorns.

And across the pond…

Define Ventures raises USD$460 million to fuel early-stage health tech startups: San Francisco-based Define Ventures announced on Tuesday it has raised $460 million to invest in these early-stage companies - founder and managing partner Lynne Chou O’Keefe told Forbes that “we always believe that in difficult times like these, this is when great companies continue to be born… in healthcare, the fundamentals have not changed.”
Telehealth companies that provide abortion pills grapple with regulatory uncertainty: Abortion medication providers in the US remain in limbo over legality of their services given recent Supreme Court orders on mifepristone supply restriction to clients and the awaited appeal verdict. This NY Times overview is a devastating but necessary read of where we’re up to.
FDA Approves First-Of-Its Kind Drug to Ease Menopause Symptoms: Astellas Pharma this week secured FDA approval for new once-daily menopause drug Veozah following promising results from two placebo-controlled Phase 3 studies.

Wander Health

What: An English-language tech-enabled medical concierge service connecting users in a foreign country to local healthcare services for non-emergency health issues.
Where: Mexico and Los Angeles, CA
Who: Dana Le, Founder and CEO
Why: Most traveler medical insurance plans cover only emergencies and medical evacuations, with policies varying on what is covered and will be reimbursed. Wander Health bridges the gap to cover non-emergency overseas medical care for service users.
How: Wander does not provide coverage, but directs users to the appropriate healthcare service (based on pre-defined user preferences) for your primary or urgent care needs when abroad, so you can return to the fun part of your travels.
What we like: Dana is a Forbes 30u30 whose previous endeavours involve leading on paediatric innovation accelerators in healthcare, and whose “day in the life of an entrepreneur” vids on LinkedIn are honest yet compelling viewing as she builds Wander Health.
Investors: Not known - privately held
Find out more: Website, LinkedIn, Instagram

Helium Health

What: The largest provider of full-service technology solutions for all healthcare stakeholders in emerging markets.
Where: Lagos, NIR
Who:
- Tito Ovia, co-founder and Head of Public Sector Growth
- Goke Olubusi, co-founder and CEO
- Dimeji Sofowora, co-founder and CFO
- Chichi Offodile, CCO
Why: Helium set our on a mission transform hospitals on the African continent by improving how records are kept and operations are managed. Today, they provide a suite of cutting-edge technology solutions for all healthcare stakeholders in multiple emerging markets.
How: The foundation of Helium Health’s platform is an SaaS based electronic medical records/hospital management information system (EMR/HMIS): They claim to be “on a quest to improve global health efficiencies and outcomes using data and technology”.
What we like: A strong mission-driven team with multiple women in senior roles addressing national and global unmet needs in medical record management. Since founding in 2015, they’ve raised over USD $10 million in funding and employ over 100 people in their Lagos-based offices.
Investors: 212, 2c9 Ventures, AAIC Investment, ACE & Company, Angaza Capital
Find out more: Website, LinkedIn, Instagram, Twitter

Peppy

What: Operator of a digital healthcare platform intended to support underserved areas of healthcare including menopause, fertility, and pregnancy. The company offers to work with leading employers, connecting their team members with human experts so they can access personalised support at the touch of a button on the secure Peppy app.
Where: London, UK
Who:
- Dr Mridula Pore, co-founder and co-CEO
- Max Landry, co-founder and co-CEO
- Evan Harris, co-founder
Why: With businesses under increasing pressure to deliver and their employees silently trying to navigate their way through life-changing health concerns, Peppy is a tech-led solution that focuses on supporting businesses to support their staff and retain talent.
How: Employees of organisations that have subscribed to Peppy’s services can download the Peppy app (IOS/Android compliant) and complete a brief introduction questionnaire guiding them towards the most relevant content for them. The app also pairs users with a team of health experts to provide support in areas of need. Peppy is paid for by employers, not employees, and users can access a range of services including one-to-one chat and virtual consultations, broadcasts and group chat, as well as all on-demand articles, videos and audio content.
What we like: Peppy has a strong women-led team and women-focused mission, co-founded and co-CEO’d by Dr Mridula Pore, Evan Harris and Max Landry, who all saw an opportunity to improve working conditions for employees affected by life-changing health concerns including menopause, fertility assessments, men’s health, pregnancy and post-partum states. Today, Peppy is trusted and loved by over 250 businesses including: BNP Paribas, Capgemini, Dyson, Santander and Wickes, amongst others.
Investors: AlbionVC, Kathaka, MTech Capital, Sony Innovation Fund
Find out more: Website, LinkedIn

Europe:

Supernovas Rocket Up: A growth-led programme involving 1:1 mentorship and group sessions supporting women-led technological startups and scaleups (inc. healthtech) achieve successful international expansion in Europe.
- Location: Pan-Europe
- Deadline: 23:00 CET 9th June
Intelligent Health UK Conference: Breaking down the barriers between tech and healthcare: Intelligent Health UK returns to London for another year, bringing together the global AI and healthcare community – clinicians, hospital heads, data scientists, startups, academics, and investors – to advance discussions on how to apply AI and drive technological collaboration in healthcare.
- Location: ExCeL London, UK
- Date: 24-25th May
Hello Clue - Science Writer, Clinical Experience - Parental Leave Cover: Clue’s work empowers women and people with cycles to make more informed decisions about their health. We break down barriers, myths and taboosThe Science Writer & Health Expert will work with the Science Team to conduct background research to inform app development and will create engaging, accessible reproductive health content to support the app experience.
- Location: Berlin, DL
- Deadline: TBC

Online:

HITLAB May Symposium: Women's Health Tech and Mental Health: The month of May’s HITLAB event showcasing the latest in women’s health tech and mental health innovation over a three-hour Symposium featuring panel discussions, interviews and keynote expert speakers.
- Date: Thursday 25th May
Emerging Femtech Session 4: Innovations in Maternal Health with Ruth Health from the Harvard GSAS Business Club: Alison Greenberg, CEO and co-founder of Ruth Health, chairs the fourth session from the Emerging Femtech series. Free to register for all online.
- Date: Tuesday 30th May

Global:

Google Women Techmakers Ambassador program: The Women Techmakers Ambassador program supports women in technology looking to create impact and give back to their communities through organizing events, public speaking, creating content, and mentoring.
- Deadline: 30th June

Got an event or opportunity you want to get mentioned here? Respond to this issue and we’ll get on it!

Q&A in 10

Jenny Saft of Apryl

1. Can you share a one-paragraph summary of who you are and what you do?

My name is Jenny Saft. I am CEO and co-founder of Apryl, a fertility benefits company which helps companies across Europe offer staff access to inclusive fertility and family-forming services, everything from egg freezing and IVF to adoption and surrogacy.

Alongside my work at Apryl, I am also an Angel Investor through the Atomico Angel Programme. I invest in a diverse range of early-stage startups, including B2C healthcare and B2B tech startups, all of which share the common aim to make the world a better place.

2. What is the name and industry of your business?

Apryl is a workplace fertility benefits provider. We help employers offer fully inclusive fertility benefits which cater to the needs of all their employees, irrespective of their gender, sexual orientation, and relationship status. We do this by providing companies with the tools and infrastructure to subsidise a full spectrum of fertility and family-forming options for employees including IVF and surrogacy care, right through to adoption support. This means that all staff can access the same level of fertility and family-forming support through their workplace benefits no matter their needs or circumstances.

3. What was the prompt for you to start your business?

I was inspired to set up Apryl after my own experience of egg freezing fell short. It was 2019, and I had just moved back to Berlin after living in San Francisco. In the US, egg freezing, paid for by employers, is commonplace, so I had assumed the situation would be similar in Germany. I was mistaken. Not only was I confronted with the complete lack of affordable treatment options, but I also struggled to find reliable answers to even the most fundamental questions like what the treatment would involve, how much it would cost and what the best clinics were. I ended up choosing a clinic based on how close it was to my office. And when I did start treatment, I was shocked that the clinic provided little additional support and guidance.

The experience left me wanting to create a solution which would not only improve access to affordable fertility treatment options, but would also ensure that those undergoing treatment could receive the additional support and information that was missing from my own experience. So I started Apryl with my co-founder Tobias Kaufhold to do just that!

4. What problem are you solving?

Thousands of individuals in the UK alone are unable to access fertility care due to sky-high treatment costs. While fertility support is available on the NHS, it’s a postcode lottery in reality. And rising NHS wait times are only making it harder for people to access support. This has led some hopefuls to turn to private treatment. But one round of IVF treatment costs around £5000 in the UK, so access to this private care is limited to the lucky few. With Apryl, we are trying to change this process by having businesses shoulder the burden of cost, so the many millions of individuals who so desperately want treatment can access the care they need. This has a positive kickback for businesses, who are rewarded with happy, fulfilled and committed employees.

At Apryl, we are also working to tear down the barriers which exclude such a large percentage of individuals from benefiting from their workplace fertility and family-forming care policies by giving employees the tools to offer an extensive range of treatment options - not just IVF or egg freezing.

5. What would you say is the biggest hurdle you've had to overcome so far with the business?

I think our biggest hurdle was navigating the legislative differences and nuances surrounding fertility and family-forming care in different European countries as we scaled the business.

Apryl began in Berlin, but we now operate in over 30 countries including the UK, Portugal and Israel. As we expanded we were, and are, careful to consider the legislation in each country, which varies significantly even within Europe. For example, for single women and same-sex couples in Italy, it is illegal to access IVF, and in Germany, non-commercial surrogacy remains illegal. This meant adapting how we speak to clients in each market to ensure we comply with country-specific regulations.

6. What would you say is the biggest success you've experienced so far with the business?

Our rebrand to Apryl stands out as our biggest success. When we started out we were called Oviavo and focused primarily on egg freezing. We soon realised that by offering only a small range of treatment options, we could only help a limited number of individuals. This did not align with our personal values. So, we rebranded as Apryl and evolved the business to offer a much more extensive range of treatment options. This enabled us to empower an even greater number of people on their path to parenthood.

7. What's the top tip you have for getting customers/investment in the business?

It sounds obvious, but make sure that you effectively communicate what your business does and what you're trying to solve to customers and investors. I’ve seen so many founders become so buried in their own businesses that they believe certain details are self-evident to an outsider. Never overestimate someone's knowledge in your space. Take a step back and consider how to effectively convey key messages. You are the expert, it's your job to explain things in a way that is simple to understand.

For example, with Apryl this means conveying just how prevalent fertility issues are (1 in 6 individuals experience infertility worldwide according to a recent WHO survey), the impact of fertility issues in the workplace, and demonstrating the countless benefits to businesses like improving talent attraction and retention and increasing employee wellbeing.

8. What's your next move with the business?

We’re currently working on expanding our UK team as we increase our presence in the UK. This will give us the capacity to help an even greater number of companies to offer staff inclusive fertility and family-forming benefits. And to match the growing demand from workers who are increasingly looking for these types of inclusive workplace benefits from their employers.

9. How do you spend your downtime?

I really enjoy spending time outside. Recently, I was lucky enough to stay in Cape Town, where I was able to spend my free time surfing and just enjoying life close to the ocean!

10. What podcast or book would you recommend to women in business?

Podcasts which platform underrepresented voices, and shed light on often overlooked issues are vital. For this reason, I’m a big fan of The Brand is Female Podcast, which interviews a diverse range of powerful women entrepreneurs and business leaders. I also really recommend the Woman Authors of Achievement podcast, which is Germany-based.

That’s all for this week!

Our mission is to support and promote the innovative and groundbreaking work being done by women in healthcare, and to empower and inspire the next generation of female leaders in the field.

Whether you're an investor, entrepreneur, or simply interested in the latest developments in women-led healthcare innovation, subscribe & join our community building up the next generation of female leaders in the field.

Signup for the blog here!

Articles

Discover

Search