Women’s hormonal cycle tracker Femtek pockets $1 million Seed round

Women’s healthtech startup Femtek has raised $1 million in Seed funding to give women better data around their menstrual cycle.

The round was led by startup incubator and early-stage investor Arcanys Ventures, which also has an office in Melbourne led by managing partner Frederic Joye, alongside Philippines-based software outsourcing and a Swiss office.

Techstars and Australian angels provided follow-on investments.

Femtek has developed a smart ring it hopes will revolutionise menstrual health by creating health insights based on hormonal conditions and a woman’s life stages.

Founder Olivia Orchowski was working as a women’s health coach, and wanted data on her clients to help manage them when she came up with the idea, founding Femtek in 2020. Around a fifth of women menstruating are affected by hormonal conditions. Just 13% of women have a “textbook” 28-day menstrual cycle. 

In late 2022, Femtek raised $133,020 from 420 backers in a Kickstarter campaign, and raised a pre-Seed round prior to the launch of their Basal Body Ring (BBRing), which sells for just under $300 and tracks basal body temperature. That’s your temperature when fully at rest – and ovulation can cause a slight increase.

The BBRing app provides training and lifestyle recommendations based on a woman’s cycle, factoring in lifestyle, activity levels, and health issues.

Orchowski said the funding will be used to expand locally and globally, alongside plans to add additional SaaS and hardware products.