Latest news with #femtech
Gulf Business
21-07-2025
- Business
- Gulf Business
Hub71 startup, Ovasave, raises $1.2m pre-seed round
Image: Supplied Ovasave, an Abu Dhabi-based digital health startup focused on fertility and hormonal care, has raised $1.2m in pre-seed funding, a sign of growing investor appetite for women's health innovation across the Gulf. The funding round was led by PlusVC, Annex Investments, and New York-based venture studio 25 Madison. It also drew support from strategic angel investors and family offices across the UAE and Saudi Arabia, reflecting a widening pool of capital being deployed into early-stage femtech ventures. Backed by Abu Dhabi's The company plans to use the funding to accelerate its expansion across the GCC, build new corporate partnerships, and roll out the next phase of its mobile platform, which will offer menstrual cycle tracking, symptom monitoring, AI-guided treatment protocols, and access to care. Ovasave aiming to fill gap when it comes women's healthcare in the region 'There is a critical need for timely intervention in women's health, particularly around fertility and hormonal health,' said Torkia Mahloul, co-founder and CEO of Ovasave. 'This funding marks a crucial step in our mission to disrupt women's health and expand access across the region.' Majd Abu Zant, co-founder of The raise comes amid a push by Gulf governments to diversify healthcare offerings and advance gender equality through national policy. In the UAE, reforms in healthcare, technology, and women's rights have created a fertile ground for emerging FemTech players to gain traction. Femtech, once considered a niche sub-sector, is increasingly drawing investor interest. A recent report by FemTech Analytics projects the MENA femtech market will reach $3.8bn by 2031, growing at a compound annual rate of 15 percent. Startups like Ovasave are hoping to ride that wave by addressing long-standing taboos and gaps in care, particularly in fertility and hormonal health. The startup is now preparing to launch in Saudi Arabia later this summer, as part of a broader three-year regional growth strategy. By combining AI-powered tools with direct access to care, Ovasave aims to move women's health from reactive to proactive – a shift that investors are starting to bet on.
Wamda
17-07-2025
- Business
- Wamda
UAE femtech Ovasave secures $1.2 million to expand in Saudi, GCC
UAE-based femtech startup Ovasave, backed by Abu Dhabi's Hub71, has raised $1.2 million in pre-seed funding from regional and international investors. The round was led by PlusVC, Annex Investments, and 25 Madison, with participation from strategic angel investors and family offices in the UAE and Saudi Arabia. Founded in 2023 by Majd Abu Zant and Torkia Mahloul, Ovasave offers a digital-first platform for fertility and hormonal health, combining at-home hormone testing, virtual consultations, personalised supplement protocols, and egg freezing support. The company also partners with corporates to integrate fertility and hormone care into employee wellbeing benefits. The $1.2 million raise will fuel Ovasave's expansion into Saudi Arabia and across the GCC, support scaling of corporate partnerships, and fund the next phase of its mobile app. Press release: Ovasave, a Hub71 FemTech startup focused on fertility and hormonal health, has successfully completed its pre-seed round, raising $1.2 million from a mix of regional and international investors. The round was led by PlusVC, Annex Investments, and New York-based 25 Madison, with additional backing from UAE and Saudi-based strategic angel investors and prominent family offices. This reflects the strong investors' confidence and growing demand for innovation in women's health across the region. Founded in 2023, Ovasave offers women a seamless, digital-first experience for fertility testing, egg freezing, hormone management, and menopause care. The platform combines at-home hormone testing, virtual consultations, personalised supplement protocols, and access to top fertility clinics for fertility preservation (egg freezing). Positioned as disruptors in fertility and women's hormonal health, Ovasave has also established a growing corporate benefits scheme that helps organisations support employees' reproductive health as part of their workplace wellbeing programmes. The $1.2m capital raised will be used to support regional expansion across the GCC, scale corporate partnerships, and launch the next phase of Ovasave's mobile app, which will include menstrual cycle tracking, symptom monitoring, access to care, and AI-driven treatment protocols. Ovasave will also address a historically overlooked stage of women's health, offering a broader range of services targeting perimenopause and menopause. The raise comes as the UAE accelerates national reforms in healthcare and women's rights, offering a timely window for FemTech innovation. Ovasave is registered with the Department of Health – Abu Dhabi and supported by Abu Dhabi's global tech ecosystem, Hub71, further aligning it with the nation's broader digital and preventive health strategies. Majd Abu Zant, Co-founder of Ovasave and global leader in fertility and women's healthcare, said, 'Abu Dhabi's focus on innovation, healthcare, and entrepreneurship has created a competitive environment for founders and investors alike. As an Abu Dhabi-based startup supported by Hub71, Ovasave has benefited from a strong regulatory framework, access to capital, and proximity to regional decision-makers. It's the right environment to build and scale high-impact ventures, and from here, we are expanding into Saudi Arabia and the wider MENA region.' A recent report by FemTech Analytics (FTA) revealed that the FemTech market in the MENA region is projected to reach $3.8 billion by 2031, growing at a CAGR of 15% during the forecast period from 2021 to 2031. (source: FTA Study, 2021) 'Overall, FemTech in the UAE is still in its early stages, but the momentum is clear. With increasing investor interest and a strong national focus on women's health and innovation, the UAE is emerging as a regional hub for the growth of this sector,' Abu Zant added. Torkia Mahloul, Co-founder and CEO of Ovasave, said, "There is a critical need for timely intervention in women's health, particularly around fertility and hormonal health. This funding marks a crucial step in our mission to disrupt women's health and expand access to fertility and hormonal care across the region. We are grateful for the confidence shown by our investors, which allows us to scale a platform designed to deliver timely, personalised, and accessible fertility and hormonal care. By bringing together medical expertise, digital convenience, and emotional support, we are helping women take control of their health earlier and more effectively across different life stages.' Built with a clear purpose, Ovasave is shifting women's care from reactive to proactive. Its solutions are designed to reduce costs, improve outcomes, and make it easier for women to access support in an area that has long been considered taboo and under-discussed. Moreover, Ovasave has embedded public education into its core mission, organising awareness events and expert talks and collaborating with physicians to normalise fertility conversations. One of its standout initiatives was the 'Fertility Your Way' campaign with Merck Gulf, offering free AMH screenings across the UAE. More than 500 women were screened during the campaign. The startup also partnered with leading employers including Aldar, Boston Consulting Group, and WeWork to raise awareness of fertility in the workplace. Through these efforts, Ovasave is helping shift the narrative on reproductive health across the region. "With investor confidence and strong market demand, the conversation around women's health is changing, signalling that fertility and hormonal care are no longer peripheral issues. Women's health is now a priority for innovation and investment in the Middle East, and we are proud to be leading that change,' Mahloul concluded. Ovasave's fundraising comes amid growing investor interest in women's health and fertility innovation across the MENA region. With a $1.2M pre-seed round now closed, Ovasave is expanding operations to Saudi Arabia this summer, with broader regional growth across MENA being part of their 3-year expansion strategy.
CTV News
13-06-2025
- Health
- CTV News
Period-tracking apps pose ‘significant risks' for users, new report finds
Experts say companies could sell the data of those who use menstrual cycle tracking apps. (Pexels) Menstrual cycle tracking apps could jeopardize the safety and privacy of users, a new report warns, with personal data commonly sold to companies. The stakes are high since period tracking apps have soared in popularity and become ubiquitous amid limited access to information, a lack of research and stigma about menstruation health. A 2024 study estimates that global downloads for the three most popular menstruation cycle tracking apps surpassed 250 million. Those who use apps that track periods often don't consider the data 'intimate' or commercially valuable, and need more protections from potential abuse of their personal information, according to the report released Tuesday by The Minderoo Centre for Technology and Democracy. MCTD is an independent team of academic researchers at the University of Cambridge in the U.K. 'Menstrual tracking applications turn personal health information into data points to be collected, analyzed, and sold,' according to the report. Data sold to companies, advertisers The study noted the apps pose 'significant risks' for users as femtech has become a 'lucrative trend' and the user data is 'extremely valuable' for a wide range of companies, from those that developed the app to big tech firms and advertising industries. Femtech refers to digital products, services or technologies promoting women's health and wellbeing, with period-tracking apps making up 50 per cent of the US$22 billion market in 2020. 'People vastly underestimate the commercial value of menstrual data and the extent to which it can provide insights into their political preferences, health issues, or reproductive choices,' researchers wrote. The apps offer a way for users to track daily information on anything related to their menstrual health, such as menstrual cycles, predictions on periods, premenstrual syndrome (PMS), ovulation and fertility. Security and privacy risks To add to the concerns, researchers say the apps also pose risks to data security and privacy, noting it's widely used in the online advertising industry. 'Self-tracking data has been used to police people's reproductive choices, to undermine a user's testimony in court, and it can lead to increased vulnerability in intimate relationships, partner violence, risks to job prospects via employer access to CTA (cycle tracking application) data, workplace monitoring, or possible health insurance discrimination,' according to the report. Meanwhile, the report also referred to 'severe security risks,' noting an example in the U.K. where period tracker data was used to charge women for illegally accessing abortion services. Are period apps accurate? The study notes many medical studies showed that the apps 'fail to accurately calculate cycle length or ovulation windows' and additional data from people is often not used to improve predictions. Rather, researchers say the information is 'predominantly a source of value' for the companies. 'With most apps providing no or very little information on how predictions are made, a 2023 study found that some users were encouraged to track more data to fine-tune their predictions and train an imagined algorithm,' it wrote. While users commonly turn to the apps to help them conceive or prevent getting pregnant, people with irregular cycles or conditions such as poly-cystic ovary syndrome, endometriosis, or premenstrual dysphoric disorder may also use the apps to try to understand their medical issues. Many people use the apps to track their emotions and bodily functions as well. Recommendations The report recommends improving health care for and incentivising research on menstrual and reproductive health, such as through cycle tracking companies and research institutes working together. It encourages schools and organizations to help raise awareness about menstrual tracking for all ages. Additionally, it recommends alternatives, such as public bodies developing apps that are 'trustworthy' and collect data in a 'responsible way.' The report also calls for stricter regulation of menstrual tracking data as 'sensitive health information' in the United States and tighter enforcement of existing regulations in the U.K. and European Union. It suggests improving security through 'consent options,' clear and accessible privacy policies, and prioritizing data privacy and security in the app design. Apps could be more 'transparent' by providing clear information on how tracking data is used to make predictions, with interface options for those who cannot or do not want to become pregnant. The report notes that not all women menstruate and not everyone with menstrual cycles is a woman. For instance, it wrote that children and teenagers have periods, trans men can menstruate and trans women can experience symptoms similar to premenstrual syndrome (PMS). Most apps are designed for straight cis women who want to get pregnant, it added. David Young, a privacy and regulatory law expert in Toronto, told in a video interview Monday that Canada's Personal Information Protection and Electronic Documents Act already follows the report's recommendations, though the law is 'not always enforced.' According to Canada's federal privacy law, an organization must not require individuals to consent to the collection, use or disclosure of their information beyond 'explicitly specified, and legitimate purposes.' 'Assuming those specific and legitimate purposes are the tracking that the individual is seeking by use of the app, then they shouldn't be allowed to also require, as a condition of using the app, that they're going to sell that information to somebody else,' Young said. He noted Canada also faces a problem with companies selling consumers' medical data, including electronic health records. Young said menstrual-related cycle data is considered 'sensitive personal health information.' 'And that has a very high standard of compliance under any privacy law, meaning that there must be clear ... consent to for whatever uses are going to be made of that information. So it's not something you can just use by way of implied consent.'
The Guardian
10-06-2025
- Health
- The Guardian
Public health bodies urged to launch period tracking apps to protect data
Public health bodies should launch alternatives to commercial period tracker apps, experts have said, as a report warns women's personal data is at risk of being harvested by private companies. Smartphone apps that track menstrual cycles are a 'goldmine' for consumer profiling, collecting information on everything from exercise, diet and medication to sexual preferences, hormone levels and contraception use, according to the research by the University of Cambridge. And the financial worth of this data is 'vastly underestimated' by users who supply profit-driven companies with highly intimate details in a market lacking regulation, the report says. In the wrong hands, cycle tracking app (CTA) data could result in risks to job prospects, workplace monitoring, health insurance discrimination and cyberstalking, and even limit access to abortion, the research suggests. The authors call for better governance of the booming femtech industry to protect users when their data is sold at scale, arguing that apps must provide clear consent options rather than all-or-nothing data collection, and urge public health bodies to launch alternatives to commercial CTAs. 'Menstrual cycle tracking apps are presented as empowering women and addressing the gender health gap,' said the report's lead author, Dr Stefanie Felsberger, of Cambridge's Minderoo Centre for Technology and Democracy. 'Yet the business model behind their services rests on commercial use, selling user data and insights to third parties for profit. 'There are real and frightening privacy and safety risks to women as a result of the commodification of the data collected by cycle tracking app companies.' Most cycle tracking apps are targeted at women aiming to get pregnant, so the download data alone is of huge commercial value, according to the report. Along with homebuying, no other life event is linked to such dramatic shifts in consumer behaviour. Data on pregnancy is believed to be more than 200 times more valuable than data on age, gender or location for targeted advertising. The report says period tracking could also be used to target women at different points in their cycle. The three most popular apps had estimated global download figures of a quarter of a billion in 2024. The femtech market – digital products focused on women's health and wellbeing – will be worth more than $60bn (£44bn) by 2027, the report says. With such intense demand for period tracking, the authors called on public health bodies including the NHS in the UK to develop their own transparent and trustworthy apps to rival those from private companies, with apps allowing permission for data to be used in medical research. 'The UK is ideally positioned to solve the question of access to menstrual data for researchers, as well as privacy and data commodification concerns, by developing an NHS app to track menstrual cycles,' said Felsberger, who added that the reproductive health provider Planned Parenthood in the US already had its own app but the UK lacked an equivalent. 'Apps that are situated within public healthcare systems, and not driven primarily by profit, will mitigate privacy violations, provide much-needed data on reproductive health, and give people more agency over how their menstrual data is used.' Prof Gina Neff, the executive director of the Minderoo Centre, said: 'The use of cycle tracking apps is at an all-time high. Women deserve better than to have their menstrual tracking data treated as consumer data.' In the UK and EU, period tracking data is considered 'special category', as with that on genetics or ethnicity, and has more legal safeguarding. In the US, data on menstrual cycles has been collected by officials in an attempt to undermine abortion access, the report says.
CTV News
10-06-2025
- Health
- CTV News
Menstrual tracking app data in the wrong hands ‘could result in risks to job prospects, workplace monitoring'
Experts say companies could sell the data of those who use menstrual cycle tracking apps. (Pexels) Menstrual cycle tracking apps could jeopardize the safety and privacy of users, a new report warns, with personal data commonly sold to companies. The stakes are high since period tracking apps have soared in popularity and become ubiquitous amid limited access to information, a lack of research and stigma about menstruation health. A 2024 study estimates that global downloads for the three most popular menstruation cycle tracking apps surpassed 250 million. Those who use apps that track periods often don't consider the data 'intimate' or commercially valuable, and need more protections from potential abuse of their personal information, according to the report released Tuesday, by The Minderoo Centre for Technology and Democracy (MCTD), an independent team of academic researchers at the University of Cambridge in the U.K. would split up this long list of proper names 'Menstrual tracking applications turn personal health information into data points to be collected, analyzed, and sold,' according to the report. Data sold to companies, advertisers The study noted the apps pose 'significant risks' for users as femtech has become a 'lucrative trend' and the user data is 'extremely valuable' for a wide range of companies, from those that developed the app to big tech firms and advertising industries. Femtech refers to digital products, services or technologies promoting women's health and wellbeing, with period-tracking apps making up 50 per cent of the US$22 billion market in 2020. 'People vastly underestimate the commercial value of menstrual data and the extent to which it can provide insights into their political preferences, health issues, or reproductive choices,' researchers wrote. The apps offer a way for users to track daily information on anything related to their menstrual health, such as menstrual cycles, predictions on periods, premenstrual syndrome (PMS), ovulation and fertility. Security and privacy risks To add to the concerns, researchers say the apps also pose risks to data security and privacy, noting it's widely used in the online advertising industry. 'Self-tracking data has been used to police people's reproductive choices, to undermine a user's testimony in court, and it can lead to increased vulnerability in intimate relationships, partner violence, risks to job prospects via employer access to CTA (cycle tracking application) data, workplace monitoring, or possible health insurance discrimination,' according to the report. Meanwhile, the report also referred to 'severe security risks,' noting an example in the U.K. where period tracker data was used to charge women for illegally accessing abortion services. Are period apps accurate? The study notes many medical studies showed that the apps 'fail to accurately calculate cycle length or ovulation windows' and additional data from people is often not used to improve predictions. Rather, researchers say the information is 'predominantly a source of value' for the companies. 'With most apps providing no or very little information on how predictions are made, a 2023 study found that some users were encouraged to track more data to fine-tune their predictions and train an imagined algorithm,' it wrote. While users commonly turn to the apps for help them conceive or prevent getting pregnant, people with irregular cycles or conditions such as poly-cystic ovary syndrome, endometriosis, or premenstrual dysphoric disorder may also use the apps to try to understand their medical issues. Many people use the apps to track their emotions and bodily functions as well. Recommendations The report recommends improving health care for and incentivising research on menstrual and reproductive health, such as through cycle tracking companies and research institutes working together. It encourages schools and organizations to help raise awareness about menstrual tracking for all ages. Additionally, it recommends alternatives, such as public bodies developing apps that are 'trustworthy' and collect data in a 'responsible way.' The report also calls for stricter regulation of menstrual tracking data as 'sensitive health information' in the United States and tighter enforcement of existing regulations in the U.K. and European Union. It suggests improving security through 'consent options,' clear and accessible privacy policies, and prioritizing data privacy and security in the app design. Apps could be more 'transparent' by providing clear information on how tracking data is used to make predictions, with interface options for those who cannot or do not want to become pregnant. The report notes that not all women menstruate and not everyone with menstrual cycles is a woman. For instance, it wrote that children and teenagers have periods, trans men can menstruate and trans women can experience symptoms similar to premenstrual syndrome (PMS). Most apps are designed for straight cis women who want to get pregnant, it added. David Young, a privacy and regulatory law expert in Toronto, told in a video interview Monday that Canada's Personal Information Protection and Electronic Documents Act already follows the report's recommendations, though the law is 'not always enforced.' According to Canada's federal privacy law, an organization must not require individuals to consent to the collection, use or disclosure of their information beyond 'explicitly specified, and legitimate purposes.' 'Assuming those specific and legitimate purposes are the tracking that the individual is seeking by use of the app, then they shouldn't be allowed to also require, as a condition of using the app, that they're going to sell that information to somebody else,' Young said. He noted Canada also faces a problem with companies selling consumers' medical data, including electronic health records. Young said menstrual-related cycle data is considered 'sensitive personal health information.' 'And that has a very high standard of compliance under any privacy law, meaning that there must be clear ... consent to for whatever uses are going to be made of that information. So it's not something you can just use by way of implied consent.'
