Australian women’s health tech startup, Femtek, has raised $1 million to drive the development of its signature product, the Basal Body Ring. Led by Arcanys Ventures and Techstars, with participation from angel investors, this funding round reflects a significant milestone for Femtek following a successful Kickstarter campaign that raised over $133,000.
Founded by Olivia Orchowski in 2020, Femtek aims to address the gap in the wearable market by providing a tailored solution for women’s health tracking. The Basal Body Ring tracks basal body temperature, heart rate, and heart rate variability, catering to women with irregular cycles, PCOS, and endometriosis. The design of the Basal Body Ring focuses on discreet nighttime wear, offering privacy and convenience for users. By avoiding daily wear and charging requirements, Femtek ensures a seamless user experience. In a departure from the subscription-based model prevalent in the tech industry, Femtek opts for a one-time purchase approach to promote accessibility and financial safety for women. Olivia Orchowski emphasizes the importance of empowering women with body literacy while reducing healthcare costs.
The $1 million funding will support Femtek’s plans for product development, team expansion, and marketing initiatives. The company is actively seeking additional funding opportunities, including the LaunchVic’s Alice Anderson Fund, to further fuel its growth. Despite challenges in the fundraising landscape, Femtek remains committed to bridging the gap between consumers and healthcare professionals. With upcoming launches of direct-to-consumer products and B2B coaching practitioner portals, Femtek aims to revolutionize women’s health tracking globally.
Founder Olivia Orchowski states, “It’s about creating data and products that help consumers and healthcare professionals achieve better outcomes for their clients and for individual health.” With a focus on innovation and practical solutions, Femtek hopes to make a meaningful impact on women’s health tracking.
