The growth in the femtech industry is motivated mainly by the growing burden of both chronic and infectious diseases among the world's female population. Growing women's emphasis on reproductive health and sexual empowerment in developing economies would further encourage development in the industry.We believe that there is scope for new growth opportunities in femtech and new approaches can help open the door to new products and services.
Today, Polycystic Ovary Syndrome (PCOS) is one of the most common health concerns affecting every 1 in 5 women of reproductive age. Women with PCOS have cysts in their ovaries and other symptoms like irregular menstruation, acne, excessive hair loss and hirsutism. PCOS is a syndrome and is a combination of irregular periods, weight gain, acne, hair loss or infertility. Better management of PCOS is extremely important in order to avoid further complications like diabetes. Lifestyle changes are effective in the reversal of PCOS in women. Doctors are now using modern technologies such as transvaginal ultrasounds and pelvic scans to confirm the existence of polycystic ovaries. 100X.VC’s Class 02 portfolio company Ava is helping women manage conditions like PCOS in a better way.
Ava is an AI enabled women’s wellness and health platform for management of chronic women related conditions. The platform provides women suffering from PCOS, thyroid, obesity, hair fall, acne etc. or any problems related to sexual health with a guided plan combining professional services from gynaecologists, nutritionists, dermatologists and fitness coaches to provide the most effective and cost-effective solution. It aims to tackle these lifestyle related illnesses with a holistic approach to provide women with a trusted solution. They use deep learning models to read historical data and provide a customised healthcare plan for the user.
Over 130M women are affected by PCOS with a YOY growth rate of 135%, 100M women are affected by Endometriosis and 60M women are affected by some sort of sexual disorder. The global femtech market size was valued at USD 18.75 Billion in 2019 and is anticipated to reach USD 60.01 Billion by 2027 at a CAGR of 15.6%
Ava’s founder, Evelyn Immanuel, is of the belief that the healthcare solutions should be viewed holistically with a sector agnostic approach and thus has created a digital platform as a one-stop solution providing end-to-end services for women’s menstrual and sexual well-being. In case of PCOS, patients typically have to consult gynecologists, dermatologists, dieticians and fitness trainers individually, which is costly and tedious. Ava provides these services under one roof and thus turns out cost-effective for the users.
Ava operates on a B2B and B2C model. It offers a subscription model to the direct customers suffering with PCOS charging approximately ₹1000 per month. The subscription is usually for 3-6 months till the symptoms have been successfully reversed. Ava has collaborated with several infertility and gynaecology clinics to provide treatment options to the patients through their app. It also provides diagnostic services in collaboration with Metropolitan Hospital.
The Ava Thesis
A platform to build a community of women suffering from similar conditions is a great idea. Often it is observed that PCOS creates a mental block and it is always helpful to talk about it with someone who understands and goes through the same. This can also provide motivation to not drop the treatment abruptly.
Ava successfully captures the first mover's advantage as it is developed to serve an underserved market of women suffering from chronic diseases such as PCOS, Thyroid, Acne. Unlike its competitors, this app uses deep learning models to read past data to provide targeted end-to-end healthcare treatments. It also serves as a discovery platform, thus building a strong supportive community of like minded women. Although started with solutions for PCOS, Ava will soon be launching solutions for other women chronic conditions and sexual well being solutions.
100X is excited about Women wellness as we feel the space is untapped. Femtech’s market size is slated to reach $50 billion by 2025. Transforming the female hygiene scenario from a product-centric market to a customer-centric one holds the key to bringing 100 per cent inclusion and within that PCOS is a big opportunity. The founder of Ava has managed to tap into this space well and is poised for growth.