Canadian companies are leading in femtech innovation. But where is the funding?
Canadian femtech companies are gaining traction, with startups like Coral and Aranexx addressing women's health issues such as menopause. Despite their innovation, funding for these companies remains limited, with women-led startups receiving only a small fraction of venture capital. The gap in women's health solutions presents both a societal and economic challenge, highlighting the need for increased investment in femtech.
- ▪Montreal startup Coral raised $4 million to support its virtual clinic for women navigating menopause.
- ▪The total capital for Coral has reached $8 million, allowing it to expand services across Canada.
- ▪Women-led startups in Canada receive only about 4% of venture capital funding, despite higher returns on investment compared to male-led startups.
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Open this photo in gallery:Fiona Lake Waslander founded her company, Coral, to help women navigate menopause. “When that promotion comes up, you’re not anywhere on the thriving scale.”Galit Rodan/The Globe and MailShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountWhen Montreal startup Coral closed a $4-million financing round this spring, it was a win for Canada’s femtech ecosystem: Innovation in products that directly affect women’s health care needs.Coral is a virtual clinic for women navigating perimenopause, menopause and midlife health. Users can access coaching, testing and personalized treatment plans from medical professionals while tracking their progress in the app. Fiona Lake Waslander, Coral’s CEO and co-founder, launched the startup in 2024.
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