March marks a time to celebrate women and their achievements, and what better way to do so than by shining a spotlight on the groundbreaking work being done in FemTech? FemTech, a term encompassing technological innovations aimed at improving women’s health, is a rapidly growing sector finally getting the attention it deserves. Two companies in Archangel Network’s portfolio, Cosm Medical and Fibra, are bringing fresh and innovative solutions to important issues in women’s health.
Cosm Medical: Revolutionizing Pelvic Floor Care with AI and 3D Printing
Cosm is breaking new ground as the world’s first company to apply artificial intelligence (AI) and 3D printing to personalized gynecological prosthetics for pelvic floor disorders. It has begun serving providers and patients after recently achieving its first Health Canada and FDA clearance.
Pelvic floor disorders affect about 50% of women and are often linked to childbirth and aging, but despite their widespread prevalence,
“pelvic floor disorders such as prolapse and incontinence are shrouded in shame, silence, isolation, and lack of provisional care.” -Derek Sham, Cosm Medical Founder
Traditional treatments, like surgery, have a high recurrence rate, and existing products like pessaries—which help manage symptoms—are fit by trial and error, with half of users discontinuing their use after a couple of years due to complications:
“Following the widespread complications of transvaginal mesh implants used in prolapse surgery—which led to over 100,000 lawsuits and a Netflix documentary titled The Bleeding Edge—many providers and patients have turned to native tissue repair as an alternative. However, this approach has a prolapse recurrence rate of about 50% after five years.” -Derek Sham, Cosm Medical Founder
Cosm is reimagining the care pathway for these conditions by applying the same innovative principles used in custom orthotics, orthopedics, and dental devices to gynecology. The goal is to leverage AI-assisted design for individualized gynecological devices, starting with pessaries and expanding toward helping women recover better from childbirth and surgery. By leveraging AI and 3D printing, Cosm aims to improve the quality of life for the millions of women suffering in silence.
This innovation, driven by Cosm’s majority female leadership team and founder Derek Sham, was inspired by a personal experience with a family member’s struggles with pelvic floor issues. Cosm’s work is a critical step toward overcoming the stigma and silence surrounding women’s health, demonstrating the potential for innovation in a long-neglected sector.
Fibra: A Non-Invasive Solution for Reproductive Health
Fibra Inc., another one of Archangel Network’s portfolio companies, is tackling reproductive health. Fibra’s founder, Parnian Majd, noticed that unlike widely available wearable devices for heart health or sleep quality, there was no equivalent for women’s reproductive health. Fibra sought to change this by developing a smart pair of underwear capable of non-invasively tracking fertility, pregnancy, and more, all from the comfort of home.
The idea first came to Parnian during her studies in biomedical engineering, where she noticed the growing use of wearable devices for tracking health metrics:
“I always thought to myself, why not have a wearable device which tracks your reproductive health?” –Parnian Majd, Fibra Inc. Founder
Fibra aims to empower women by providing them with continuous, real-time data to help them make informed decisions about their reproductive health. The company’s initial focus is fertility, helping couples conceive faster with a non-invasive smart device that tracks the ovulation window—a notoriously difficult aspect of the female reproductive cycle. However, Fibra’s long-term vision is even broader, with plans to address pregnancy detection, postpartum care, STDs, menopause, and even cervical cancer detection.
But, like many FemTech companies, Fibra’s journey hasn’t been without its obstacles. Despite the growing interest in women’s health, Parnian experienced firsthand the challenges of educating investors—many of whom, unfortunately, lacked a basic understanding of women’s reproductive health:
“A few of the male investors that we had conversations with, they didn’t even know that the ovulation window is different than the menstruation window, so there’s a huge lack of knowledge about women’s reproductive health, unfortunately, not just with investors, but with the male population in general.” –Parnian Majd, Fibra Inc. Founder
Investors were skeptical of the need for innovation in fertility tracking, citing traditional methods like ovulation strips, which many found to be sufficient:
“Oftentimes, investors stopped wanting to learn more about the product because they were unable to understand the need that we were trying to solve.” –Parnian Majd, Fibra Inc. Founder
The Stigma and Funding Challenges in FemTech
One common theme shared by both Cosm and Fibra is the stigma that still surrounds women’s health. The lack of knowledge and understanding among investors about the unique needs of women’s health has posed significant challenges for both companies in securing funding. Yet, as both founders pointed out, women control the majority of healthcare expenditures, and with the right education and awareness, the market for women’s health solutions is poised for significant growth.
How Archangel is Supporting Growth in FemTech and Female Founders
Archangel Network recognizes the vast potential within the FemTech sector, which is poised to address significant gaps in women’s healthcare. According to a report by the World Economic Forum and the McKinsey Health Institute, closing the women’s health gap could add up to $1 trillion to the global economy annually by 2040. This substantial economic opportunity underscores the importance of investing in innovative solutions that cater to women’s unique health needs.
Research by the Boston Consulting Group shows that female founders receive over $1 million less in early-stage funding than their male counterparts, despite delivering more than twice the revenue per dollar invested. This gap highlights the missed opportunity for investors, as women-led businesses consistently outperform in returns. Archangel is committed to supporting female founders and ensuring they can compete for capital without barriers.
One of Archangel’s sub-funds, Phoenix Fire, is dedicated to investing in early-stage companies with at least one woman on the capital table holding equitable equity. While the Phoenix Fire Fund specifically champions female-led startups, Phoenix Fire and Archangel’s broader investment strategy remains sector-agnostic, backing any founder using technology to solve real-world problems. This approach has led female-founded companies to make up approximately 25% of Archangel’s portfolio.
The success of Archangel’s portfolio companies, such as HDAX Therapeutics, Noa Therapeutics, Tenomix Inc., and Voxcell BioInnovation, further demonstrates how female-led ventures are pioneering breakthrough solutions in healthcare. By investing in innovative founders, Archangel is not only advancing gender equity in entrepreneurship but also tapping into a market with immense growth prospects, contributing to both societal well-being and economic prosperity.
Looking Ahead: The Future of FemTech
Both Cosm and Fibra are proof that the FemTech industry is an important sector that is reshaping how we think about women’s health. By addressing neglected and stigmatized areas of women’s well-being, these companies are paving the way for a new era of healthcare innovation. Whether it’s through AI-driven pelvic floor devices or smart reproductive health wearables, these technologies have the potential to improve millions of lives.
As we celebrate International Women’s Day, it’s crucial to recognize and support the women and men working to create lasting change in women’s health. Companies like COSM and Fibra are leading the charge, and with continued investment and innovation, the future of FemTech looks incredibly bright.
Learn more about Cosm Medical here!
Learn more about Fibra Inc. here!
