When period-tracking app Flo secured a $200m (£156m) investment this week, it set a record for the joint-largest fundraise for a femtech company.
But it also sparked a lively debate in startup and VC circles because the women’s health startup is founded and led by men.
The London-based startup was founded in 2015 by Dmitry and Yuri Gurski. It offers users services to track their menstrual cycle and get personalised insights about their reproductive health. Flo’s Series C is the joint-biggest ever fundraise for a femtech company – along with US fertility startup Prelude Fertility – according to data platform Dealroom.
For some, Flo’s funding – which made it the first European femtech startup – is emblematic of the lack of funding received by women-led businesses. It has highlighted the complexities of male-founded companies operating in spaces traditionally focused on female-centric issues....