Kiwi startup Junofem, which has build a tech-enabled medical device to help women improve their pelvic floor health has raised NZ$1 million in seed funding amid ambitions to launch globally.
The raise was led by local VC Global from Day One (GD1), which recently raised NZ$130 for its Fund 3. The business has previously been backed by the Med Tech Core, MBIE, and Callaghan innovation.
JunoFem’s device, called the femfit, has been certified in Australia and New Zealand and the health tech startup has earmarked the funding to help obtain regulatory approval in the UK and then US, as well as to build widespread clinical support for the device as a foundation to launch femfit more widely to consumers.
Co-founder and CEO Dr Jenny Kruger said the device is currently available through the company’s website, upon physiotherapist recommendation, with future plans to allow direct online purchase.
The femfit can help alleviate symptoms such as urinary incontinence, which affects up to 1 in 3 women globally.
“Although the issue is a common one; investment in solving it is far less common. GD1 not only bought into the severity of the problem, but also the potential for femfit to empower women worldwide to address an issue that affects their quality of life,” Dr Kruger said.
“GD1’s investment has given us confidence to take bold steps towards global growth, backed by a team who dives in deep to support portfolio companies with sound go-to-market strategy and operational insight.”
Published by: Simon Thomsen | Startup Daily
Publish date: 12 October 2021