The women’s health startup FemTec Health is out of money and winding down operations, according to public legal documents and social media posts, Axios reports.
It’s a culmination of troubles plaguing FemTec, once envisioned as the launchpad for a one-stop women’s health shop. A document emailed to several shareholders and dated May 12 says FemTec “has decided to discontinue its business” and is transferring all its property and assets to an unaffiliated assignee named FemTec Health.
The news comes less than a year after the company acquired nutrition platform Nutrimedy. Around the same time FemTec announced it had purchased Ava AG, maker of a wearable that aims to detect the user’s fertility window.
Founded in 2020, FemTec officially launched in October 2021 with more than $38 million in equity funding. Read more.
