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💰 Investors in Femtech in Southeast Asia and Hong Kong

lindsaydavissg9
Mar 133 min read

Access to capital in Southeast Asia and Hong Kong remains a critical factor in scaling femtech startups and women's health innovation. With global investment in femtech increasing, startups in Singapore have had the most funding success within Southeast Asia and Hong Kong to date. 


Over 70% of investors in Southeast Asia and Hong Kong femtech startups are headquartered or have a SEA regional office, noting ~43% of femtech investors in these markets are based in Singapore. US venture capital firms represent over 18% of femtech startup investors across Southeast Asia and Hong Kong.

FemTech Association Asia Founder Lindsay Davis & Ira Concept Founder Rung Satchatippavarn at the 2023 UNESCAP Feminist Finance Forum
FemTech Association Asia Founder Lindsay Davis & Ira Concept Founder Rung Satchatippavarn at the 2023 UNESCAP Feminist Finance Forum

Grant programmes in Singapore, sponsored by the universities, National Health Innovation Centre (NHIC), and government agency Enterprise Singapore, have played a critical role in funding and supporting the growth of local startups like EloCare and HiCura Medical Pte Ltd, also supporting reach into neighbouring countries, like Singapore-headquartered FathomX which has expanded into Indonesia, Malaysia and other Southeast Asia hospital systems - with sights set on Japan and the USA next. 


Incubators and accelerators similarly are seeing femtech, more specifically reproductive health, as a primary investment opportunity. Examples include Y Combinator in the USA supporting twoplus Fertility, and Antler in Singapore investing in Zora Health.

Kindred Health Inc. , the hybrid women’s healthcare company, is the only femtech company in the Philippines to have publicly-recorded funds raised. US-based Recharge Capital has selected womens’ health as a key thematic strategy, which translates to Rhea Fertility building a hybrid fertility ecosystem with companies like GenerationPrime, Madam Partum, Eluvo Health and more covering all aspects of the reproductive health journey. GenerationPrime in particular has significant USA backing from investment firms like Thiel Capital and Disney’s Shamrock Holdings. While headquartered in Singapore, GenerationPrime is operating in Thailand with Malaysia launch imminent. Regional femtech industry M&A activity has been very limited in Southeast Asia and Hong Kong, with the only acquisition being a division of Ferne Health by PLans - Reproductive Health Assistant. There have not been any Asia-based femtech exits to date.


A unique funding model is through lifestyle and consumer companies. CPG-focused DSG and Asia's regional retail giant Love, Bonito are investors in Moom Health as part of consumer engagement and wellness integration.


The list of femtech startups and their investors below excludes:


  • Individual Angels, Angel Networks and Family Office investors. Companies like Zora Health (Singapore), Unprude (Philippines), PLans (Indonesia) and others have secured private and/or undisclosed investment.

  • Companies operating in Asia, but not headquartered in the region.

  • Markets outside of HK & SEA, with the exception of SAIB, which is featured as a prominent member of FemTech Association Asia in South Korea.


Hong Kong



Indonesia



Philippines



Singapore



South Korea



Vietnam


  • Momby - Building experts & parents friendship - Villgro Philippines. (Note: Momby has merged and rebranded to The Joyful Nest, considering themselves a hospitality, rather than femtech, brand as Vietnam’s first luxury postpartum sanctuary offering postpartum care for modern mothers and their newborns.)


Please reach out to info@femtechassociation.com for further information about the femtech industry in Asia, consumer insights, investors and trends in the region.

 
 
 

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