Founder Journey: Concrete Jungles Where Dreams Are Made of
I did it. Finally made the big move to NYC. That's partly why it's taken me a while to release this week's newsletter. After a year and a half of chaos, of hopping between crises and couches, I’m here. If you’re new here—hi, I’m Nilah. I’m building Zahra, a culturally sensitive menstrual health app that empowers Muslim women globally by bridging education, healthcare, and community. I’ve also been running a nonprofit with my sister, born in our college dorm rooms from selling thrifted clothes to Gen Z classmates to buy menstrual products for refugee women in Lebanon.
left: NYC, my new home | right: Beirut, my second home
The past year has been a lot. War, an MVP, connecting the dots between an idea and a launch. It’s been messy, scrappy. Nothing perfect. Execution has been shaky, sure like war zones, newbie founder mistakes, self doubt, recession vibes. But the chaos has taken me everywhere: every continent (yes, every single one), living out of a 23kg bag, crashing on kind strangers’ couches, asking questions, gathering answers. You’d be surprised how much research you can do with a cheap flight and a local willing to point you in the right direction. The imperfect parts like the rejection, the failure, the learning curve well…they’ve made it clear why I’m doing this, why it’s worth it. Women’s health, women’s education, changing the narrative, pushing for more investment in this underfunded space. That’s the point.
And NYC? NYC feels like the place where dreams like this get built. Or crushed. But you don’t do it alone. You can’t. Every couch, every cup of tea, every connection along the way has been a step forward. People see the vision, lend a hand. A small gesture that ripples into something bigger. That kind of kindness? It’ll be paid forward. Mark my words.
Buckle up NYC, we’ve got work to do. Women’s health and education deserve nothing less.
PCOS:The Silent Epidemic in Women’s Health
I wanted to dedicate this week’s newsletter to PCOS because, despite being one of the most common health conditions affecting women, it remains wildly under-discussed and underfunded. If you’re not personally dealing with PCOS, chances are you know someone who is, even if they don’t realize it yet. 1 in 10 women have it. Up to 70% of them are undiagnosed. Let that sink in.
This is beyond irregular periods. PCOS is a full-body condition that affects hormones, metabolism, fertility, and long-term health. It increases the risk of diabetes, heart disease, and mental health struggles like anxiety and depression. Yet, somehow, it barely registers on the medical industry’s radar.
Here’s what I’ll be covering today:
The glaring gaps in PCOS research, funding, and treatment.
Why so few companies are addressing it.
What needs to change for women to finally get the care they deserve
Polycystic Ovary Syndrome (PCOS) is one of the most common hormonal disorders in women. If you’ve never heard of it, you’re not alone. Even though PCOS is a leading cause of infertility and a major risk factor for diabetes and heart disease, it’s still wildly underfunded, underdiagnosed, and misunderstood.
So what actually is PCOS? At its core, it’s a hormonal imbalance where the body produces too many androgens (aka male hormones like testosterone). This results in irregular periods, weight gain, acne, insulin resistance, hair loss (or excess hair growth), and mood swings. The list goes on.
Source: The Journal of Clinical Endocrinology & Metabolism
Why does this matter? Because funding dictates progress. Less research means fewer treatment breakthroughs, longer diagnosis times (the average delay is 2-5 years), and millions of women left without clear answers. If you're wondering why the PCOS market isn’t as developed as other women’s health spaces. This is it.
For investors looking at femtech, PCOS is an untapped opportunity. The demand is there. The research is lagging. And the market is overdue for innovation.
Who’s Actually Doing Something About PCOS?
Despite being one of the most common and most misunderstood women’s health conditions, PCOS has been wildly overlooked by mainstream healthcare and big investors. But that’s starting to change.
A handful of companies are stepping up:
Ovii – A science-backed supplement formulated for PCOS, created under the guidance of Dr. Thaïs Aliabadi. What makes them stand out is their targeting of hormonal balance and insulin resistance, two of the biggest challenges women with PCOS face.
Ovia Health – Originally a fertility tracking app, they’ve built out PCOS-specific features to help women understand their symptoms and manage their cycles better. A smart play, considering PCOS is the leading cause of infertility.
Oviva – Tackling one of the biggest PCOS pain points: weight management. Their digital platform provides personalized dietary guidance and lifestyle coaching to help with insulin resistance and metabolic health.
Allara Health – A telemedicine platform that offers specialized care for PCOS patients. They focus on hormonal health and long-term management, something traditional healthcare still does poorly. They’ve already helped over 2,260 patients in NYC alone which alone speaks to the demand.
PCOS is a $8 Billion BlindSpot And an Untapped Investment Opportunity
PCOS is costing the U.S. healthcare system $8 billion every year and not because there are great solutions, but because there aren’t enough of them. That’s $8 billion spent on diagnosing, treating, and managing a condition that affects millions of women but still doesn’t get its fair share of funding.
But PCOS-specific funding is lagging. Despite the market demand, PCOS startups are pulling in significantly less capital. May Health, which is developing PCOS infertility treatments, raised just $25M in a 2024 Series B, a fraction of what fertility tracking apps get.
Why PCOS Gets Ignored
Women’s health issues that don’t fit neatly into the "motherhood" narrative tend to get brushed aside. PCOS is not only about fertility. It is a chronic condition that affects metabolism, mental health, and long-term disease risk. But because it doesn’t have a neat, one-size-fits-all solution, it gets ignored.
Investment into PCOS solutions are low because most don’t even understand the problem. If you ask the average person what PCOS is, 40% have never even heard of it. If people don’t know what it is, they’re not going to demand solutions and that’s why funding remains abysmally low.
Source: Health Match
Until PCOS gets the same level of attention as fertility treatments, the funding gap will remain. But the market is there.
I’ve seen it firsthand. The second you bring up women’s health beyond fertility, the energy in the room shifts. Some investors get quiet, others look uncomfortable, and one even had his wife talk to me instead and not because he wasn’t interested, but because he didn’t know how to engage in the conversation.
And honestly? I get it. Reproductive health has never been a mainstream investment focus. It’s not that investors don’t care but more that they haven’t been exposed to it in a way that makes them see the opportunity. They’re used to funding fertility tracking apps, pregnancy tech, and birth control solutions because those markets are obvious. PCOS? Period health? Menopause? These are still foreign concepts in most investment circles.
But that’s exactly why this funding gap exists. Not enough awareness. Not enough research. Not enough money going toward solutions that actually move the needle for women. Investors don’t see the opportunity because they don’t even know what they’re looking at.
And that’s not entirely their fault because for too long, women’s health has been treated as niche instead of necessary.
A Market Wide Open. Here’s Where the Gaps Are
The medical system is still treating PCOS like a fertility issue when it’s really a full-body condition that impacts hormones, metabolism, mental health, and long-term disease risk. The market is overdue for real innovation and the opportunity is promising.
What’s Missing and Opportunities for Innovation
Holistic Care Models – Right now, PCOS treatment is fragmented. You see an OBGYN for your periods, an endocrinologist for your insulin resistance, and no one for the mental health impact. Women with PCOS are more likely to have anxiety and depression. The system isn’t built to treat PCOS as a whole-body condition, which means there’s an even bigger opportunity for solutions that actually connect the dots.
Options for Non-Insulin-Resistant PCOS Patients – Most PCOS research and treatments focus on insulin resistance and weight management, but PCOS affects women in diverse ways. The lack of individualized care leaves many women without effective treatment options, especially those who are lean or who experience significant mental health and sleep disturbances. A more holistic approach including psychological support, sleep interventions, and alternative medicine may improve outcomes, but more research is needed.
Tech-Supported Lifestyle Solutions – Digital health platforms are already transforming weight loss, sleep, and mental health and PCOS should be next. Apps that combine dietary tracking, exercise guidance, and hormonal health monitoring could be a game-changer. Again, there should be a focus on a holistic approach.
Culturally Inclusive Resources – PCOS doesn’t just affect Western populations, but most resources are in English and geared toward a narrow demographic. This is a huge blind spot. Many women globally lack access to information that actually fits their cultural and dietary norms, making it harder to manage the condition effectively.
Affordable Diagnostics – The average PCOS diagnosis takes 2-5 years. Many women get misdiagnosed or dismissed altogether before getting proper treatment. Early, affordable diagnostic tools could cut down on wasted time and healthcare costs.
Root Cause Research & Personalized Treatment – Most PCOS treatments today are just symptom management, birth control, Metformin, and lifestyle changes. But why does PCOS happen in the first place? What if treatment could be tailored to a woman’s specific hormonal and metabolic profile instead of forcing a one-size-fits-all approach? We need more research, better drugs, and truly personalized care.
Who’s Going to Build It?
Let’s recap. 1 in 10 women worldwide have PCOS. That’s millions of women actively looking for better care, treatments, and tools and most of them aren’t finding what they need. Despite its prevalence, PCOS startups receive a fraction of the funding compared to fertility tech, even though the demand is just as urgent.
Data Source: Journal of Clinical Endocrinology & Metabolism
1. The Market is Wide Open PCOS affects hormones, metabolism, long-term disease risk, and mental health. That means women are spending on diagnostics, supplements, telehealth, and lifestyle management tools. Yet, the space remains completely underdeveloped.
2. The Innovation Gap is Too Big to Ignore The healthcare system has failed women with PCOS. Diagnosis takes years, treatment options are outdated, and most solutions don’t address the condition holistically. There’s room for new models of care, tech-driven interventions, and research-backed treatments.
3. The Social Impact is Immediate PCOS is one of the biggest blind spots in healthcare. Women with PCOS face delayed diagnoses, a lack of medical support, and increased long-term health risks. Funding innovation in this space is an opportunity to reshape the future of women’s health.
PCOS is a multi-billion dollar opportunity hiding in plain sight. This is the next frontier in femtech. The only question is: are you ahead of it or behind it?
CURATION
Gen Z Consumer Behavior: REUTERS: President Donald Trump signed an executive order delaying TikTok’s ban for 75 days, providing a temporary reprieve for millions of U.S. users. During the 14-hour suspension, many Gen Z users migrated to Xiaohongshu (RedNote), a Chinese social commerce platform. This shift led to the platform becoming the most downloaded free app on the U.S. App Store during the brief ban.
However, the migration to RedNote highlights a key issue: TikTok’s algorithmic structure is unique, and no other platform offers the same content discovery model. Unlike other social media platforms, TikTok’s algorithm doesn’t prioritize content from followed accounts. Instead, it surfaces videos based on user interactions such as engagement, viewing time, and shares creating a highly personalized experience that caters to individual preferences. This approach allows creators, even with smaller followings, to achieve widespread visibility, a key reason for TikTok’s appeal to both users and businesses.
For brands and businesses, TikTok’s algorithm presents a unique advantage by offering organic reach and engagement that isn’t possible on platforms like Instagram or YouTube. The platform’s focus on content relevance rather than follower count allows for a more democratized experience, enabling even new or small businesses to access significant visibility.
Although Gen Z quickly moved to Xiaohongshu during TikTok’s brief downtime, no other platform currently replicates TikTok’s content discovery system, leaving a gap for businesses looking to reach audiences organically. Should TikTok face a permanent ban, the absence of a similar algorithmic structure could pose challenges for brands relying on this model.
INDUSTRY INSIGHT: MarketThe femtech market is scaling fast—$5.1B in 2023, projected to hit $16.31B by 2031, growing at a 15.6% CAGR. The space is being driven by demand for personalized healthcare, AI-powered diagnostics, and increased smartphone adoption, with investment pouring in to push product innovation.
Source: Market Digits
Israeli FemTech player Zero Candida Technologies (TSXV: ZCT) (FSE: 9L2) just landed on the Frankfurt Stock Exchange, expanding its reach to European investors as it pushes hospital partnerships and patent applications across the region. CEO Eli Ben Haroosh calls it a strategic move to scale ZCT’s capital markets presence, doubling down on its mission to shake up women’s health globally.
DEAL SHEET
Teal Health just secured an additional $10M in funding, bringing its total raise to $23M as it continues pushing forward in the fight against cervical cancer.
Granata Bio just secured $15M in Series A+ funding, bringing its total raise to over $30M as it continues developing new fertility treatments in partnership with major women’s health players like Gedeon Richter and CooperSurgical.
Singapore-based AURA Fem Health just secured $200K in angel funding from executives at Knam Foods and AKG Associates, which it plans to use to develop its mobile app, set for testing this month.
Culina Health secures $7.9M Series A, bringing total funding to $20M, as co-founder Vanessa Rissetto scales its insurance-backed nutrition platform, expanding access to clinical nutrition care while battling breast cancer.
Eli Lilly is set to acquire Scorpion Therapeutics’ PI3Kα inhibitor program, STX-478, in a deal worth up to $2.5B, aiming to address hormone-positive breast cancer cases.
Egal raises $4M Series A, led by Bauer Family Office’s Technology for Humanity, to scale its patented pad dispensers in public restrooms, expanding into airports across the U.S. and U.K. as part of its global growth strategy.
Sweden’s Gesynta Pharma secures $29M Series B, led by Innovestor Life Science, to advance its non-hormonal endometriosis treatment, vipoglanstat, into Phase II trials, positioning the company for Phase III readiness.
Lady Technologies just raised $6.5M Series A, led by Relentless Consumer Partners, to scale its vaginal health platform, expand kegg beyond fertility into postpartum and contraception, and put cervical mucus at the center of women’s health.
Share Your Thoughts! Have insights or questions about this week’s topic? Hit reply. I’d love to hear from you.
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Incredible Nilah. You & Naras boldness and motivation for this mission is so inspirational ❤️
NYC is lucky to have you!!