A London-based FemTech that uses AI and at-home testing to help women track, understand and optimise their hormones, has raised £5m ($6.7m) in seed funding.
Hormona will use the funding to fuel its expansion, launch its hormone tests and grow B2B partnerships, whilst strengthening its infrastructure, marketing and sales.
The round was led by Voima Ventures and co-led by SuperNode Global VC, with Inka Mero of Voima and Gina King of SuperNode joining the firm’s all-female board to support its growth.
The company was founded in 2020 by Karolina Löfqvist and Jasmine Tagesson and is targeting the $44bn women’s health market.
80 per cent of women experience hormone-related issues but only 2 per cent of global medical funding goes towards researching issues specific to women.
Hormona was specifically created with clinical experts in endocrinology, gynecology and nutrition to help users manage hormone-related conditions and better understand their health.
CEO and co-founder Karolina Löfqvist was inspired to launch Hormona because of her own challenges with a common hormonal condition that went undiagnosed for years despite seeking extensive medical help.
Hormona has spent the last four years developing the first fully quantitative hormone tests of their kind, covering the full clinical range.
With over 90 per cent accuracy compared to traditional venous blood sampling, Hormona is pioneering a new and more accessible way to track hormonal health.
Its app, which has been downloaded in nearly 200 countries, aims to educate women on hormonal issues and the business has also built a strong following on various forms of social media.
“For too long, women have had to suffer through hormonal issues, relying on trial and error and waiting until symptoms become unbearable. That’s no way to live,” said Löfqvist.
“We built Hormona to change that – to give women control over their hormonal health without having to spend years suffering, as I did.
“This investment brings us one step closer to making real-time hormone tracking accessible to women everywhere without the need for multiple blood draws. We’re proud to be leading the way and improving women’s health, one user at a time.”
Mero added: “At Voima Ventures, we seek out visionary teams and bold science that can redefine entire industries, and Hormona is exactly that: they are pioneering a global movement in women’s health.
“By tackling one of the most overlooked yet fundamental aspects of women’s well-being – hormonal health – they are giving millions of women the tools, data, and empowerment to take control of their bodies and lives.
“We are incredibly proud to stand beside Hormona as they lead this health revolution.”