Ovasave Secures $1.2 Million Pre-Seed Funding To Enhance Women's Healthcare Solutions

Ovasave, a FemTech startup under Hub71, has secured $1.2 million in its pre-seed funding round. This investment comes from a mix of regional and international backers, including PlusVC, Annex Investments, and New York's 25 Madison. Strategic angel investors and family offices from the UAE and Saudi Arabia also contributed. The funds will support Ovasave's expansion across the GCC, enhance corporate partnerships, and develop its mobile app further.

The UAE is currently advancing reforms in healthcare and women's rights, creating an opportune moment for FemTech innovations like Ovasave. The startup is registered with Abu Dhabi's Department of Health and benefits from Hub71's global tech ecosystem. This aligns it with the nation's digital health strategies. Ovasave aims to shift women's healthcare from reactive to proactive approaches, focusing on fertility and hormonal health.

Ovasave plans to use the raised capital to expand into Saudi Arabia this summer as part of a three-year strategy targeting broader MENA growth. The startup's mobile app will feature menstrual cycle tracking, symptom monitoring, access to care, and AI-driven treatment protocols. These developments aim to improve outcomes and reduce costs in women's healthcare.

Majd Abu Zant, Co-founder of Ovasave, stated that Abu Dhabi's focus on innovation has created a competitive environment for startups. "Abu Dhabi’s focus on innovation, healthcare, and entrepreneurship has created a competitive environment for founders and investors alike," he said. He highlighted the benefits of being based in Abu Dhabi, such as regulatory support and access to capital.

Torkia Mahloul, Co-founder and CEO of Ovasave, emphasised the need for timely intervention in women's health. "There is a critical need for timely intervention in women’s health, particularly around fertility and hormonal health," she noted. This funding is seen as crucial for disrupting women's health services across the region.

The FemTech market in MENA is projected to reach $3.8 billion by 2031 according to FemTech Analytics (FTA). It is expected to grow at a CAGR of 15 percent from 2021 to 2031. This growth reflects increasing investor interest in women's health innovations like those offered by Ovasave.

Ovasave aims to make accessing fertility and hormonal care easier for women through its innovative solutions. By addressing areas often considered taboo or under-discussed, it seeks to transform how women receive care in these critical areas.

The successful fundraising highlights growing interest in FemTech within the MENA region. With strategic plans underway for expansion into Saudi Arabia and beyond, Ovasave is poised to make significant strides in improving women's healthcare access across the region.

With inputs from WAM