Femtech Startup "Wilov" Presents Women's Health Application

Terminology femtech has been widely discussed in the last few years. It has now expanded to include a wide range of technology-enabled consumer-based products and solutions.

femtech itself can be interpreted as a business founded by women and mostly targeting the special needs of women. In Indonesia itself, slowly but surely, many startups have started to position themselves as femtech, One of which is Willov.

This initiative has been developed since the end of 2020 by Ivana Wiyono. At that time, he saw that there were still many women who did not really know their bodies, plus several things that were often considered taboo related to women's health care which then caused limitations. Many women are ultimately reluctant to seek consultations for fear of being judged. In fact, this can have a significant impact on the health of women's bodies.

With a family background that is engaged in the healthcare, Ivana tries to create solutions that focus on issues related to women's health. In developing this platform, Ivana was also assisted by the Co-Founder and COO Fillian Witarsa. In March 2021, they were successfully selected to take part in the Demo Day which was part of the 1000 Digital Startup event series.

Wilov has a fairly simple mission, namely to create an ecosystem of health services that is informative, inclusive, convenient, and easily accessible for Indonesian women. In addition, Wilov wants to help women to get complete health services with personalized data, a transparent & safe environment, and standardized care, starting from menstrual tracker or menstrual cycle monitor.

Service expansion and market potential

After officially launching in June 2021, Wilov continues to grow with their services. The company earns profit from every transaction made through the platform, from teleconsultation, recipes and products on the counter (OTC), as well as home laboratory tests.

The company is developing its services towards personalized health programs holistically to treat diabetes, PCOS, irregular menstruation, and weight loss.

Mentioned about the market potential, Ivana also saw a significant development in women who are increasingly aware of the importance of maintaining the health of their bodies and feminine areas. In addition, more and more women are already independent enough and have allocated funds for this.

Not long ago, Wilov officially introduced a subscription model for its services, starting from IDR 7.300-18.300 per day or it could be per month. Services offered include counseling one on one with a nutritionist, check nutritional conditions, personalize food menus, healthy lifestyle materials to physical activity guidelines.

Talking about femtech, there are a variety of solutions that can be offered regarding the maintenance of health for women in a number of specific conditions, including maternal health, menstrual health, pelvic and sexual health, fertility, menopause, and contraception, as well as a number of general health conditions that affect women disproportionately or differently (such as osteoporosis or cardiovascular disease).

Based on data from McKinsey & Company, estimated market size femtech currently range from $500 million to $1 billion. Projected opportunities for revenue growth have reached double digits. In the field healthtech, company femtech has received 3% of total funding in the industry. Their team also found a focus of support on maternal health, menstrual products, gynecological devices, and fertility solutions.

As of early 2022, Wilov has received pre-seed funding from East Ventures and Teja Ventures. Ivona also revealed that the funding had been allocated for the development of the first phase (menstrual tracker) and user acquisition. Currently, the company is developing services healthcare, in collaboration with several trusted clinics.

In Indonesia itself, Wilov does not have direct competitors with a similar business model. Similar apps that have been launched are newfemme and Miss.

Beyond that, service healthtech as Halodoc and Alodokter also has a special segment that focuses on issues related to women's health. In the global realm, the Wilov service has a similar model to the Flo application which focuses on track periodr.