Elvie, a UK-based women’s health pioneer known for its smart breast pumps and pelvic floor trainers, has entered administration and been acquired by its US competitor, Willow. The San Francisco-based startup, specializing in wearable breast pumps, has taken over Elvie’s assets in a move that signifies a significant consolidation in the femtech industry. Founded in 2013, Elvie gained recognition for its innovative products designed to support women through various stages of life.
The company secured over $186 million in funding, reaching a valuation of $241 million at its peak. However, despite impressive revenue growth, Elvie’s losses also grew, leading to financial challenges exacerbated by high manufacturing costs, supply chain disruptions, and fierce market competition. The femtech market, valued at $50 billion by 2025, has become increasingly competitive, with cheaper alternatives and new competitors entering the space.
Established players like Willow and market shifts towards AI-driven solutions and digital health platforms have drawn attention away from hardware-focused companies like Elvie. Brexit further compounded operational challenges for UK-based femtech companies, with difficulties in sourcing EU medtech components and reliance on Chinese manufacturers whose lead times were severely impacted.
Willow acquires Elvie amid consolidation
The loss of Horizon Europe funding also deprived Elvie of crucial R&D support. Before the acquisition, Elvie faced legal challenges, including patent disputes with Willow over wearable breast pump technology. Despite raising substantial funds, Elvie’s financial runway expired by early 2025, and limited exit opportunities and persistent gender gaps in funding added to the challenges faced by the startup.
Willow CEO Sarah O’Leary described the consolidation as an opportunity to “better compete and really realize the promise of what our product platforms have started to build.” As Willow integrates Elvie’s assets, this move signals a broader industry trend toward consolidation. Around 170 employees in Elvie’s London and Bristol offices are completing their notice periods. Still, many will not transition to Willow, which represents a significant loss of specialized talent in the UK’s femtech ecosystem. With the femtech industry projected to be worth $177 billion by 2032, the future holds tremendous potential for growth and innovation.
However, funding disparities, regulatory hurdles, and societal stigmas remain significant obstacles. For femtech to flourish in the UK, stakeholders must prioritize gender equity in funding, foster NHS-startup collaborations, and advocate for destigmatizing women’s health through education and policy reform.
Photo by Brooke Cagle on Unsplash
