Kindra has closed a US$4.5 million seed funding round to expand and grow its menopause offerings. The US-based brand, which is backed by P&G Ventures, aims to drive a cultural shift around menopause, which has been “long overlooked.”
“In the US alone, 170 million women will go through or have gone through menopause. Consistent with Kindra’s mission P&G Ventures is interested in helping women normalize menopause and help alleviate the symptoms of menopause,” a P&G Ventures spokesperson tells NutritionInsight.
As part of its partnership with Kindra, a member of P&G Ventures sits on the Kindra board and acts as an advisor to the brand as needed. However, financial details are not disclosed.
Kindra provides estrogen-free and plant-powered menopause essentials, such as supplements and a vaginal lotion to address some of the most common effects of menopause, including sleeplessness, hot flashes, brain fog, vaginal dryness and more.
A promising space
This round was led by the Female Founders Fund. Primetime Partners, Anne and Susan Wojcicki, Katie Couric Media, The Community Fund, and H Ventures are also investors in this round.
“A sector that has long been ignored by venture capital, the women’s health space is one of the most promising areas of investment. Women control 80 percent of all healthcare buying and usage decisions in a US$3.5 trillion healthcare industry,” says Anu Duggal, founding partner, Female Founders Fund.
Notably, by 2030 there will be more women between the ages of 40 and 64 than women under 18, according to Abby Levy, managing partner and co-founder of Primetime Partners. “This demographic shift is fueling innovation focused on improving our quality of life as we age.”
Innova Market Insights reports that supplements with a menopause-related claim have seen a CAGR of 23 percent between 2016 and 2020.
Besides women’s health, popular positionings for these launches include brain-mood health, bone health, and energy and stamina.
Menopausal women demand solutions
According to the fund’s 2020 Menopause report, only 36 percent of women felt moderately or very prepared for menopause, as many don’t understand menopause due to the stigma and lack of resources.
“With Kindra, we’re working to change this and reshape this mainstream sector for the benefit of its stakeholders,” continues Duggal.
Catherine Balsam-Schwaber, Kindra’s CEO, argues that the investor community is now drawn to the menopause category because they recognize the needs of this important demographic that is demanding attention and innovative solutions.
“Kindra’s raise garnered an enthusiastic response from the most funders because they believe in our products as well as our mission to speak out loud about menopause to help create a positive cultural shift. With our funders’ support, we are now poised to reach and serve the 6,000 women who enter menopause each day with even greater impact,” she states.
Other offerings in the menopause space include The Functional Chocolate Company’s botanical treat and Pharmactive’s saffron extract, which was recently linked with improved psychological symptoms in perimenopausal women.
Women’s health experts previously flagged that it is imperative to support women’s health throughout the lifespan.
Unpacking P&G’s involvement
Kindra, which was previously known as Pepper & Wits, was specifically formed via a P&G Ventures partnership.
The spokesperson explains that in 2019 P&G and venture capital firm M13 created a new partnership to open a brand incubator within M13 – the Launchpad – that leverages the external start-up capabilities, expertise and resources of M13 to accelerate the growth of selected brands developed by P&G Ventures.
Notably, Kindra was the first brand to move to the M13 Launchpad. “P&G Ventures continues to own the creation of consumer-inspired brands and innovation. The Launchpad within M13 incubates and develops these brands into sustainable businesses that eventually could be folded back into P&G,” adds the spokesperson.
Earlier this month, M13 also participated in a US$9.5 million series A investment round for women-led health and wellness brand Rae.
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