UK femtech pioneer Elvie has officially entered administration as of March 2025, marking a turning point for the women’s health tech sector. Shortly after the announcement, U.S. rival Willow—best known for its wearable breast pump technology—acquired Elvie’s assets, signaling a major shakeup in the global femtech space.
Founded in 2013 by Tania Boler, Elvie gained global recognition with its discreet, high-tech products designed for women’s health, including the silent Elvie Pump, the Kegel-focused Elvie Trainer, and accessories like the Elvie Stride. Despite this success and more than $186 million in backing from top-tier investors like Octopus Ventures, BlackRock, and Blume Equity, the company ultimately could not stay afloat—falling short of long-term profitability.
Why Elvie Failed: Revenue Growth Without Profitability
Though Elvie’s revenues surged from £37 million in 2020 to £78 million by 2022, its losses ballooned just as fast. In 2022, the company recorded a £29 million loss—up from £22 million the year prior. Rapid expansion, especially into underperforming markets like China, stretched the startup’s resources beyond sustainable limits.
To recover, Elvie tried narrowing its focus to North America and Europe, but the move came too late. It couldn’t shake the cost burden of earlier decisions, nor could it regain investor confidence.
Hardware Startups Face Steep Climb
Like many hardware-first ventures, Elvie was hit by manufacturing and supply chain constraints—especially during and after COVID-19. Hardware companies often face higher production costs, more fragile logistics, and lower margins compared to digital health platforms. Despite its funding, Elvie was never able to fully scale efficiently or overcome these physical barriers.
Adding to the pressure, Brexit severely disrupted Elvie’s operations. Imports of critical medtech components from the EU dropped by 32% after 2021. Meanwhile, reliance on Chinese micro pump suppliers led to delays of up to nine months, wreaking havoc on delivery timelines. The UK’s exit from the Horizon Europe R&D program also cost Elvie access to vital innovation partnerships—68% of its patents had roots in EU-UK collaborations.
The Femtech Market Is Evolving—and Elvie Lagged Behind
By 2025, femtech is projected to become a $50 billion industry. But Elvie struggled to keep pace with its competitors. Cheaper alternatives emerged, and AI-powered digital health tools began to dominate. While Elvie attempted to expand its offerings to cover menopause and postpartum support, it remained heavily reliant on its breast pump product line.
Legal battles only made matters worse. Willow had sued Elvie over wearable pump patents, and without the legal firepower to defend its IP, Elvie found itself on unstable ground in a crucial market.
The Bigger Picture: UK Startups Struggle to Scale Globally
Elvie’s downfall highlights a systemic issue: the challenge of scaling UK-based startups in global markets, particularly the U.S. Despite raising £70 million in a 2021 Series C round, Elvie burned through its funding and failed to secure enough follow-on capital. Female-founded startups still receive just 2% of global VC funding—Elvie wasn’t spared from this harsh reality.
Industry insiders believe Elvie would have fared far better if it had been U.S.-based. It might have received stronger IP protection, deeper growth capital, and access to larger markets.
Willow Steps In: Industry Consolidation Begins
Willow’s acquisition of Elvie’s assets marks a turning point. Both brands pioneered wearable pump technology, which now accounts for 57% of the U.S. breast pump market. With Elvie now under its wing, Willow aims to build a full-scale maternal health platform—a sign that the industry is moving toward consolidation.
At the time of administration, Elvie employed roughly 170 people across London and Bristol. While some employees will stay on during the transition, many are not expected to join Willow, representing a loss of deep femtech expertise in the UK.
Willow CEO Sarah O’Leary called the acquisition an opportunity “to better compete and really realise the promise of what our product platforms have started to build.” As the femtech space matures, fragmented innovation is giving way to strategic alliances and fewer—but stronger—players.
What’s Next for UK Femtech?
The global femtech market is projected to grow to $177 billion by 2032, offering immense potential. But for UK femtech startups to thrive, foundational changes are needed.
Stakeholders must confront persistent funding disparities, push for stronger NHS partnerships, and challenge the stigma surrounding women’s health. Public policy, R&D incentives, and gender-inclusive investing will also play a crucial role in shaping the sector’s next phase.
Elvie’s journey serves as both a cautionary tale and a call to action. If the UK wants to stay competitive in this booming sector, it must create an ecosystem where innovation, inclusivity, and capital can truly come together.
