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The femcare industry has come a long way. Today, consumers prefer biodegradable products that do not spoil the environment ending up in the landfills and a crop of startups such as Daye is offering natural and organic products.
Daye is a femcare startup founded earlier this year by Valentina Milanova. The startup is all set to build a new brand of healthcare products that are designed with women in mind. Now, it has raised an investment from high-profile investors and Europe and the U.S.
Raised €4.9M funding
In a recent development, this London-based startup raised $5.5 million (nearly €4.9 million) funding from Silicon Valley’s Khosla Ventures along with participation from London’s Index Ventures and Kindred Capital.
The other investors in the company are Sophia Bendz, the former global director of Marketing at Spotify and a partner at VC firm Atomico, David Schiff, the founding partner at United Talent Agency, Irina Haivas, a principal of Atomico and Kristin Cardwell, the VP of International Business Development at Refinery29.
After the investment, Khosla’s chief of staff Kristina Simmons, venture partner Tim Westergren, the founder of Pandora and Hanna Seal, the principal at Index have joined the Daye’s board.
Daye’s first product
The first product of the startup is a new tampon using CBD to handle period cramps aka dysmenorrhea. It is an alternative to traditional painkillers. Notably, CBD is an extract from the flower of the industrial hemp plant and is a legal marijuana relative.
Hygienic and sustainable
Besides being capable of tackling dysmenorrhea, the cramp-fighting CBD tampon from Daye is also hygienic and sustainable than other legacy tampons in the market. The startup wants to raise the bar that exists in the tampon industry regarding production standards and sustainability.
Milanova believes that CBD is a safer alternative to over-the-counter painkillers. Instead of cannabinoid, she feels CBD should be used. As the vaginal canal has most cannabinoid receptors, it is the fastest route of absorption into the bloodstream resulting in pain relief.
As per TechCrunch, “Unlike most CBD products on the market today, our product does not contain any tetrahydrocannabinol (THC),” she explains. “This is why we believe we’re going to be attractive to every consumer who experiences menstrual discomfort.”
Furthermore, she added, “What we’re bringing to market is an absolutely fresh product, and we’re working in a soft, intimate space of user goods. As a newcomer, now we favor to take a look at user trust by making certain we’re in fixed contact with our customers, taking demonstrate of their suggestions and iterating on our proposition snappy.”
Stay tuned to Silicon Canals for more updates in the tech startup world.