Daye, a gynecological health startup responsible for developing the first CBD (cannabidiol) tampon – one of the chemical actives found in cannabis sativa –, currently used by more than 60,000 women in the UK, has raised about $11 .5 million in financing for new products.
Innovating in its solutions, after developing bamboo-based tampons, the femtech announced the launch of microbiome or microenvironment screening tests, which can detect pathogens linked to STIs (sexually transmitted infections), such as HPV, vaginal infections, as well as fertility, pregnancy complications and in vitro fertilization.
Daye’s Vaginal Microbial Analysis allows women to sample at home with a tampon, a product most are already familiar with. “The process is very simple, similar to the Covid-19 test kits we have become accustomed to. The kit is delivered to your door and, as soon as you collect your sample, you send it back to an accredited laboratory (in the UK) for analysis”, says Valentina Milanova, founder of the company.
Initially, Daye’s gynecological health platform will provide access to treatments for vaginal infections and then expand to contraception, polycystic ovary syndrome (PCOS) and endometriosis. “We also connect our community with experienced and empathetic physicians who specialize in gynecological health and who can provide personalized support.”
For Milanova, this could break the cycle of little innovation in gynecological health, as tampons can be used to deliver medication directly into the vagina and can also serve as an improved method of sample collection for more accurate vaginal health diagnoses. However, she believes that the potential of this product has not been properly explored.
“This is partly due to high levels of monopolization in the tampon industry. Our aim is to combat this through vertical integration. In addition to a research and development and biotechnology company, Daye is also a design engineering company, which designs its own products and production lines,” she says.
In the most recent funding round, the startup received capital from Hambro Perks, an international investment firm that focuses on innovative and growing technology companies based in London. Leaders in healthcare solutions in the UK, Simplyhealth and Drs. Michelle Tempest and Fiona Pathiraja also applied in this round.
Daye will use the funding received to drive the brand’s expansion in the US market, with investments also from two venture capital firms: global MassMutual Ventures and Canadian Cross Border Impact Ventures.
To date, the company has raised more than $20 million, with other sponsors including Martin Varsavsky, founder of Prelude, the world’s largest network of fertility clinics, Anne Wojcicki, founder of US-based biotechnology company 23andMe. venture capitalist Khosla Ventures, London-based Kindred Capital, and several other angel investors.
STUDY ON THE EFFECTIVENESS OF CBD
Recently, a collaborative study with Dr Jessica G. Irons and Morgan L. Ferretti at James Madison University in Harrisonburg, Virginia, revealed positive results from a six-month randomized clinical trial studying the effects of cannabidiol on menstruation-related symptoms.
According to the results, 75% of women of reproductive age reported unpleasant symptoms related to menstruation, ranging from cramps, bloating, backaches and mood swings, as well as irritability and stress. With the use of CBD, these symptoms were significantly reduced over six months.
Daye’s tampon delivers 100mg of targeted, medical grade cannabidiol extracts directly to the colic area during menstrual periods, which act on the vaginal canal, where it has endocannabinoid receptors known to modulate our pain response. The product is the only one that has achieved ISO 13485 certification, which means it meets the highest possible standards for medical devices.