British start-up Daye has secured $5.5 million in funding from high-profile investors in the U.S. and Europe to launch a new Femcare range including a pain-relieving CBD tampon.
Founded in London by 24-year-old Valentina Milanova and launching in the next few weeks Daye aims to build a new brand of health products designed ‘with women in mind’, reports the Tech Crunch website.
The startup’s first product is a newly developed tampon that uses CBD to help tackle period cramps -dysmenorrhea - as an alternative to traditional painkillers. Supporting the company are Silicon Valley’s Khosla Ventures, along with London’s Index Ventures and Kindred Capital.
TechCrunch say Khosla’s chief of staff Kristina Simmons and venture partner Tim Westergren - co-founder of Pandora - and Hannah Seal, principle at Index, have joined Daye’s board. Other investors include Sophia Bendz the former global director of Marketing at Spotify.
Also reporting on the story is London’s Evening Standard which says that around nine out of 10 women in the UK experience period pain with the majority, 57%, saying it affects their ability to work.
It reports Valentina, originally from Bulgaria, as saying that the CBD content also allows for the creation of ‘a protective sleeve over the tampon that prevents fibre loss, decreasing the risk of bacterial vaginal infection or Toxic Shock Syndrome’.
The start-up’s medical board includes two University of Liverpool professors Ian Buchan and Louise Kenny, and Daye has carried out clinical trials in Bulgaria, supported by the Centre for Applied Science and Innovation at Sofia Medical University.
Valentina says she first had the idea for a cramp-fighting tampon in 2017 and initially used her salary from a day job and credit cards to fund its development. In September last year, she quit her job and build a team, to work on the product full-time.
Whilst saying CBD is ‘having its 15 minutes of fame’ Valentina told the Standard that she doesn’t believe CBD ‘should be added to everything’. However, when it comes to the CBD tampon she says she believes it is much safer than over-the-counter painkillers.
She went on to say the vaginal canal has the highest concentration of cannabinoid receptors and is also the fastest route of absorption into the bloodstream when it comes to pain relief.