更年期
The North Star

Women are being failed by a medical system that was never designed to understand them. We are building the infrastructure to change that, starting with educating the practitioners women already trust, and working up until no woman has to inform her own doctor about her own body.

Kōnenki.ai · A New Season. A New Standard of Care.
Pre-Seed Investment Round · 2026

The knowledge gap
costs women everything.

Kōnenki.ai is an AI-powered practitioner education and certification platform for perimenopause and menopause care, built to close the gap between what research shows and what women are actually told.

B2B · SaaS · Healthcare Education US and UK Markets RAG-Powered · Evidence-First
Nawarh KhalilFounder and CEO
Wonder IncCo-Founders, Platform and Technology
01 / 12 Kōnenki.ai · Confidential

02

The Problem

Structural, systemic, and decades in the making

The failure is not individual doctors being uninformed. It is structural: medical education, research funding, clinical guidelines, and cultural attitudes compounded over decades. That gap is the business case.

Perimenopause and menopause are more than hot flashes and mood swings. They are a hormonal transition with documented consequences for cardiovascular health, neurological function, bone density, mental health, and metabolic risk. When practitioners are not trained to recognise and treat the full picture, women pay for it with their health.

The Menopause Society Clinical Practice Guidelines; NICE NG23
31.3%
of OB/GYN residency programmes include no menopause curriculum whatsoever
Allen et al., Menopause, 2023
~1 in 3
women report their menopause symptoms were dismissed or misdiagnosed
Kindra / Harris Poll, 2023
$26.6B
annual US cost: lost productivity, medical spend, absenteeism
Mayo Clinic, 2023
1.1B
women globally in menopause or postmenopause by 2025
WHO
6,000
American women enter menopause every single day
US Census / The Menopause Society
~40%
of women report receiving a misdiagnosis before a correct one
Biote survey, Nov 2025
Evidence: Training Gap Confirmed

A peer-reviewed study found that structured menopause education significantly improved clinician confidence across all measured competencies. The gap is not awareness. It is infrastructure.

OHSU Center for Women's Health / Oregon ECHO Network, Menopause, April 8, 2026

03

The Solution

Evidence-based AI education for the practitioners women already trust

The Philosophy

We don’t replace clinical thinking. We accelerate it. The platform is not a diagnostic tool. It is the trusted, research-backed resource that neither the women suffering nor the practitioners treating them currently have access to.

What Kōnenki.ai Does

An AI-powered practitioner education and certification platform that trains the practitioners already in these women’s lives to have genuinely evidence-based perimenopause and menopause conversations. The platform retrieves current, peer-reviewed evidence in real time rather than relying on static content, meaning what practitioners learn is always grounded in the latest clinical guidance from The Menopause Society, NICE, RCOG, and PubMed.

The Differentiators

A Learning System, Not a Course

Built on three integrated disciplines: pedagogy and learning science, AI and digital development, and practitioner-facing experience design. The platform uses generative assessment, adaptive competency pathing, and AI-simulated client consultations.

Real-Time Clinical Search

Practitioners query symptoms, treatment pathways, and clinical guidelines and receive evidence-graded answers grounded in The Menopause Society and NICE guidelines in seconds. The same function OpenEvidence provides for general medicine, purpose-built for perimenopause and menopause care.

Structured Evidence Evaluation

A dedicated, auditable layer for assessing medication, supplements, wellness claims, and beauty products against peer-reviewed clinical research. Practitioners can evaluate what they recommend and why, replacing marketing copy with evidence. This protects them clinically and differentiates them commercially.

The Certification Mark

Practitioners who complete the programme earn a Kōnenki.ai Certification: a visible credential their clients can look for. The mark creates pull: it signals trust, justifies premium positioning, and builds a network effect as certified practitioners advocate for the platform.


Evidence Standards

How Kōnenki.ai decides what goes into the curriculum

Kōnenki.ai is an evidence-based platform. Every claim in the curriculum is traceable to a published, peer-reviewed source. Every piece of content passes through a defined governance process before it reaches a practitioner. This is not a compliance posture. It is the product.

Source Authorities

Clinical Guideline Anchors

All curriculum content is grounded in the published guidelines of:

  • The Menopause Society (US): Clinical practice guidelines and position statements, the gold standard for menopause care in North America
  • NICE NG23 (UK): National Institute for Health and Care Excellence menopause guidelines, the basis for NHS clinical practice
  • British Menopause Society: UK specialist guidelines and recommendations
  • PubMed / Cochrane Library: Peer-reviewed research and systematic reviews as the primary evidence base for the RAG engine
  • RCOG / FSRH: UK clinical education standards for reproductive and hormonal health
  • Primary literature sources include Menopause, Climacteric, The Lancet, and NEJM for landmark and emerging research
Evidence Framework

GRADE-Aligned Evidence Grading

Kōnenki.ai adopts the GRADE framework (Grading of Recommendations, Assessment, Development and Evaluations), the international standard for evaluating clinical evidence quality. Applied to all curriculum claims, it ensures practitioners understand not just what the evidence says but how strong that evidence is.

  • High quality: consistent evidence from well-designed randomized controlled trials (RCTs)
  • Moderate quality: RCTs with limitations or strong observational studies
  • Low / very low: observational data, expert opinion, or emerging research
GRADE Working Group, BMJ, 2004 onwards
Governance

Human-in-the-Loop at Every Critical Point

The AI surfaces, structures, and personalises content. A human clinical expert approves it. No content goes live without clinical sign-off.

  • MSCP-certified clinical lead signs off all content before publication
  • Monthly random sampling of AI-generated outputs
  • User-flagged inaccuracies trigger immediate review
  • Formal update process activated on every guideline change
  • Positioned as education and clinical decision support, not diagnosis
Evidence Evaluation Layer

Product and Supplement Claims Assessment

The pharmaceutical, supplement, beauty, and wellness industry directed at menopausal women is largely unregulated and often evidence-free. Kōnenki.ai includes a dedicated evidence evaluation layer that allows practitioners to assess product and supplement claims against peer-reviewed clinical research.

  • Claim submitted by practitioner
  • RAG engine retrieves relevant peer-reviewed sources
  • Evidence grade assigned and displayed
  • Practitioner receives a sourced, auditable assessment

No equivalent exists in the market.

Kōnenki.ai is not a diagnostic tool. All content is educational and designed to support clinical decision-making, not replace it. FDA SaMD classification is under review for Phase 2 clinical decision support features.

03B

How Kōnenki.ai Applies Learning Science

The gap between completing a course and changing clinical behaviour is where most platforms fail

Most online courses deliver information. Practitioners read it, pass a quiz, and move on. What they do in the room with a client changes very little. Kōnenki.ai is built around a different objective: durable behaviour change. Every platform design decision maps to an established learning mechanism.

  1. 1
    Retrieval Practice — Generating an answer from memory strengthens retention far more than re-reading. Kōnenki.ai uses generative assessment: questions are dynamically produced, scenario parameters vary with each attempt, and clinical reasoning is tested rather than recall of static answers. Roediger and Karpicke, 2006
  2. 2
    Spaced Repetition — Memory decays predictably over time. Reviewing material at algorithmically timed intervals, just before forgetting occurs, rebuilds retention more efficiently than massed study. The platform delivers micro-learning nudges and competency reviews on this cadence automatically. Ebbinghaus, 1885
  3. 3
    Contextual Application — Practitioners learn most effectively when content is immediately applicable to real situations. AI-generated client personas simulate perimenopause consultations. The practitioner responds; the system provides evidence-grounded feedback. Lave and Wenger, 1991
  4. 4
    Adaptive Competency Pathing — The platform monitors query history and assessment performance, identifies competency gaps, and proactively surfaces relevant modules. Practitioners do not need to know what they do not know: the system infers it and acts on it. Sweller, 1988
  5. 5
    Continuous Evidence Currency — Clinical knowledge has a shelf life. The platform's agentic surveillance layer monitors PubMed, The Menopause Society, and NICE for guideline updates and flags changes to the clinical team for human review before the curriculum updates. Sackett et al., 1996
  6. 6
    Structured Telementoring Model — Case-based learning significantly improved clinician confidence across all menopause competencies. Kōnenki.ai applies this via AI-facilitated case discussion and scenario review, not passive content consumption. OHSU / Oregon ECHO Network, Menopause, April 8, 2026

The result is a platform where completion is not the outcome. Demonstrated competency is.

See Appendix C for full citations and evidence base.

04

Why Now

Five converging forces have opened the window
Policy Shift

HRT Black Box Warning Removed

FDA initiated removal of the black box warning on hormone replacement therapy on November 10, 2025, reversing a policy that suppressed prescribing for over 20 years. First labelling changes approved February 12, 2026. Demand for qualified practitioners is surging.

FDA initiated November 10, 2025; labelling approved February 12, 2026
Institutional Signal

The Menopause Society Awarded $5M for Practitioner Education

The Steven & Alexandra Cohen Foundation granted The Menopause Society $5M in October 2025 to train 25,000 healthcare providers in 3 years, confirming institutional appetite for exactly what Kōnenki.ai builds.

The Menopause Society / Steven & Alexandra Cohen Foundation, October 23, 2025
Technology Readiness

RAG Is Now Mature and Affordable

AI inference costs fell 280-fold between November 2022 and October 2024. RAG architecture for medical knowledge bases is proven in production. The technical barrier that made this impossible three years ago no longer exists.

Stanford AI Index, 2025
Investment Climate

Record Women's Health Investment

Women's health investment hit a record $2.6B in 2024, nearly $1B above 2023. Menopause remains one of the most underfunded segments. Only ~7% of femtech startups focus on it.

SVB Women's Health Report, 2025; BeautyMatter, 2025
UK Policy Momentum

Regulatory Tailwinds in the UK

The UK's Menopause Workplace Pledge, NHS menopause guidance, and British Standards Institution workplace standards have created regulatory and cultural infrastructure Kōnenki.ai can connect to directly.

BSI; NICE; NHS England; PA Consulting, 2025
Demand Signal

Millennial Women Are Arriving

The first generation to research their own health proactively is entering perimenopause. They demand qualified practitioners and will leave providers who cannot meet that bar. The demand is already here.

FutureFemHealth, 2024

05

Market Size

TAM / SAM / SOM: US and UK

Global Menopause Care Market

Global TAM 2024$17.79B
Grand View Research, corroborated by Straits Research. Kōnenki.ai launches into the US and UK as the beachhead within this global market.

United States

TAM: US menopause care market 2024$5.56B
TAM: US CE market 2024$3.35B
TAM: Corporate wellness (N. America) 2024$21.18B
SAM: B2B certification addressable (modelled)~$1.2B
SOM: Phase 1 beachhead Yr 1–2 (modelled)~$4.5M
Grand View Research 2025 (corroborated by Straits Research); Arizton 2025; Market Data Forecast 2024. SAM/SOM modelled: 15% addressability, 2–5% penetration.

United Kingdom

TAM: UK menopause market 2024$490M*
TAM: UK medical spa market 2023$1.09B*
TAM: UK corporate wellness 2024$3.46B*
SAM: B2B certification addressable (modelled)~$310M
SOM: Phase 1 beachhead Yr 1–2 (modelled)~$1.2M
* Single-source estimates: Grand View Research Horizon Databook, 2024. SAM/SOM modelled: 15% addressability, 2–5% penetration.
16.5%
CAGR for menopause and longevity solutions 2024–2030, fastest growing femtech segment
Mordor Intelligence, 2026
$2.6B
Women's health venture investment in 2024: record high, up nearly $1B year-on-year
Silicon Valley Bank, 2025

06

Product Architecture

Three tiers, one evidence engine

Practitioner Certification

AI-personalised training and a certification mark for individual clinicians, private clinics, gyms, and allied health practitioners. Lowest regulatory barrier. Fastest revenue. The beachhead.

Beachhead · Launch Product

What It Includes

  • AI-personalised modules by practitioner role, adapting to demonstrated competency gaps not just role type
  • Generative assessment: dynamically produced questions and clinical scenarios, not a static question bank
  • AI-generated client persona simulations: practitioners practice perimenopause consultations with a dynamic AI client before encountering one in the room
  • Real-time clinical search grounded in The Menopause Society and NICE guidelines
  • Structured evidence evaluation for product and supplement assessment
  • Spaced repetition nudges: algorithmically timed micro-learning to maintain retention between formal modules
  • Kōnenki.ai Certification Mark: a visible, client-facing credential
  • Curriculum updated continuously as guidelines evolve, via agentic evidence surveillance with human clinical sign-off
  • HIPAA and GDPR compliant from day one

Revenue Model and Target

  • Individual clinician / practitioner: $299–499/yr
  • Private clinic (multi-seat): $2,500–5,000/yr
  • Gym / fitness studio: $1,500–3,000/yr
  • Per-seat pricing for enterprise groups
  • 100–200 US locations, 30–50 UK locations by end of Year 2
  • $150–300K ARR target at Month 18 (modelled)

Clinical Decision Support

An AI tool used around patient interactions, helping practitioners make better-informed clinical decisions in the moment, not just in advance training.

Premium · Phase 2

What It Includes

  • Practitioner queries patient symptoms or product claims
  • AI searches curated evidence database in real time
  • Returns evidence-graded synthesised response
  • Flags when specialist referral is appropriate
  • Maintains audit trail for clinical governance
  • Multimodal label evaluation: practitioners photograph a product label or supplement facts panel and receive an evidence-graded assessment against clinical research in seconds, replacing guesswork with clinical confidence at the point of recommendation
  • Wearable platform data integration (Oura, Garmin, Whoop)

Revenue Model

  • Premium upgrade for Phase 1 certified customers
  • $800–1,500/practitioner/yr clinical tier
  • $50K–200K/yr enterprise: insurance, corporate wellness
  • Wearable integrations: negotiated API partnerships
  • FDA SaMD classification review required before launch. Positioned as an evidence reference tool, not a diagnostic tool.

CE / CPD Accreditation

Formally accredited continuing medical education: the gold standard in clinical education and the culmination of the Kōnenki.ai roadmap.

The Culmination · Phase 3

US Pathway

  • ACCME accreditation via clinical partner (co-development)
  • ANCC: nursing and NP continuing education
  • The Menopause Society's $5M NextGen Now build confirms institutional appetite for AI-powered menopause education. Kōnenki.ai occupies the adjacent market TMS cannot serve: individual clinicians, private clinics, and allied health practitioners.
  • Menopause Society learning partner

UK Pathway

  • CPD accreditation via BMS or FSRH partnership
  • NICE-aligned content methodology throughout
  • NHS institutional procurement pathway
  • RCOG and FSRH as formal accrediting partners
  • $100K–1M+/institution/yr. Hospital systems, medical schools, professional associations.

07

Business Model

B2B SaaS with institutional expansion path
Phase 1: Launch

B2B Subscription

Annual licence per clinic, gym, or allied health practice. Fast procurement cycle. Clear buyer: clinic owner or operations director. ROI framed as staff capability and client retention uplift. Certification mark creates external pull.

Phase 1: Parallel

Self-Serve SaaS

Individual practitioners and wellness coaches at $299–499/yr. No sales motion required. Builds brand awareness and creates a pipeline of institutional advocates.

Phase 2: Enterprise

Corporate Wellness and Insurance

Corporate wellness programmes, self-insured employers, and insurance companies. Longer sales cycles (6–18 months) but $50K–200K contract values. ROI framed around the $26.6B annual US productivity cost.

Phase 3: Institutional

Hospital and CE Licences

Hospital systems, medical schools, and professional associations at $100K–1M+/yr. Co-branded or white-labelled CE delivery. Evidence infrastructure partnership opportunity: Kōnenki.ai serves the allied health and aesthetic practitioners The Menopause Society does not certify and cannot reach.

Acquisition Optionality

Telehealth platforms, including Midi Health ($1B unicorn, 2025) and Gennev, are building internal education functions. Kōnenki.ai builds the evidence engine and certification infrastructure those platforms would need to acquire rather than build.


09

Competitive Landscape

No direct competitor holds all six positions
PlatformAI-PoweredAllied HealthUS + UKCert MarkEvidence EvalCategory
Kōnenki.ai ✓ RAG-driven ✓ Core focus ✓ Concurrent Our position
Menopause Society MSCP ✗ Static exam ✗ MDs only US only Monitor · Building own digital platform (NextGen Now)
BMS Certificate (UK) ✗ Static ✗ HCPs only UK only Phase 3 UK partner
Menopause Movement (UK) ✗ Static Fitness only UK only Direct Ph.1 UK comp
IWHI Individual only US only B2C · Individual · Deep clinical
Midi Health US only Telehealth / acquirer
Hirsch Academy ✗ Static video ✗ HCPs only US only Monitor · AI pivot risk
RealDocAI / Flourish ✓ LangChain/RAG ✗ Patient-facing US only B2C · Watch closely
Telehealth platforms (Midi Health, Gennev, Maven Clinic, Balance/NewSon Health) are categorised as potential acquirers and channel partners, not direct competitors. They deliver care. We train the people who deliver care.

10

Strategic Roadmap

From beachhead to standard of care
1
Now · Year 1 · Pre-Seed Funded

Certification Platform: Individual Clinicians, Private Clinics, Gyms, Allied Health

Build the evidence engine. Launch the MVP. Sign first 50–100 US and UK certification clients. Name the clinical advisor. Reach $150–300K ARR at Month 18. Validate geographic launch decision through customer discovery.

Clinical advisor named M1–2 MVP live M6–9 5 customers M9–12 25 certified practitioners M12–15 Series A initiated M16–18
2
Year 1–2 · Seed Funded

Clinical Decision Support and Enterprise Channels

Layer clinical decision support as a premium tier. Open insurance and corporate wellness channels. Integrate wearable platforms. FDA SaMD review complete. Medical Advisory Board formed.

Decision supportWearables Insurance channelCorporate wellness
3
Year 2–3 · Series A

CE Accreditation Partnerships: US and UK

ACCME accreditation via clinical partner. ANCC for nursing and NP education. BMS or FSRH CPD partnership in the UK. Hospital CE departments engaged. The Menopause Society partnership conversation initiated.

ACCMEANCC BMS / FSRHHospital CE
4
Year 3–5 · The Culmination

Medical Education and Systemic Change

Medical schools, residency programmes, NHS institutional procurement. The Menopause Society is building its own digital education platform (NextGen Now) with $5M in Cohen Foundation funding. Kōnenki.ai's differentiation is the allied health, clinician, and private clinic scope TMS does not serve. The Phase 3 conversation is a partnership on infrastructure, not a competition on audience. The goal is not an exit. It is changing the standard of care permanently.

The Menopause Society partnershipNHS Medical schoolsResidency programmes

11

Team

Enterprise distribution, platform expertise, clinical credibility in build
Founder and CEO
Nawarh Khalil
Enterprise Sales, Partnerships and AI, 20+ Years

Alliances and channel leader with 25+ years building ecosystems across Cloud, SaaS, and AI with the world's leading technology companies, including all three hyperscalers. Proven record driving strategic partnerships, revenue growth and go-to-market execution across Microsoft, SAP, Databricks, Google, Dell, and Qlik. Deep C-level relationship experience and a direct line to the enterprise buyers Kōnenki.ai serves.

Clinical Team · Active Search
Clinical Team
Led by an MSCP-certified physician · Multi-specialty clinical team in build

A clinical team with a named lead physician at its centre. The lead is MSCP-certified and anchors the evidence framework and Human-in-the-Loop governance. The broader clinical team covers the full scope of perimenopause and menopause care: cardiovascular health, neurological function, bone density, mental health, and metabolic risk. This is a strategic differentiator, not a checkbox. Clinical conversations in progress.

MSCP-certified lead GRADE-aligned Human-in-the-Loop Multi-specialty
Co-Founders: Platform and Technology
Wonder Inc
Mission-Led Innovation Agency · Platform Design · AI/LLM Architecture · Brand Strategy

Clients include AstraZeneca, British Council, UKRI, British Academy, Cambridge University Press, Pearson, LSE, Chatham House, SOAS, and the Royal College of Art. Active engagement across three phases of the Kōnenki.ai build.

Active engagement
Mike Bond MA(RCA)
Chief Brand Officer, Wonder Inc · Co-founder, Bond & Coyne
Brand strategist and educator working at the intersection of design, technology, and learning. Lectures in brand, creativity, and design thinking at the Royal College of Art, University of Bath, and Cambridge University. Fellow of the Royal Society of Arts. Authored the Periodic Table of Creative Confidence. Clients include Apple, Canva, and the Royal College of Occupational Therapists.
Martin Coyne
Chief Product Officer, Wonder Inc · Co-founder, Bond & Coyne
Designer, strategist, and entrepreneur with 20+ years building and delivering for the world's most recognised organisations. MA, Royal College of Art; trained at Central Saint Martins. Recent work includes City St George's University of London's AI-enabled learning copilot and the British Film Institute's digital learning platform. Member, Design Business Association; Learning Council, BIMA.
Dr. Hanaa Almoaibed
CEO, Wonder Inc · Founder, Prolegomena
Educator, researcher, and entrepreneur with a decade of expertise in curriculum design, vocational education, and lifelong learning systems. PhD, UCL Institute of Education; MSc, LSE; BA, University of Washington. Published in the British Journal of Middle Eastern Studies, Journal of Vocational Education and Training, and peer-reviewed volumes with Bloomsbury, Springer Nature, and Palgrave Macmillan. Associate Fellow, Chatham House; Non-Resident Senior Fellow, Atlantic Council.
Planned hires: pre-launch and Phase 1
Pre-Launch · Critical
Clinical Lead (MSCP)
MSCP-certified physician. Evidence framework and Human-in-the-Loop governance.
Pre-Launch · Critical
Healthcare Regulatory Attorney
HIPAA, GDPR, FDA SaMD specialist. Referral in progress.
Phase 1
Head of Clinical Content
Curriculum design, assessment architecture, evidence updates.
Phase 1
Head of Commercial and Business Development
B2B SaaS, healthtech or wellness sector. US or UK depending on launch decision.
Advisory
Advisory Board
Multi-disciplinary: clinical specialists, pharma, legal, commercial, financial, and sector expertise. Roles to be identified.
Institutional Partner
Academic and Curriculum Partner
Institutional partner · Discussions in progress.

12

The Ask

$1.5M pre-seed · 18-month runway · Series A ready
Pre-Seed Round · 2026
$1.5M
18 months of runway to name, build, launch, and prove
18 mo
Runway to Series A-ready milestones
M6–9
MVP live and first customers onboarded
$150–300K
ARR target at Month 18 (modelled)
What the $1.5M Funds
Month 1–2Clinical advisor named and contracted. Changes every investor and institutional conversation.
Month 6–9Platform MVP live. De-risks the technical question. Wonder Inc build timeline.
Month 9–12First 5 paying customers. Proof of willingness to pay.
Month 12–1525 certified practitioners. Certification mark has real-world presence.
Month 6Geographic launch decision validated by customer discovery data.
Month 16–18Series A raise initiated with proof of model, demand, and team.
Budget Summary
Platform build (Wonder Inc + full MVP) (modelled, pending Wonder Inc confirmation)$381K
Clinical and medical (CMO, content)$240K
Legal and compliance (HIPAA, regulatory)$75K
Team (founder + Head of Commercial)$360K
Operations and tools$54K
Go-to-market$75K
Contingency (15%)$176K
Total $1.361M
Rounded to $1.5M. Full line-item breakdown in Appendix A.

Get in Touch
A New Season.
A New Standard of Care.
[email protected]
konenki.ai · konenki.uk

A

Appendix A: Full Budget Breakdown

18-month use of funds: all assumptions labelled
Key: Confirmed from Wonder Inc proposal. Sourced traceable to named reference. Modelled estimated from comparable benchmarks, basis noted. Platform build cost to be confirmed with Wonder Inc before close.
ItemBasis18-Month Total
Platform Build
Wonder Inc Phase 1 & 2 engagementConfirmedWonder Inc proposal: £10,000 (~$13K)$13,000
Full platform MVP buildModelledHIPAA-compliant AI SaaS with RAG layer: $150K–$500K range (Ptolemay 2025; Biz4Group 2025). Mid-point applied. To confirm with Wonder Inc.$350,000
RAG infrastructure and AI running costsModelledVector DB $25–50/mo (Pinecone/Weaviate); LLM API costs at MVP scale over 18 months.$18,000
Platform subtotal$381,000
Clinical and Medical
Fractional CMO / Clinical LeadModelled$8–15K/mo range for fractional clinical lead (Quintuple Aim, 2025). $10K/mo applied for part-time MSCP-certified profile.$180,000
Clinical content and curriculumModelledGRADE-aligned evidence layer, assessment design, specialist modules. $4–5K/mo for specialist contractor over 12 months.$60,000
Clinical subtotal$240,000
Legal and Compliance
Healthcare regulatory attorneyModelledHIPAA/FDA SaMD specialist: $300–500/hr; $25–50K for foundational setup (LA Tech & Media Law, 2025). Mid-point applied.$40,000
HIPAA compliance infrastructureModelledHIPAA documentation required for healthcare VC diligence and BAA execution. Covers BAAs, privacy officer, risk assessments, and audit logging. [Source pending: West Monroe Partners, 2025]$20,000
Corporate legal (entity, IP, contracts)ModelledDelaware C-Corp, IP assignment, founder agreements, advisor contracts.$15,000
Legal subtotal$75,000
Team
Founder salary, Nawarh Khalil, 18 monthsModelledPre-seed CEO salary benchmarks: $100–150K annually. $120K/yr applied.$180,000
Head of Commercial, first market, 18 monthsModelledSenior B2B SaaS sales, healthtech sector: $110–140K base. $120K/yr applied. Second geography deferred to Series A.$180,000
Team subtotal$360,000
Operations
Operations, tools, subscriptionsModelledCRM, PM tools, cloud hosting, accounting, HR admin. $3–5K/mo for early-stage SaaS.$54,000
Operations subtotal$54,000
Go-to-Market
Customer discovery and researchModelledStructured interviews, focus groups, field research across US and UK segments.$20,000
Conferences and partnershipsSourcedThe Menopause Society Annual Meeting ~$1,200; AmSpa Annual ~$1,500; BMS events; travel. 3–4 key industry events over 18 months.$25,000
Brand, marketing, collateralModelledWebsite, cert mark design, sales decks, first-customer acquisition support.$30,000
GTM subtotal$75,000
Contingency
15% contingency bufferModelledStandard pre-seed contingency. Accounts for TBD geography, platform scope changes, and hiring timeline variance.$176,000
Total 18-month ask (rounded to $1.5M)$1,361,000

B

Appendix B: Funding Landscape

VCs, grants, and strategic routes: US and UK
$2.6B
Women's health VC investment in 2024: record high
SVB, 2025
37.7%
VC funding captured by mixed-gender founding teams in 2025
PitchBook data, Inc., March 2026
1.1%
VC funding captured by all-female founding teams in 2025
PitchBook data, Inc., March 2026
70%
Women's health deals at seed or Series A in 2024
SVB, 2025
Women's Health and Femtech VCs: Priority
Avestria Ventures US
Explicitly invests in menopause by name. Early-stage focus. Portfolio includes Midi Health. Most directly aligned investor in the market.
Emmeline Ventures US
Pre-seed and seed, $50–100K first cheques. Female founders, women's health mandate. Backed Prickly Pear Health, 2025.
Female Founders Fund US
Leading institutional seed for female founders. $3B+ enterprise value portfolio. Founded by Anu Duggal.
Rogue Women's Fund US
Early seed, avg $500K cheques. B2B SaaS and B2B2C. Women's health explicitly in scope.
Alumni Ventures + Gaingels Both
Most active femtech investors since 2019 per PitchBook data. Active in category.
Mission-Aligned and Philanthropic
Pivotal Ventures (Melinda Gates) Both
$250M in women's health grants. $1–5M per organisation for mission-driven entities globally.
Fearless Fund US
Pre-seed to Series A. Women of color-led businesses. Inclusivity mandate alignment.
Steven & Alexandra Cohen Foundation US
Already granted $5M to The Menopause Society for digital education (Oct 2025). Co-investment route via The Menopause Society partnership in Phase 3.
Non-Dilutive Grants: UK
Innovate UK Women in Innovation UK
Up to £75,000. Female founders, MVP stage. Cycle 2025/26 closed Feb 2026. Next cycle late 2026. Apply early..
Innovate UK Biomedical Catalyst UK
Up to £2M for digital health. SMEs eligible. Strong fit for Phase 2 clinical decision support product.
UKRI / NIHR i4i Programme UK
Proof-of-concept through real-world validation. NHS adoption pathway built in. Phase 2 onward.
Accelerators and Strategic Routes
Creative Destruction Lab (CDL) Both
AI and deep tech accelerator with US and UK presence. CDL Seattle introduction active. May 1st Computational Health Lab Day confirmed. Priority accelerator route.
UCL Health Business Incubator UK
Warm lead via Wonder Inc. Clinical networks, NHS pathways, investor introductions.
Creative Destruction Lab (CDL) Both
Computational health stream. AI and deep tech orientation. US and UK presence. Active engagement initiated.
Rock Health US
Leading US digital health accelerator. Strong women's health portfolio. Deck review committed.
AstraZeneca Both
Wonder Inc existing client. Warm intro route to corporate venture arm, active in women's health.
NSF SBIR Digital Health USPaused
Paused Dec 2025 pending congressional reauthorisation. Monitor. Phase I up to $275K non-dilutive when active.
NIH SBIR / STTR USLapsed
Legislative authority lapsed Oct 2025. No active solicitations as of March 2026. High-priority once reauthorised.
The $1.5M round does not need to be filled by a single investor. A lead VC ($750K–$1M) combined with a non-dilutive UK grant (Innovate UK £75K) and angels from the enterprise network is a credible and common pre-seed structure.

C

Appendix C: Learning Science Evidence Base

The research foundation behind Kōnenki.ai's pedagogical design
Each platform design decision in Kōnenki.ai maps to a specific, published mechanism from learning science and cognitive psychology research. This appendix provides the full citation base for claims made in slide 03B.
Retrieval Practice
Testing Effect

Retrieving information from memory produces stronger long-term retention than re-studying the same material. This effect holds across domains, age groups, and material types. The platform's generative assessment design, where questions and scenario parameters vary dynamically rather than being drawn from a fixed bank, applies this mechanism directly.

Roediger, H.L. and Karpicke, J.D. (2006). Test-enhanced learning: taking memory tests improves long-term retention. Psychological Science, 17(3), 249–255.
Spaced Repetition
Spacing Effect

Memory retention decays in a predictable curve. Studying material at spaced intervals, timed to occur just before forgetting sets in, rebuilds and strengthens retention more efficiently than massed or blocked study sessions. The platform's algorithmically timed micro-learning nudges and competency review prompts apply this mechanism to busy practitioners who cannot commit to extended study sessions.

Ebbinghaus, H. (1885). Über das Gedächtnis (Memory: A Contribution to Experimental Psychology). Leipzig: Duncker and Humblot. Replicated and extended extensively; see Cepeda, N.J. et al. (2006). Distributed practice in verbal recall tasks: a review and quantitative synthesis. Psychological Bulletin, 132(3), 354–380.
Contextual Application
Situated Learning

Learning that is embedded in authentic, contextually relevant activity transfers more reliably to real-world practice than decontextualised instruction. For practitioner education, this means simulating the situations practitioners will actually encounter. The platform's AI-generated client persona simulations place practitioners in realistic perimenopause consultations, making the learning immediately applicable to clinical behaviour.

Lave, J. and Wenger, E. (1991). Situated Learning: Legitimate Peripheral Participation. Cambridge: Cambridge University Press.
Adaptive Pathing
Cognitive Load Theory

Working memory is finite. Presenting learners with material that exceeds their current capacity impairs learning rather than accelerating it. Conversely, presenting material pitched below current competency is inefficient. Adaptive systems that continuously estimate a learner's knowledge state and pitch content to the appropriate level maximise the efficiency of learning time. The platform's competency gap detection and module sequencing apply this mechanism.

Sweller, J. (1988). Cognitive load during problem solving: effects on learning. Cognitive Science, 12(2), 257–285. See also: van Merriënboer, J.J.G. and Sweller, J. (2005). Cognitive load theory and complex learning: recent developments and future directions. Educational Psychology Review, 17(2), 147–177.
Evidence Currency
Evidence-Based Practice

Clinical practice that does not update with current evidence causes harm. The half-life of medical knowledge varies by specialty, but in rapidly evolving fields like menopause care, guidelines can shift significantly within two to three years. The platform's agentic evidence surveillance layer monitors primary sources continuously and routes updates through clinical review before any curriculum change is applied, ensuring practitioners are certified against current, not outdated, evidence.

Sackett, D.L. et al. (1996). Evidence based medicine: what it is and what it isn't. BMJ, 312(7023), 71–72. On knowledge half-life in medicine, see: Densen, P. (2011). Challenges and opportunities facing medical education. Transactions of the American Clinical and Climatological Association, 122, 48–58.
Telementoring Model
Case-Based Learning

A structured telementoring programme using case-based, iterative peer learning significantly improved clinician confidence across all menopause competency domains assessed, including breast health, sexual dysfunction, and weight management. This is the most directly relevant published evidence for the Kōnenki.ai model: structured, case-driven education, applied to the specific competency gaps Kōnenki.ai addresses.

OHSU Center for Women's Health / Oregon ECHO Network (2026). Project ECHO menopause telementoring programme outcomes. Menopause, April 8, 2026. DOI pending at time of writing.