MPower Partners Fund II (“MPower”), a Japan-based global venture capital fund, has invested in Teal Health, Inc. (hereinafter “Teal Health”), a San Francisco-based startup modernizing cervical cancer screening with the Teal WandTM , its U.S. FDA-authorized self-collection device.

Cervical cancer is one of the clearest examples of a preventable disease where the healthcare experience can hinder true prevention. Despite decades of progress in screening and treatment, only 74% of eligible women in the U.S. were up to date on cervical cancer screening, with the National Cancer Institute estimating 13,490 new cases and 4,200 deaths from the disease in 2026.  The screening rate is even lower in Japan, at 44% of women aged 20-69 in 2022 up-to-date, and 2,751 deaths confirmed in 2024. Teal Health addresses this gap by redesigning screening around women’s lives - bringing a clinically validated, convenient, and private option into the home rather than requiring patients to fit their lives around the traditional clinical experience. 

Teal Health’s solution goes beyond simply replacing the speculum. The FDA-authorized Teal WandTM enables patients to self-collect a sample at home for primary HPV testing, supported by an integrated telehealth platform that guides them from screening through results and follow-up care. In Teal Health’s nationwide SELF_CERV study of more than 600 participants, 94% preferred the Teal WandTM to in-clinic screening, while at-home collection demonstrated equivalent accuracy in detecting cervical precancer compared with clinician-collected samples.

Following the Teal Wands FDA authorization in May 2025, major U.S. screening guidelines have evolved to recognize self-collected samples as an acceptable option for HPV-based cervical cancer screening. The Teal Wand is available for women across all 50 states, and regulatory, clinical, and reimbursement tailwinds are now creating a meaningful opportunity to further expand access. Teal is also well-positioned to benefit from the January 2027 federal guidelines that will require most health plans to cover self-collection for cervical cancer screening.

MPower is proud to back Teal Health as it works towards a future where greater access, convenience, and a better patient experience translate to better health outcomes. As a solution founded by women for women, the Teal Wand is thoughtfully designed to minimize discomfort, as physical distress associated with the Pap smear is one of the most commonly cited reasons for low adherence. As Teal transitions from a D2C model toward reimbursement coverage, we have also been impressed by the team’s ability to create a scalable care model around a long-underserved healthcare need. As the company enters its next phase of growth, we look forward to supporting it through our network and experience across healthcare, strategic partnerships, and government.

Comment from Kara Egan, Teal Health, CEO & Co-founder

We built Teal around a simple belief that when healthcare is designed around women’s lives, more women will participate and better outcomes will follow. MPower shares our conviction that improving the screening experience can create meaningful impact at scale. Their global perspective, healthcare expertise and commitment to advancing women make them a powerful partner as we expand access to the Teal Wand and work toward a future where no woman dies from preventable cervical cancer.

Comment from Kathy Matsui, MPower Partners, General Partner

Cervical cancer remains a highly preventable disease, yet access to screening continues to be a significant barrier for women globally. We are thrilled to partner with Teal Health as they transform the screening experience with their patient-centric, at-home solution, which we believe will drive greater adherence, earlier detection, and ultimately, better health outcomes for women everywhere.

About Teal Health, Inc.

• CEO: Kara Egan

• Established: 2020

• Location: San Francisco, CA, United States 

• URL: https://www.getteal.com/

• Press release by company: https://www.getteal.com/news/teal-health-raises-22-million-series-a-to-expand-access-to-the-most-accurate-fda-authorized-at-home-hpv-cervical-cancer-screening

About MPower Partners

MPower Partners is a Japan-based venture capital fund with a mission to empower visionary gamechangers and unlock transformative growth. With our diverse investment team and deep global networks, we identify and support high-potential ventures both in Japan and internationally. We go beyond capital investments by helping drive true and sustainable growth among our portfolio startups via our proprietary ESG framework. On a broader level, as bridge-builders and ecosystem shapers, we hope to leave the Japanese venture capital ecosystem better than we found it, one with more diversity and scale.

Fund website: https://www.mpower-partners.com

For inquiries, please contact: info@mpower-partners.com

This press release has been prepared for the purpose of providing information to qualified institutional investors and potential portfolio companies of the Fund, and is not a disclosure document pursuant to the Financial Instruments and Exchange Act, and does not constitute a solicitation or recommendation to purchase the Fund.