Bengaluru-based medical technology startup Inito has raised $6 million in a Series A funding round led by Fireside Ventures.
The company’s flagship product is a fertility monitor — a home test device for women to track fertility hormones in 10 minutes — and it provides personalised reproductive health analytics.
The funding will support the global expansion of its hormone test, build advanced analytics using AI, and enable R&D for new tests. In the long term, it aims to offer diagnostic tests for various health concerns through a smartphone-based platform.
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“We look forward to a day where we will be present in every household and be as ubiquitous as a thermometer. The partnership with Fireside Ventures has provided crucial financial backing, along with valuable mentorship and strategic guidance,” Aayush Rai and Varun AV, co-founders of Inito, said in a statement.
The startup, which took off in 2015 after five years of R&D, launched the product globally in mid-2021. It says it has clocked over 2.5 million tests, including confirming 10,000 pregnancies.
“We’re excited to back them for our shared commitment to making a lasting impact on healthcare. Aayush and Varun AV have brought together the best in technology and consumer thinking to disrupt the women’s healthcare market,” said VS Kannan Sitaram, Partner and Co-Founder of Fireside Ventures.
Published on November 16, 2023
