Inito, a Bengaluru-based medical technology startup, has bagged USD 6 million in Series A funding round led by Fireside Ventures.
Inito was launched in 2015 to build tools for individuals to actively manage and understand their health at home. After five years of R&D, the company launched globally in mid 2021. The company claims that its users have already reported over 10,000 pregnancies, taken over 2.5 million tests and rated it the best fertility test on Amazon.
As per the company, the funding will support Inito’s global expansion of its hormone test, building even more advanced analytics using AI and invest in R&D for new tests. In the long term, Inito envisions offering diagnostic tests for various health concerns through a smartphone-based platform, empowering users with valuable insights about their health.
In a joint statement, Inito’s co-founders, Aayush Rai and Varun AV said, “We started Inito to bring a variety of tests for fertility and beyond on a single device at home; empowering people with direct access to health information and a better understanding of their bodies. We look forward to a day where Inito will be present in every household and be as ubiquitous as a thermometer. The partnership with Fireside Ventures has not only provided crucial financial backing but also valuable mentorship and strategic guidance, enabling Inito to build a leading consumer health tech brand for the world from India.”
VS Kannan Sitaram, Partner and Co-founder, of Fireside Ventures stated, “We’re excited to back Inito for our shared commitment in 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. This investment marks a pivotal moment in Inito’s journey, underlining its dedication to revolutionise the diagnostics industry and delivering valuable solutions to consumers worldwide.
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