Medical tech startup Inito bags $6M in Series A funding round led by Fireside Ventures

Inito, a medical technology startup, has raised $6 million in a Series A funding round led by Fireside Ventures.

The Bengaluru-based startup was launched in 2015 to build tools for individuals to actively manage and understand their health at home. Its flagship product is Fertility Monitor, a home test that helps women track fertility hormones and provides advanced personalised analytics about their reproductive health.

Inito plans to use the funds to fuel global expansion of its hormone test, advanced AI analytics, and R&D for new tests. In the long term, the startup envisions offering diagnostic tests for various health concerns through a smartphone-based platform.

“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," said Inito’s co-founders, Aayush Rai and Varun AV, in a joint statement.

"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," they added.

“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," said VS Kannan Sitaram, Partner and Co-founder, Fireside Ventures, a VC investor for digital-first consumer brands.

The startup, which was launched in 2015 by IIT alumni Varun and Rai, had earlier raised $9M from investors including Y Combinator, physicians, and family offices.

After five years of R&D, the company launched globally in mid-2021. Inito’s users are said to have reported over 10,000 pregnancies and taken over 2.5 million tests, said the statement.