Medical technology startup Inito said it has raised $6 million in a Series A funding round led by Fireside Ventures, according to ETtech report.
The company, launched in 2015, helps women track fertility hormones and provides personalised analytics on reproductive health through its flagship product, the Fertility Monitor.
Inito’s technology uses a combination of hardware, biotechnology and machine learning to improve the accuracy, reliability and density of test strips, allowing them to measure multiple parameters on a single testing platform.
The company will use the fresh funds to push the global expansion of its hormone test, build on its analytics using artificial intelligence (AI), and invest in R&D for new tests. In the long term, the company aims to offer diagnostic tests to address various health concerns through a smartphone-based platform.
“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,” cofounders Aayush Rai and Varun AV said in a joint statement.
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