Fireside Ventures-backed at-home diagnostics firm Inito has raised fresh capital to expand its offerings beyond fertility and build a broader at-home hormone and health diagnostics platform, the company said on Thursday.
The Chennai-based platform has secured $29 million (Rs 261 crore) in a Series B round, led by Bertelsmann India Investments (BII) and co-led by existing investor Fireside Ventures, taking its total equity funding to $45 million.
Launched in 2021, Inito’s fertility monitor offers quantitative hormone diagnostics at home. The company claims to have analyzed more than 30 million hormone data points to date. The device tracks biomarkers including FSH, estrogen, LH, and PdG (a urine metabolite of progesterone), while its AI models interpret the readings to identify hormone patterns.
The company is now moving beyond fertility to build a broader at-home hormone and health diagnostics platform powered by AI-engineered antibodies.
“We have always believed that healthcare should start at home. Hormones shape fertility, mood, metabolism, sleep, and energy, yet reliable testing still relies on clinic infrastructure,” co-founders Aayush Rai and Varun AV said.
In its maiden fundraise in late 2014 at the pre-seed stage, Inito raised around $0.3 million for a 20% stake from Mecheri Smart Capital. In early 2016, the company raised another $1.7 million in a round which saw participation from Mecheri, QRG Investments and Holdings, KP Knowledge Park, Guerrilla Venture, and a few angel investors, according to VCCEdge. The company appears to have raised additional capital between 2016 and 2023, before Fireside Ventures came on board in late 2023 with a $6 million cheque.
In FY25, Inito’s topline growth slowed to 27%, with revenue rising to Rs 67.6 crore, compared to more than double growth to Rs 53.17 crore in FY24, according to VCCEdge.
The company, founded in 2015, began generating meaningful revenue only after FY19, when it clocked nearly Rs 2 crore in operating revenue.
Meanwhile, BII, founded in 2012, is a sector-agnostic venture capital fund focusing on early growth-stage startups (Series A to C). With an AUM of around $1 billion, its portfolio includes Shiprocket, Eruditus, Licious, Nat Habit, LetsTransport, and Orange Health Labs.
