Invest in Rapid at Home Blood Testing Backed by Y-Combinator

Plus, the future of office space with CBRE.

Heyyyo,

I’m writing today’s pitch review from the delivery room at CDH (about to welcome our second baby girl into the world :) So, let’s keep this brief shall we…

Quick recap from last week, I shared my purchase of Coursera’s IPO at $38 — today we’re at $50, up a cool 30%. I hope y’all jumped on it!

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For my newbs; every week I breakdown a startup pitch with the added hook that you don’t have to be a rich guy to invest (if you don't know what that means, click here).

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On The Pod: If you ask me WFH can stay for all of eternity, but if you ask Google and dozens of other major companies leasing up space in Chicago (and across the country) it certainly appears I’m in the minority there — that said, figuring out office space is a legit problem for a lot of owners and founders. So, rather than pontificate with a clear bias, I invited my friends Brad and Tony from CBRE Chicago on the pod!

Here’s my podcast with CBRE Vice Chairman Brad Serot and VP Tony Coglianese 👉 https://spoti.fi/3sYzWru

Follow me on Twitter @kitun.

Scott

#pitchreview time!


Company Bio

InnaMed makes monitoring and analyzing blood test data fast and seamless by providing an all-in-one platform that will capture, analyze and distribute test data in a way that is not only fast, but drastically reduces the need to visit a doctor. Additionally, they’re launching a digital platform which allows you to access and experience digital health services.

If you know anyone that is constantly in-need of blood testing, participating in trials or experimental healthcare or should be but isn’t because it’s impossible to navigate — InnaMed is for you. Also, no, this is not like Theranos. I asked (literally my first question to the founder). This is proven tech and science that has been in use for years, but never like this. They solve a massive problem for both healthcare workers and patients and the Teleheath opportunity they’re going after is literally trillions of dollars globally (just ask Glen Tullman!)


Meet the Founder

Watch my full interview with InnaMed’s CEO Eshwar Inapuri, here.

Eshwar is a Y Combinator-backed founder and bioengineer. Before starting InnaMed, he conducted R&D at UPenn for 4+ years combining microfluidics, optics and cloud computing to develop proteomics. Eshwar’s work is published in PNAS and exclusively licensed to another venture-backed startup.

Eshwar is very impressive (as is his team). It took me all of 30 seconds to ID him as a very technical founder with a clear passion for the problem he’s thus far dedicated his life to solving. His business acumen is aided by his experience at Y-Combinator which is no replacement for experience, but certainly helps. As a respected figure in both tech and medtech, Eshwar is the type of founder investors look for — a leader that makes you believe in impossible things. He and the team will certainly endure some growing pains and fierce competition as the Telehealth space booms over the next 5 years.


Traction

  • Raised $2M+, backed by Y Combinator and leading Silicon Valley investors

  • $1.4M+ in revenue in 2020 (6x YoY) from ongoing, multi-year pharmaceutical R&D collaborations

  • Received grants from NASA and US Dept. of Health & Human Services for innovative HomeLab® technology

  • 9 patent applications and 5 peer-reviewed publications on technology

  • Initially targeted towards specific clinical applications totaling $5B+ in market potential 

  • Led by innovators from UPenn and experienced execs from UCSF, Duke, $ASND, $ABT, and $CDNA

What’s not to like? I mean, honestly, the space is blowing up and tbh I think the market is much bigger than reporting suggests — if you can believe that. There’s going to be a megaton of well-funded competitors for InnaMed, but the reality is if the tech proves out there will be no shortage of acquirers and that’s assuming they don’t strike a deal with CVS or a large hospital group that makes them a cash cow as we all transition towards mobile monitors, digital data analysis and telemedicine. YC backed, buy-in from NASA, DoH and peer reviews all suggest this is more than a pipe dream!

What’s more, InnaMed’s already generating revenue with compound growth!


Terms & Takeaway

Invest in InnaMed here 👉 https://bit.ly/3wHmmuS

Security Type: SAFE
Valuation Cap: $25,000,000
Raised (as of publishing): $836,385
Minimum Investment: $100

Here's what I like: I absolutely love the founder (I actually interviewed him a few years back on my WGN Radio show). I (and my stonk portfolio) are hot for Telehealth because the problem/solution set are beyond obvious. I think if InnaMed gets this right, it will be EVERYWHERE! It’s Alexa Show with a scanner — feeling under the weather, scan and talk to a doctor immediately.

Here's what I don't love: There’s going to be a TON of competition and the tech isn’t exactly new or protectable — accuracy is, however. If their product is superior, they will win, if not, marketing and sales will be the only defense mechanism. Beyond the competitive landscape, there’s really nothing not to like here. Amazing founder, access to capital, great strategics and green field that spans the globe.

If I had to nitpick, the $25m value cap is steep, I’d like it closer to $15m at this stage; but, if it weren’t for Reg CF we couldn’t invest anyways.

Who should invest and why: If you invested in Livongo’s IPO, stuck with Teladoc when they acquired Livongo and went shopping for more Telehealth companies this has your name all over it. Additionally, if you or loved ones deal with constant doctor visits or blood testing, investing in startups that push that space forward is the best way to help. And, lastly, if you’re the type to throw in on high risk, high reward startups in massive markets InnaMed has it all.

As always, startup investing is super high-risk, anything can happen. So, don't invest money you can’t burn on a giant Amazon DigiDoctor 🚑 💸

Invest in InnaMed here 👉 https://bit.ly/3wHmmuS

Questions? DM me on Twitter @kitun


Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.