InnaMed

Using at-home blood testing technology to enable personalized medicine

Analytics

Raised to Date: $1,056,081

Aggregate Commitments $
Platform

Wefunder

Start Date

03/05/2021

Close Date

04/30/2022

Min. Goal

$100,000

Max. Goal

$3,930,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Series A

Valuation Cap

$25,000,000

Discount Rate

0%

Rolling Commitments $
Status

Active

Reporting Date

05/12/2021

Days Remaining

350

% of Min. Goal

1,056%

% of Max. Goal

27%

Likelihood of Max
extremely
Avg. Daily Raise

$15,531

# of Investors

1,222

Momentum
cool
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Location

Philadelphia, Pennsylvania

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

High

Business Type

High Growth

InnaMed, with a valuation cap of $25 million, is raising crowdfunding on Wefunder. The company is developing an at-home testing device called TeleLab. The device can be filled with several disease-specific test cartridges and helps to monitor the patients remotely. InnaMed is using modern blood collection techniques, cloud computing, and its patented electrochemical blood analysis technology to provide lab-level testing at home. The company was founded by Eshwar Inapuri, Alan Jernigan, and Anup Singh in May 2016 and has raised over $2 million in previous rounds of financing. The proceeds of the crowdfunding round, with a minimum target of $100,000 and a maximum target of $1,070,000, will be used for research and development materials and contractors, payroll, marketing, and facilities. InnaMed generated more than $1.4 million in revenue in 2020 through its multi-year collaborations.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$1,439,995

$237,435

COGS

$0

$0

Tax

$1,638

$808

 

 

Net Income

$-212,485

$-474,753

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$572,704

$844,551

Accounts Receivable

$150,000

$0

Total Assets

$914,741

$882,560

Short-Term Debt

$196,705

$3,426

Long-Term Debt

$30,000

$0

Total Liabilities

$226,705

$3,426

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Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
04/30/2022 Wefunder $25,000,000 $1,056,081 SAFE Active RegCF
07/31/2019 Republic $12,000,000 $1,070,000 SAFE Confirmed Closed RegCF
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