Question 1

I noticed that you are using a different platform for this round.I previously invested with Republic.

Accepted Answer

Yes! Wefunder now offers a great deal for YC companies, so we decided to work with them for this raise.

Question 2

I invested in Republic and i am very happy to see impressive revenue growth. I have few questions. 1. Do you expect to have similar revenue growth of 600% yoy for the next few years? why or why not? 2. What is the revenue projection and goal for the next five years(maybe reven...

Accepted Answer

We are aiming to continue revenue growth in 2021, but our next major revenue inflection point will be upon FDA clearance of the HomeLab system. Our current revenue is from pharmaceutical R&D collaborations. We are currently in the design for manufacturing (DFM) phase of the HomeLab system. This raise will provide the capital necessary for getting manufactured units in the hands of patients for evaluation this summer.

Question 3

(1) What specific metabolic markers will the HomeLab RMX cartridge be able to test for? (2) Can you provide a specific example of how in-home frequent blood monitoring can result in better, cheaper outcomes for patients? The reason I ask this is, in my mind, in order for this ...

Accepted Answer

Hi Nathan - thanks for the questions. Here are my answers: (1) The HomeLab RMX cartridge will include a subset of tests from the Comprehensive Metabolic Panel. (2) For example, patients taking mineralocorticoid receptor antagonists (MRAs) can use HomeLab to ensure electrolytes do not exceed safe levels which can cause adverse events (e.g. heart attacks). MRAs are known to reduce hospitalizations and mortality in certain patient populations so HomeLab would be ensuring safer use of the these t...

Question 4

Hello, congratulations on your success so far. Can you provide a time-frame (approximately) when you are planning to convert to equity this SAFE and the convertible from the Republic round? What exit strategy you are vision? From a short research made to the non direct competi...

Accepted Answer

Hi Anna - happy to provide clarity. The SAFE from this round will be converted to equity upon a subsequent priced round financing. We are aiming to raise an institutional (VC-led) Series A later this year. When we do so, this event would trigger conversion of your SAFE to equity. As you stated, we will need additional capital to commercialize and an institutional Series A will provide that capital. From there, we can focus on growth (Series B followed by IPO) or exit (acquisition) opportuniti...

Question 5

Hi Eshwar and Anup, how much money are you guys looking to raise this round?

Accepted Answer

Hey Libin! We're looking to raise $1M on Wefunder. We'll be assessing all opportunities and making a decision from there.

InnaMed (YC W17)

Using at-home blood testing technology to enable personalized medicine

$1,217,306

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InnaMed (YC W17)

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$1,217,306

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