Eli Health has successfully raised $8.9 million over four funding rounds, focusing on continuous hormone monitoring through at-home technology. The platform offers real-time insights from saliva hormones, aiding women in managing their health in areas such as menopause, fertility, contraception, and endocrine conditions.
Keep reading to explore the intricacies of Eli Health's fundraising journey and the investors backing this innovative platform.
What Is Eli Health?
Eli Health, founded by Marina Pavlovic Rivas and Thomas Cortina, is headquartered in Montreal, Canada. The company specializes in at-home technology for continuous hormone monitoring, providing real-time insights from saliva hormones. With a team of 11-50 employees, Eli Health aims to revolutionize women's health by offering personalized hormone profiles.
How Much Funding Has Eli Health Raised?
- Seed Funding Round
- Amount Raised: $1.5 million USD
- Date: December 2020
- Lead Investors: Vectr Ventures and 2048 Ventures
- Motivation Behind the Round: To develop a saliva-based daily hormone tracking technology for the women's healthtech market, addressing the need for non-invasive, hormone-free alternatives to traditional contraception and fertility monitoring options.
Total Amount Raised: $1.5 million USD. Current Valuation: (~estimated) $10 million USD.
Key Investors
- Vectr Ventures
- Details: Vectr Ventures is a venture capital firm based in Hong Kong, known for investing in innovative startups. They focus on early-stage companies with disruptive technologies.
- Investment Focus Areas: Technology, healthtech, innovative startups
- Notable Investments: Various tech and health-related startups
- 2048 Ventures
- Details: 2048 Ventures is an early-stage venture capital firm based in New York City. They invest in technology companies at the seed stage.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Various early-stage tech startups
- Real Ventures
- Details: Real Ventures is a Canadian venture capital firm that invests in early-stage tech companies. They are known for supporting startups through their accelerator programs.
- Investment Focus Areas: Early-stage tech companies, particularly in Canada
- Notable Investments: Multiple Canadian tech startups
- Techstars
- Details: Techstars is a global platform for investment and innovation. They run accelerator programs and invest in early-stage startups across various sectors.
- Investment Focus Areas: Early-stage startups across various sectors
- Notable Investments: Numerous startups across different industries
- Panache Ventures
- Details: Panache Ventures is a Canadian venture capital firm that focuses on early-stage tech startups. They are known for their hands-on approach to supporting portfolio companies.
- Investment Focus Areas: Early-stage tech startups in Canada
- Notable Investments: Various Canadian tech startups
What's Next for Eli Health?
As Eli Health continues to innovate in the women's healthtech market, the opportunities are vast. The company is poised to tap into the growing femtech sector, which is projected to reach $3 billion by 2030. Their non-invasive, hormone-free technology offers significant potential for both fertility and contraception applications, addressing a critical need in women's health.
Future fundraising efforts will likely be essential as Eli Health seeks to expand its product offerings and secure regulatory approvals. The company may attract further investment to support clinical validation and market expansion. However, challenges such as overcoming historical neglect in women's health research and navigating regulatory landscapes remain. Despite these hurdles, the growing recognition of personalized care for women positions Eli Health for substantial growth.
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