# Inanovate

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/inanovate

- Industry: Biotechnology
- Headquarters: Sioux Falls, US
- Website: www.inanovate.com
- Total disclosed funding: $3.1M
- Latest round: Series C (Apr 3, 2019)
- Investors on record: 2

## About

Inanovate, Inc. is a biotechnology company focused on transforming diagnostic testing through innovative technology. Their systems provide rapid, precise analysis of disease-related biomarkers, catering to healthcare and research markets globally.Founded in 2006 in Sioux Falls, US, Inanovate, Inc. specializes in diagnostic solutions. The company has engaged in 4 deals, with the most recent funding round occurring in November 2019, where they raised USD 0.440 mn. The CEO is David Ure, and the company has not undergone notable pivots or restructuring since its inception.Inanovate's core product offering is the Bio-ID, a compact, bench-top analyzer designed to revolutionize diagnostic testing by enabling the rapid and precise measurement of multiple disease-related biomarkers from patient blood samples. Utilizing a proprietary technology known as Longitudinal Assay Screening (LAS), developed in 2010, the Bio-ID allows end-users to load test samples into disposable cartridges, insert them into the analyzer, and initiate a test with the push of a button. This innovative platform serves both research and clinical markets, aiming to improve diagnostic accuracy and reduce costs associated with traditional testing methods. The primary customer base includes hospitals, diagnostic laboratories, and research institutions, focusing on geographical markets such as North America, Europe, and select Asia-Pacific regions where there is a demand for advanced diagnostic solutions and protein analysis.Inanovate generates revenue primarily through the sale of its flagship product, the Bio-ID, alongside associated services such as support and maintenance for the analyzer system. The transaction structure typically involves direct sales to healthcare providers, research institutions, and diagnostic companies, emphasizing a B2B model. Clients purchase the Bio-ID analyzer and its disposable test cartridges, with potential for ongoing revenue through service contracts and consumable sales. The company may also engage in partnerships with medical facilities and research organizations to integrate its technology into existing testing frameworks, thereby enhancing its market penetration and customer loyalty.Inanovate plans to leverage the recent funding of USD 0.440 mn raised in November 2019 to support the development of new products and expand into new markets. The company is focusing on enhancing its Bio-ID platform and aims to introduce additional diagnostic capabilities by 2023. Moreover, Inanovate is targeting expansion into European and Asia-Pacific markets to increase its global footprint and meet the rising demand for advanced diagnostic solutions.

## Funding rounds

- Series C, Apr 3, 2019, $3.1M — Sanford Health, South Dakota Equity Partners

## Investors

- Sanford Health — Series C
- South Dakota Equity Partners (https://capitalatlas.ai/funds/south-dakota-equity-partners) — Series C