Deal Abstract

Invest in InnaMed (YC W17): Using at-home blood testing technology to enable personalized medicine | Wefunder
Using at-home blood testing technology to enable personalized medicine

Theranos 2.0 trying to go B2B to B2C first. But will their technology be commercially profitable?

Financials (VRB)

Question Notes
1. Fundraising Target? $1000070
2. Fundraised So Far? $532773
3. Pre-Money Valuation? $25000000
4. Previous Year's Annual Revenue $1439995
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-212485
Source

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? False: Philadelphia, PA
2. Has at least 2 founders? True: Two
3. Has product in the market? False: Raising money to launch product
4. 6 months of continuous user growth or 6 months of revenue? True: impressive
5. Notable investors? True: Y-Combinator
6. Post-funding, will have 18 months of runway? True: Already has 4 years runway at present
Source

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 2 Looks better than Theranos but only marginally
2. Timing? 2 More telemedicine
3. Monopoly? 1 No usage in the market
4. People? 3 Good team, but no one whose taken a biomed device to market
5. Distribution? 1 Selling to B2B
6. Durability? 3 If they can build it, super durable
7. Secret? 2 By using the arm patches instead of a 'drop of blood', Innamed can make Theranos business go rihgt

What has to go right for the startup to return money on investment:

1. Monetize well with B2B; 2. Eventually get the blood sample size down/UI simple enough to go to consumer; 3. Manufacture product at scale

What the Risks Are

1. Hardware risk/no 10x innovation; 2. Pricing and product risk; 3. Servicing costs at scale

Bonus Muhan's Notes

Maybe unfair, but this company would have to solve all of Theranos' problems and then some to make money. Here is notes from the


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