Companies · Biotechnology

Inanovate Inc

SIOUX FALLS · Biotechnology

Diligence memoA one-page analyst read on Inanovate Inc — recommendation, valuation, rhythm, risks.
$13.0M
Total raised · real
10
Rounds
0.9×
Latest step-up
Top 41%
Sector rank · raised
Seed
Latest stage · inferred · Wed Mar 26 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Inanovate Inc looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.57× the median modeled value of Seed Biotechnology companies in 2025–2027 (99 peers) — value vs value, same stage and era.
  • Issuer reports $0–$1M revenue while modeled below niche peers.
Active
  • Last raise 15 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

Inanovate Inc is one of 4293 Biotechnology companies tracked from SIOUX FALLS. By capital raised it ranks mid-pack (ahead of 60% of sector peers), and in the long tail by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
$0–$1M
Issuer revenue
Rule 506(b)
Reg D exemption
2
Investors (latest)
2025-03-26
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MPre-Seed · 2015-12-02 Raised $502K (real) Modeled valuation $28M (est)Pre-Seed2015Seed · 2019-02-15 Raised $3.1M (real) Modeled valuation $135M (est)Seed2019Seed · 2019-11-05 Raised $439K (real) Modeled valuation $20M (est)Seed2019Seed · 2020-07-03 Raised $455K (real) Modeled valuation $20M (est)Seed2020Seed · 2022-02-14 Raised $1.8M (real) Modeled valuation $33M (est)Seed2022Seed · 2022-10-05 Raised $2.4M (real) Modeled valuation $30M (est)Seed2022Seed · 2023-12-08 Raised $1.5M (real) Modeled valuation $9.9M (est)Seed2023Seed · 2024-05-20 Raised $1.1M (real) Modeled valuation $5.7M (est)Seed2024Seed · 2024-11-08 Raised $900K (real) Modeled valuation $3.6M (est)Seed2024Seed · 2025-03-26 Raised $808K (real) Modeled valuation $2.6M (est)Seed2025+$3.1M+$439K+$455K+$1.8M+$2.4M+$1.5M+$1.1M+$900K+$808KCumulative $13M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$502K · 2015
Seed$3.1M · 2019
Seed extension$439K · 2019
Seed extension$455K · 2020
Seed extension$1.8M · 2022
Seed extension$2.4M · 2022
Seed extension$1.5M · 2023
Seed extension$1.1M · 2024
Seed extension$900K · 2024
Seed extension$808K · 2025

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$2.6M
Base estimate est.
$582K
Conservative case
$5.7M
Upside case
$4.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $27.7M · 2015-12-022015Seed · modeled $135.5M · 2019-02-15Seed · modeled $19.5M · 2019-11-05Seed · modeled $20.2M · 2020-07-03Seed · modeled $32.7M · 2022-02-14Seed · modeled $30.3M · 2022-10-05Seed · modeled $9.9M · 2023-12-08Seed · modeled $5.7M · 2024-05-20Seed · modeled $3.6M · 2024-11-08Seed · modeled $2.6M · 2025-03-262025
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
32%
Survival probability
14% low · 50% high
1.74×/yr
Annual markup
2.28×/yr upside case
1.3 yr
Elapsed time used
1.3 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$1.4M/yr
Capital velocity
10.6 yr
On record since
2015
First round
10
Rounds on file
How it compares to the market

Benchmarked against 4293 companies in Biotechnology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 1.8× above median
This company$13.0M
Sector median$7.2M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.5× of median
This company$808K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$2.6M
Sector median$64.2M

Raised more than 60% of sector peers (real $). Modeled value above 6% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #73 of 99.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Carna Inc. · Seed Raised $3.4M · modeled $12.4M (est)NRX Pharmaceuticals, Inc. · Seed Raised $3.5M · modeled $12.3M (est)Vicora, Inc. · Seed Raised $3.4M · modeled $11.9M (est)MH3D, Inc. · Seed Raised $3.3M · modeled $11.9M (est)Oral Genome Corp. · Seed Raised $3.1M · modeled $11.2M (est)Synlico Inc. · Seed Raised $5.2M · modeled $10.1M (est)Auxilium Biotechnologies Inc. · Seed Raised $7.2M · modeled $9.7M (est)Silexion Therapeutics Corp · Seed Raised $3.6M · modeled $9.6M (est)Bodark Investment Group LP · Seed Raised $3.3M · modeled $9.4M (est)Sower Solas I Sidecar III, LLC · Seed Raised $3.5M · modeled $9.3M (est)Sift Biosciences, Inc. · Seed Raised $3.8M · modeled $8.5M (est)SiVEC Biotechnologies, Inc. · Seed Raised $3.3M · modeled $8.4M (est)Inanovate Inc (this company) Raised $13.0M · modeled $2.6M (est)Inanovate Inc
CompanyStageRaised · realValue · estvs peer med.
Carna Inc.Seed$3.4M$12.4M2.72×
NRX Pharmaceuticals, Inc.Seed$3.5M$12.3M2.70×
Vicora, Inc.Seed$3.4M$11.9M2.61×
MH3D, Inc.Seed$3.3M$11.9M2.61×
Oral Genome Corp.Seed$3.1M$11.2M2.45×
Synlico Inc.Seed$5.2M$10.1M2.22×
Auxilium Biotechnologies Inc.Seed$7.2M$9.7M2.13×
Silexion Therapeutics CorpSeed$3.6M$9.6M2.10×
Bodark Investment Group LPSeed$3.3M$9.4M2.06×
Sower Solas I Sidecar III, LLCSeed$3.5M$9.3M2.05×
Sift Biosciences, Inc.Seed$3.8M$8.5M1.85×
SiVEC Biotechnologies, Inc.Seed$3.3M$8.4M1.85×
Inanovate Inc this companySeed$13.0M$2.6M0.57×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$502K2015-12-02$2.8M$27.7M85%
Seed$3.1M2019-02-15$15.3M$135.5M90%
Seed$439K2019-11-05$2.2M$19.5M90%
Seed$455K2020-07-03$2.3M$20.2M90%
Seed$1.8M2022-02-14$9.0M$32.7M90%
Seed$2.4M2022-10-05$11.9M$30.3M90%
Seed$1.5M2023-12-08$7.5M$9.9M90%
Seed$1.1M2024-05-20$5.5M$5.7M90%
Seed$900K2024-11-08$4.5M$3.6M90%
Seed$808K2025-03-26$4.0M$2.6M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$502K2015-12-02
    • First recorded raise — entered as Pre-Seed.
    • 5 investors on this round.
  2. Seed$3.1M2019-02-15
    • Raised again after 38 mo — slower than the ~14 mo sector norm.
    • Round 6.1× larger than the prior — scaling up.
    • 5 investors on this round.
  3. Seed$439K2019-11-05
    • Raised 9 mo later, in step with the ~14 mo sector norm.
    • Round 6.9× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  4. Seed$455K2020-07-03
    • Came back fast: 8 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
  5. Seed$1.8M2022-02-14
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 4.0× larger than the prior — scaling up.
    • 11 investors on this round.
  6. Seed$2.4M2022-10-05
    • Came back fast: 8 mo vs the ~14 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
    • 7 investors on this round.
  7. Seed$1.5M2023-12-08
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  8. Seed$1.1M2024-05-20
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  9. Seed$900K2024-11-08
    • Came back fast: 6 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
  10. Seed$808K2025-03-26
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 2 investors on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~12mo cadence
$808K
Modeled next size est.range $808K$1.3M
0.9×
Last step-up
$1.4M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Peter D. Los1 other2015-12
Blaine D Crissman2019-11
David Arslanian2015-12
David D Arslanian2019-02
David Ure2015-12
George D Holmes2019-02
George H. Holmes2015-12
James E Oury2019-02
James H. Oury2015-12
Kamran D Tahamtanzade2022-10
Katie D Pohlson2023-12
Kent D Lehr2022-10
Michael D Goldstein2019-02
Michael H. Goldstein2015-12
Randall H. Marfin2015-12
Registry & provenance

Inanovate Inc is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1366325
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

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Aionx Antimicrobial Technologies, Inc.BiotechnologySeed$6.3M$1.5Msame sector · same stage
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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
IVIVA Medical, Inc.BiotechnologySeed$91.0M82%
Instylla, Inc.BiotechnologySeries B$100.3M82%
Insitro, Inc.BiotechnologySeries D+$5.9B81%
Inso Biosciences Inc.BiotechnologySeed$32.2M81%
Ivenix, Inc.BiotechnologySeries B$396.9M81%
Asher Biotherapeutics, Inc.BiotechnologySeries D+$654.9M81%
IntraVu, Inc.BiotechnologySeries A$320.5M81%
Heligenics, Inc.BiotechnologySeed$11.8M81%
Frequently asked
How much funding has Inanovate Inc raised?
Inanovate Inc has raised approximately $13.0M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is Inanovate Inc's estimated valuation?
Provath's modeled valuation for Inanovate Inc is approximately $2.6M (modeled range $582K–$5.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Inanovate Inc at?
Inanovate Inc's latest modeled financing stage is Seed. Its most recent recorded round closed around Wed Mar 26.
What does Inanovate Inc do and where is it based?
Inanovate Inc operates in the Biotechnology sector, based in SIOUX FALLS.
Explore related

See where Inanovate Inc sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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