Montréal-based healthtech startup Eli Health has raised $17 million CAD (approx. $12 million USD) in a Series A round led by BDC Capital’s Thrive Venture Fund, marking one of the largest rounds for a Canadian femtech company to date.
Founded in 2019 by Marina Pavlovic Rivas and Thomas Cortina, Eli Health has developed a saliva-based hormone testing platform. Its FDA-registered “Hormometer” recently earned the Best of Innovation in Digital Health award at CES 2025.
Backed by BDC, Accelia, and Telus
New investors include Accelia Capital, Telus Global Ventures, Rocana Ventures, Swizzle Ventures, Japan’s Nextblue, and Brazil’s IKJ Capital. Existing backers such as Muse Capital, Foreground Capital, Real Ventures, Leva Capital, and Garage Capital also participated.
The startup plans to use the funds to expand manufacturing, accelerate commercialization, and develop additional hormone-tracking capabilities. Its current platform supports cortisol tracking and will soon include progesterone.
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Bringing hormonal insights to the masses
Eli Health’s solution combines a single-use saliva test cartridge with a mobile app that provides results in minutes. Subscription pricing starts at $8 per test with a 12-month commitment. The company hopes to receive Health Canada approval by the end of the year.
With over $28 million CAD raised to date, Eli Health says it’s built for long-term resilience, investing early in R&D, IP, and manufacturing. The team envisions a world where checking hormones is as routine as brushing teeth.
CEO Rivas concluded, “We didn’t follow a playbook. We built everything from scratch—with the goal of transforming how people access and understand their biology.”
