Women's hormonal health is shaped by change over time, yet testing often relies on one-off measurements. For conditions such as perimenopause, a single blood test offers only a snapshot, leaving women and clinicians to navigate symptoms and treatment with limited longitudinal data.
Unravel Health is building a home-testing platform designed to change this. Its handheld reader measures multiple hormones from a saliva sample in minutes, connecting the results with symptoms, cycle phase and medication through an app. We believe this approach has the potential to make hormone monitoring more accessible, consistent and personalised.
What Makes Unravel Health Different
Unravel brings together three elements: sensitive hormone measurement, multiplex testing and longitudinal data collection.
Unlike saliva-based lateral-flow products that are limited in sensitivity and typically focus on individual markers, Unravel is developing a quantitative reader designed to measure multiple hormones. Its closed-box optical system reads reactions within a cartridge, reducing the variability associated with ambient light and smartphone-camera-based approaches.
Unravel has perfected the technology with years of research and significant funding through university partnership.
The underlying sensing platform also has potential beyond women's health. Research has already been published across 15 of its 17 portfolio biomarkers, including work on prostate cancer detection. Over time, this could create opportunities to extend the platform into additional biomarker categories.
The founding team combines product and data strategy, healthtech commercialisation, medical expertise and deep technical knowledge of the underlying platform. Veronika leads product and data strategy, bringing personal experience with the problem; Liza brings healthtech scaling experience, including helping take a telemedicine business through IPO and securing major commercial partnerships; and Dr Alexandra Oti adds medical and biomedical engineering expertise. The team is supported by Prof David Cumming, Royal Academy of Engineering Fellow and lead inventor of the underlying sensing platform, whose previous optical-sensing intellectual property was commercialised in a $725 million exit. This combination of commercial, clinical and technical expertise gives Unravel a strong foundation to translate its technology into a market-ready product.
Strategic Fit with Leo Capital
At Leo Capital, we look for teams building cutting-edge technology to solve difficult problems. In particular, we have been spending a lot of time looking for opportunities in the new frontier of health at global scale, and women's health data fits squarely into that thesis.
Unravel's partnership-led approach also significantly de-risks GTM and enables distribution through existing digital health, clinical, and pharmacy channels rather than relying solely on direct consumer acquisition.
The opportunity we find most compelling is the link between proprietary sensing and a compounding longitudinal dataset. This team can own a differentiated position across diagnostics, digital health, and personalised care, and they move fast with a strong go-to-market engine.
