Hyderabad-based Mapmygenome India Ltd, a genetic testing startup which offers a variety of services in the domains of personal genomics, molecular diagnostics, DNA forensics and brain wellness, has raised Rs 7 crore ($1.2 million) in a pre-Series A round from a bunch of angel investors, as per a company statement.
The investors include Aarti Grover (managing director of CMS Computers), Rajan Anandan (managing director, Google India), Arihant Patni, (managing director of Hive Technologies) and Satveer Singh Thakral, CEO of Singapore Angel Network, among others.
The company will use this money to enhance its services, increase its talent pool as well as invest in research and development and will be looking at expanding globally in the coming months.
Anu Acharya, CEO of Mapmygenome, said, “This round of funding will help in scaling up our operations in India and globally. We will also be expanding to Singapore and Malaysia in the coming months as per our international expansion plans.”
Satveer Singh Thakral, CEO of Singapore Angel Network, and one of the investors in the firm, said, “As India’s economy develops, we strongly believe that preventive healthcare will form a rising share of the household budget. Genome mapping is at the frontier of technological innovation in this context and we are backing this experienced team to scale and make this technology commercially available to people from all walks of life who are pro-active about their health.”
One can book for its services from its own online store (www.mapmygenome.in) or through its e-commerce partners such as Snapdeal.com, Amazon.in, or from the network of hospital partners.
Avendus Wealth Management Pvt. Ltd, the wealth management subsidiary of Avendus Capital Pvt. Ltd., acted as advisor for this funding.
(Edited by Joby Puthuparampil Johnson)