Bengaluru-based genomics research and diagnostics startup Medgenome Labs is in the process of raising around $10 million (about ₹65 crore) in its Series C funding round. The investment is expected to led by Sequoia Capital. In August this year, the startup had already raised $30 million in a funding round led by Sequoia India and Sofina.

While further information is not available regarding the plausible funding round, however if funding takes place then this will mark the second leg of funding in the Series C round and it is believed that the startup will use the proceedings of this round to fund its expansion plans.

"In August this year, in Series C funding round, we have raised $30 million and raising another $10 million soon. The round saw investment from Sequoia India and Sofina, with participation from Zodius Capital, former Infosys CEO Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan.", said Sam Santhosh, Founder & Chairman of Medgenome.

He further added that, “we will use the funds to accelerate the company’s journey towards biomarker discovery programmes and also reach the precision medicine."

Founded in 2013, MedGenome Inc. is a genomics-based diagnostics and research company delivering the best of health care by decoding genetic information contained in an individual’s genome.

In total, Medgenome has raised $54 million in three rounds from 6 investors including Sequoia Capital, Papillon Capital and Zodius Capital, among others.

Founded in 2013, MedGenome Inc. is a genomics-based diagnostics and research company delivering the best of health care by decoding genetic information contained in an individual’s genome. On the other hand, its lab in Silicon Valley offers sequencing platforms, bioinformatics, computing, and big data analytics.

MedGenome currently has more than 360 employees across its headquarters in Foster City, California and its offices & labs in Bangalore, Delhi, and Singapore.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.