Bengaluru: Genomic diagnostics services company,MedGenome, announced that it has raised $47.5million (over ₹400 crore) in its Series E funding round.
The investment round was co-led by private equity firm Maj Invest, an existing investor Novo Holdings and an existing shareholder Sofina.
“This funding will enable us to broaden access to its genomics and integrated diagnostics solutions across India and other emerging markets,” the company said in a release.
Started in 2013, MedGenome offers over 1,300 genetic tests at over 6000 hospitals, which serve nearly 400 regions across the country.
“MedGenome stands out as a science-led platform with strong fundamentals, and this investment aligns with our conviction in the growing importance of genomics and personalised healthcare across emerging markets,” said Dr Amit Kakar, Managing Partner and Head of Asia at Novo Holdings.
“With its robust genomics portfolio, MedGenome has consistently demonstrated its ability to drive innovation and precision diagnostics. We’re proud to support their next phase of growth, expanding their solutions to more markets in India and worldwide.” Jannick Dam Mortensen, Partner, Maj Invest Minorities, added.
