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Genomics-based diagnostics and research services provider, MedGenome today said it has recieved $20 million Series B funding from Sequoia Capital.
The investment will support MedGenome in accelerating the expansion of its portfolio of genetic tests, sequencing facilities in India and the US, and expanding its network with speciality hospitals / clinics and genomic research institutions in India.
"The influx of next generation sequencing and high-throughput data is changing the landscape of computational biology. This has resulted in the need for more robust infrastructure, tools, and techniques for genomic analysis. MedGenome has firmly established itself as a global market leader in genomics-based diagnostics and research from India," said Abhay Pandey, Managing Director of Sequoia Capital.
MedGenome's recently launched the Natera's Panorama, a Non-Invasive Prenatal Test (NIPT) this year. NIPT adds to MedGenome's current offering of more than 100 genetic tests across multiple disease areas such as cancer, eye and neurological disorders, metabolic disease and other rare cancers.
With a Sequencing (NGS) lab in Bangalore, MedGenome offers genomics-based end-to-end diagnostics solutions in India.
"India suffers the largest burden of inherited diseases, about 5-6% of the children are born affected. Further, the adoption of Western lifestyles has largely increased the occurrence of diabetes, cancer and cardiovascular disease", said Sam Santhosh, CEO, MedGenome.
MedGenome's Series A funding round was led by Emerge Ventures. With the conclusion of Series B funding, Abhay Pandey (Sequoia Capital) will join the Board of Directors which includes Sam Santhosh, Mahesh Pratapneni (Emerge Ventures) and Dhiraj Rajaram (Mu Sigma).
