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2015-03-10

Mapmygenome raises $1.1 million in Pre Series A round of funding

This round of funding will help Mapmygenome to scale up their operations in India and globally, and expand their leadership team.

Hyderabad-based Mapmygenome, the pioneers of personal genomics and predictive tests with their flagship brand Genomepatri, have raised $1.1 million in Pre Series A round of funding from multiple sources including several entrepreneurs and angel investors.

The list of investors include names like Aarti Grover MD – CMS Computers, Rajan Anandan MD - Google India, Arihant Patni – Managing Director at Hive Technologies and Satveer Singh Thakral – CEO of Singapore Angel Network among others. Avendus Wealth Management Pvt. Ltd, the wealth management subsidiary of Avendus Capital Pvt. Ltd., were the advisors for this round.

Anu Acharya, CEO, Mapmygenome, said, “This round of funding will help in scaling up our operations in India and globally. We are looking to expand our team (Leadership, Sales and marketing and genetic counseling network) where our focus is on quality of talent – education and expertise. We are also looking to invest in some assets and scale up our research.”

“There is a tremendous future for this sector in our country and Mapmygenome is a pioneer in this space,” said Aarti Grover, MD at CMS Computers.

“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,” said Satveer Singh Thakral, CEO Singapore Angel Network.

George Mitra, CEO, Avendus Wealth Management Pvt. Ltd. added, “With rising affluence and lifestyle changes in India, predictive diagnostics is increasingly becoming a part of the holistic health movement amongst Indians. Mapmygenome has been the pioneer of such testing is India. Our clients and Avendus Wealth Management are excited about the promise and potential of Mapmygenome.”

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