10th March 2015 | Mumbai | Wealth Management
Mapmygenome, the pioneers of personal genomics and predictive tests with their flagship brand GenomepatriTM in India, has raised a Pre Series A round of funding from multiple investors that includes several entrepreneurs and angel investors. Investors in this round are, Aarti Grover MD - CMS Computers, Rajan Anandan MD- Google India, 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., was the advisor for this round. The amount is being raised from Avendus Wealth Mangement’s HNI clients.
Anu Acharya, CEO, Mapmygenome, said, that the funding will help in scaling up in India and globally. “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" - 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 who have invested and Avendus Wealth Management are excited about the promise and potential of Mapmygenome.”
About Mapmygenome India
Mapmygenome India offers a variety of services in the domains of personal genomics, molecular diagnostics, DNA forensics, and brain wellness. Their products and services can be purchased from their stores online (www.mapmygenome.in), through their e-commerce partners such as SnapDeal.com or amazon.in, or from their wide network of hospital partners.
As pioneers of personal genomics in India, they created a new market in the country for predictive tests with their flagship brand GenomepatriTM in April 2013. In February 2014, the Government of Karnataka awarded them the Bio Excellence award “Emerging Company of the Year”.
Personal genomics products provide insights into the genetic basis of individuals’ health, including traits, lifestyle, drug responses, inherited conditions, and diseases. By combining genetic report and health history with genetic counseling, Mapmygenome provides actionable steps for individuals and their physicians towards a healthier life. Molecular diagnostics are tests recommended by doctors for cancer, cardiovascular, neuromuscular, and other key conditions. In India, Mapmygenome offers BRCA 1/2 whole gene sequencing for breast cancer for under INR 19,999. Mapmygenome also offers molecular tests for TB and other infectious diseases that increase accuracy at very low costs.
DNA Forensics include maternity, paternity, sibling, and other identification tests. Brain wellness includes a series of assessments for improving emotional and cognitive efficacy, for assessing leadership skills, and more.
For more information, visit www.mapmygenome.in
About Avendus Capital Pvt. Ltd.
Avendus Capital Pvt. Ltd is a leading financial services firm, which along with its associates, provides customised solutions in the areas of financial advisory, equity capital markets, alternative asset management and wealth management. The firm relies on its extensive track record, in-depth domain understanding and knowledge of the economic and regulatory environment, to offer research-based solutions to its clients that include institutional investors, corporations and high net worth individuals/families. In recent years, Avendus Capital Pvt. Ltd. has consistently been ranked among the leading corporate finance advisors in India and has emerged as the advisor of choice for cross-border M&A deals, having closed around 40 cross-border transactions in the past 5 years. Avendus Wealth Management Pvt. Ltd. caters to investment advisory and portfolio management needs of Family offices and Ultra High Networth Individuals/families, spanning all asset classes, while Avendus PE Investment Advisors Pvt. Ltd. manages funds raised from its investors by investing in public markets. Headquartered in Mumbai, the firm has offices in New Delhi and Bangalore.
Avendus Capital, Inc (US) and Avendus Capital (UK) Pvt. Ltd. located in New York and London respectively are wholly owned subsidiaries of Avendus Capital Pvt. Ltd offering M&A and Private Equity syndication services in the respective regions. Avendus Capital, Inc (US) also provides wealth management services in select jurisdictions in the USA. For more information, please visit www.avendus.com