MedGenome Raises USD 47.5 Mn in Series E Funding

New Delhi, Jul 21 (PTI) Genomic diagnostics and research services company MedGenome on Monday said it has raised USD 47.5 million (over Rs 409 crore) in Series E funding round from private equity firm Maj Invest and existing investor Novo Holdings.

The round also saw participation from Sofina, an existing shareholder in the company, the Bengaluru-based firm said in a statement.


The funding will enable the company to broaden access to its genomics and integrated diagnostics solutions across India and other emerging markets, it added.

"This fundraise also reflects the growing adoption of genomics in personalised and preventive healthcare in India as well as other emerging economies," MedGenome CEO Vedam Ramprasad said.

MedGenome offers over 1,300 high-end genetic tests across major disease categories - oncology, inherited diseases, reproductive diseases, infectious diseases, and preventive wellness.