Japan's Genesis Healthcare raises $5.1m from Founders Fund, Mitsui
US early stage investor Founders Fund and Japanese conglomerate Mitsui & Co have together invested JPY620 million ($5.1 million) in Genesis Healthcare, a Tokyo-based start-up that develops genetic testing kits, in exchange for a 6% stake.
Originally set up in 2004 under the name Weight Management, Genesis offers a variety of genetic testing and analysis services including DNA banking and gene testing kits to offer users insight on ancestry, lifestyle habits, alcohol metabolism, cancer risk, dietary fat intake, or skin aging. The company claims to have acquired genetic data from about 400,000 people in Japan to date.
According to a release, Genesis will use the capital injection and relationship with Mitsui & Co to expand and develop its consumer product offering in the healthcare segment. The tie up with Founders Fund, meanwhile, is expected to help the start-up expand to global markets.
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