IncuCapital backs genetic diagnostic start-up
IncuCapital, an incubation and early-stage investment firm, has invested an undisclosed amount in Mumbai-based genetic diagnostics and research start-up Navigene Genetic Science. IncuCapital’s Surojit Nandy will join the Navigene board.
Though the transaction value is not known, VCCircle notes that recent investments by IncuCapital have been in the range of INR4-5 million ($70,000-90,000).
Navigene, which focuses on diagnosing genetic medical conditions, was co-founded earlier this year by Rishi Dixit. It provides screening services whereby new-born babies are checked for genetic disorders. The company plans to offer more direct-to-home genetic screening tests aimed at children and adults.
Navigene already has a laboratory in Mumbai and plans to launch services in more than 15 cities through partnerships with hospitals and clinics.
"There is an incredible scope of genetic diagnosis in terms of reach, usage and advanced portfolio of customised tests. These tests were considered niche till now, but we intend to deliver these tests across India in the most affordable way," said Dixit.
More on Venture
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.