Genetics screening enterprise 23andMe has formally announced that Sequoia Money is primary an investment spherical in the enterprise. This confirms the information we broke last week.
The press release claims that the ultimate amount of money was $250 million and that Sequoia’s Roelof Botha will be having a board seat. Some others participating in the spherical include things like new buyers Euclidean Money, Altimeter Money and the Wallenberg Foundation. Existing buyers also joined, such as Fidelity Management and Casdin Money. 23andMe has raised $491 million to day.
The enterprise did not verify valuation, but we’ve noted that it was $1.5 billion pre-cash, this means ahead of the funding gets added in. The verified $250 million must deliver the complete valuation to about $1.75 billion.
The announcement claims the capital will be utilized to “accelerate purchaser development, go on funding its increasing therapeutics group, and devote in its crowdsourced genetic analysis system.”
23andMe was founded in 2006 and has because certain “millions of customers” to shell out for its genetics screening. Buyers deliver in a saliva package and then the enterprise sends again information and facts relevant to ancestry and overall health.
There are other folks in the house executing ancestry and overall health screening such as Ancestry.com and Shade Genomics.
23andMe has also created a strong analysis business enterprise. Clients can choose-in to participate in different reports, wherever they glimpse for a DNA backlink for everything ranging from melanoma to schizophrenia.
“We have only started to scratch the surface area in direct-to-shopper genetics,” claimed Anne Wojcicki, 23andMe CEO and co-founder, in a assertion. “We will go on to blaze the trail for our shoppers and direct the industry we’ve developed.”
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