MedGenome Labs Receives Series C Funding From HDFC
MedGenome Labs, a genetic diagnostics company announced on Monday that they closed in on a Series C round funding of $40 million (Rs266.11 crore) from investors HDFC Ltd, HDFC Life and HDFC Asset Management.
The company specializes in genomic testing and a genome is the genetic material of an organism. It has all the instructions to make the muscle cells and neurons.
A statement from the company explains that MedGenome will use the funds to further develop their clinical genomic testing market by entering semi-urban cities (Tier-II and Tier-III towns). They aim at providing clinical tests like non-invasive pre-natal screening (NIPT) and newborn genetic testing to the masses.
In an official statement, MedGenome stated they are also considering setting up more genetic centers in hos...