Prenetics, a genetic tests startup, plans to expand into more Asian countries after creating a $40 million Series B is presided over by Beyond Ventures and Alibaba Hong Kong Entrepreneurs Fund.
The round also includes uppercase from Yuantai Investment Marriage, mFund and eGarden Crusades, and raises Prenetics’ total parent so far to $50 million. The capital will be spent on commodity evolution, hiring more engineers and scientists, unitings and acquisitions and expanding in China and Southeast Asia.
Alibaba Hong Kong Entrepreneurs Fund was propelled as a nonprofit in 2015 to approval business that can potentially is engaged in Alibaba’s ecosystem. While Alibaba is best known for e-commerce, the tech monstrou likewise moves a healthcare subsidiary announced Alibaba Health Information Technology( known as Ali Health ).
Prenetics spouses with insurance companies to provide genetic tests to policyholders and is currently available in Hong Kong, Singapore, Malaysia and Thailand, with more country launches proposed as part of the enlargement of the union. It claims to have handled 200,000 DNA tests so far.
TechCrunch last-place handled Prenetics where reference is announced its Series A in March 2016. Since then, chief operating officer Danny Yeung tells us that the company has expanded from one produce to “building an entire health eco-system” that focuses on preventative health. Its gives now include genetic tests for diet, inherited health conditions, responses to remedy, gamble of inherited cancers and preconception screening. Parties who have taken a Prenetics test too have access to apps that use their DNA profile to induce diet and lifestyle recommendations.
In a press statement, Alibaba Hong Kong Entrepreneurs Fund executive director Cindy Chow said “We have been highly impressed with members of the mission and business strategy will be approved by Prenetics. In a short time, the company has emerged as Southeast Asia’s market leader in genetic testing and digital health. We look forward to working closely with Prenetics throughout Alibaba’s network of companies to provide individuals with useful health information.”