Japan-based genetic testing and research services provider Genesis Healthcare received ¥1.65bn ($15.4m) in funding from e-commerce firm Rakuten and medical device maker Omron Healthcare on Monday.
Founded in 2014, Genesis provides genetic testing for business partners as well as medical and academic institutions.
The company also operates a genetic data platform with samples from more than 550,000 people, making it the largest in Japan, and aims to increase the size to 1 million individuals this year.
Omron and Genesis have been strategic partners since 2014 and have looked to combine the former’s wearable digital health products with a genetic testing kit from the latter.
Genesis plans to utilise biometric data from Omron’s wearable devices covering areas such as blood pressure in order to improve its data platform and analyse the information within more effectively.
Diversified conglomerate Mitsui and venture capital firm Founders Fund supplied $5.1m of funding for Genesis in 2015 at a valuation of about $85m, before Rakuten invested $12.7m in August 2017. Genesis is valued at approximately $392m as of the close of the latest round.
– Image courtesy of Genesis Healthcare Co.