Genesis Healthcare Co., a Tokyo, Japan-based genetic testing and research company, raised 1.65 Billion Yen.
Backers in the round, which brings total funding to 3.78 billion yen, and post-money valuation to approximately 42 billion yen, included Rakuten, Inc. (TSE: 4755) and Omron Healthcare Co., Ltd.
The company intends to use the funds for the development and advancement of genetic technology and applications in healthcare further strengthen the partnership (formed in 2014) between Omron Healthcare and Genesis, which jointly developed a personalized health solution business model combining a genetic test kit from Genesis and digital health wearables from Omron Healthcare.
Genesis provides a genetic data platform which exceeds 550,000 individuals, the largest in Japan and potentially in Asia. In 2018, the company aims to accumulate data of 1 million people, or 1% of the population in Japan.