Alibaba in USD40 mn boost for Hong Kong DNA-testing startup Prenetics
17-Oct-17, Tech In Asia
Alibaba, China’s USD460 bn online shopping giant, has invested in one of Asia’s top genetic testing startups. Prenetics, which makes a series of DNA-testing products, has pocketed USD40 mn, led by Alibaba and Beyond Ventures, with three other investors joining in its series B funding. It comes 19 months after the Hong Kong crew’s first major round, worth USD10 mn.
%20luchschen%20_123RF.jpg "Alibaba in USD40 mn boost for Hong Kong DNA testing startup Prenetics (c) luchschen 123RF")
Image: luchschen / 123RF
The service has processed nearly 200,000 DNA samples since it launched late 2014. "We have a platform of genetic tests, and also we’ve evolved into providing digital health, all within a single app," says CEO Danny Yeung.