What is iGenetic Diagnostics?
iGenetic Diagnostics is a next-generation diagnostics company specializing in a comprehensive range of pathological investigations. Its services encompass specialized cytogenetic and molecular tests crucial for oncology, critical care, gynaecology, and neurology. Headquartered in Mumbai, the company operates an accredited central laboratory complemented by a network of labs and collection centers across India. With a test menu exceeding 1400 investigations, iGenetic Diagnostics is committed to integrating advanced technologies tailored for the Indian population, positioning itself as a key player in the nation's healthcare infrastructure.
How much funding has iGenetic Diagnostics raised?
iGenetic Diagnostics has raised a total of $20.5M across 2 funding rounds:
Angel/Seed
$1M
Private Equity
$19.5M
Angel/Seed (2016): $1M, investors not publicly disclosed
Private Equity (2017): $19.5M led by CDC Group Plc and Manipal Education and Medical Group
Key Investors in iGenetic Diagnostics
CDC Group Plc
CDC Group Plc is a development finance institution focused on investing in businesses in Africa and Asia to support economic development. Their investment in iGenetic Diagnostics likely aligns with a strategy to bolster healthcare infrastructure and services in India.
Manipal Education and Medical Group
Manipal Education and Medical Group is a diversified conglomerate with significant interests in healthcare and education. Their backing of iGenetic Diagnostics suggests a strategic alignment with the growing healthcare sector in India, potentially seeking synergies with their existing medical facilities.
What's next for iGenetic Diagnostics?
The substantial enterprise-level funding indicates iGenetic Diagnostics is poised for significant expansion. This capital infusion is expected to fuel advancements in its diagnostic technologies, broaden its service offerings, and potentially extend its geographical reach within India and possibly beyond. The strategic nature of the recent investment suggests a focus on enhancing market penetration, forging key partnerships, and solidifying its competitive advantage in specialized diagnostic services. Investors are likely anticipating iGenetic Diagnostics to leverage this financing to further innovate and capture a larger share of the rapidly growing Indian healthcare market.
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