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- MedGenome
MedGenome Valuation, Funding & Investors
MedGenome is valued at $950M as of April 2020.
Last MedGenome valuation
$950M
Series D · Apr 2020
Last MedGenome funding round
$48M
Series E · Jul 2025
Cumulative funding MedGenome raised
$233M
across 8 funding rounds
Key investors in MedGenome
Sofina
Peak XV Partners
Novo Holdings
LeapFrog Investments
Sequoia Capital
International Finance Corporation
About MedGenome
MedGenome is a Bangalore-based genomics company offering next-generation sequencing diagnostics and research services for cancer, metabolic, cardiac, and rare diseases. The firm operates CLIA-certified labs in the United States and India, processing samples for over 500 hospitals and research institutions. Its platform integrates bioinformatics with population-scale data from South Asian genomes, supporting drug discovery partnerships with AstraZeneca and Bristol Myers Squibb in precision medicine initiatives.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$950M (Apr 2020)
MedGenome Valuation
MedGenome is currently valued at $950M, based on its Series D in April 2020.
The $55M round was led by LeapFrog Investments, with participation from Sequoia Capital and Sofina.
MedGenome's valuation has grown 9.5x from $100M at its Series B in July 2015 to $950M in April 2020, across 2 priced rounds.
MedGenome valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2020 | Series D | $950M |
| Jul 2015 | Series B | $100M |
MedGenome Funding History
MedGenome has raised a total of $233M across 8 funding rounds.
MedGenome's first fundraising round was a $4M Series A in June 2014. The most recent completed round was a $48M Series E in July 2025.
MedGenome funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2025 | Series E | Maj Invest Equity (lead); Novo Holdings (lead); Sofina | $48M | - | MedGenome Labs Private Ltd., a Bengaluru-based genomic diagnostics and research services company, raised $47.5 million (INR 4.09 billion) in its Series E funding round on July 21, 2025, co-led by new investor Maj Invest Equity and returning investor Novo Holdings, with participation from existing shareholder Sofina. The funding aims to broaden access to its genomics and integrated diagnostics solutions across India and other emerging markets, focusing on early detection and targeted disease management through affordable genetic tools to reduce India's disease burden. MedGenome offers over 1,300 high-end genetic tests across oncology, inherited diseases, reproductive diseases, infectious diseases, and preventive wellness. Novo Holdings, a world-leading life science investor, highlighted MedGenome's science-led platform with strong fundamentals and its potential to transform genetic and integrated diagnostics in emerging markets, aligning with the growing importance of genomics and personalized healthcare. Maj Invest, a Danish financial group with approximately USD 12 billion in assets under management, joined as a new investor in this growth equity round. The investment reflects increasing adoption of genomics in personalized and preventive healthcare in India and other emerging economies, as noted by MedGenome CEO Vedam Ramprasad. Legal advisors included Covington for Maj Invest, Shardul Amarchand Mangaldas for Novo Holdings, and Argus Partners for MedGenome, with the transaction closing around mid-2025. |
| Aug 2022 | Series D | Novo Holdings (lead); LeapFrog Investments; Sofina | $50M | - | MedGenome is a leading genetic diagnostics, research, and data company in South Asia, providing advanced genetic testing and bioinformatics solutions to patients, pharmaceutical companies, and research institutions worldwide. It focuses on genomic solutions for South Asian populations, offering insights into complex noncommunicable diseases like oncology, diabetes, ophthalmology, cardiology, and rare diseases. As a co-founding member of the GenomeAsia 100K Project, MedGenome has built the largest database of South Asian genetic variants. On August 30, 2022, MedGenome announced a $50 million investment led by Novo Holdings, with participation from existing investors LeapFrog Investments (which previously led a $55 million round in April 2020) and Sofina. The investment provides Novo Holdings a significant minority stake. Funds will expand MedGenome's reach beyond India and South Asia into Africa and the Middle East, broaden product offerings in reproductive and oncology services, and enhance bioinformatics and SaaS capabilities to democratize access to genetic testing in emerging markets. By the time of the investment, MedGenome had administered over 300,000 complex genetic tests, served more than 200,000 patients, and obtained samples from nearly 4,000 hospitals and 10,000 physicians globally. The expansion aims to contribute to the most comprehensive global genomic dataset. Dr. Amit Kakar and Navjeewan Khosla from Novo Holdings joined the board. |
| Jul 2021 | Undisclosed stage | International Finance Corporation (lead); Z3Partners | $17M | - | - |
| Apr 2020 | Series D | LeapFrog Investments (lead); Sequoia Capital; Sofina | $55M | $950M | MedGenome is a leading genetic diagnostics, research, and data company focused on South Asia and emerging markets, founded in 2013 by Mahesh Pratapneni and Sam Santhosh. The company offers genetic testing and drug discovery solutions across oncology, diabetes, ophthalmology, cardiology, and rare diseases, while serving as a co-founding member of the GenomeAsia 100K Project and maintaining the largest database of South Asian genetic variants. In April 2020, MedGenome announced a $55 million Series C-III funding round led by LeapFrog Investments, with existing investors Sofina and Sequoia Capital participating, at a post-money valuation of $950 million. At the time of the round, the company had administered over 200,000 genomic tests and obtained samples from approximately 550 hospitals and 6,000 clinicians across India. The investment was positioned to expand clinical genomic testing access into Tier-II and Tier-III cities across India, accelerate drug discovery programs, and capitalize on the Indian genetic diagnostics market expected to expand at 42% CAGR over five years, with the global market projected to grow from $13 billion in 2019 to $28.5 billion by 2026. |
| Mar 2018 | Series C | HDFC ERGO General Insurance Company Limited (lead); HDFC Life Insurance; HDFC Asset Management | $10M | - | MedGenome, a Bengaluru-based genomics research and diagnostics company, completed its Series C funding round totaling $40 million on May 3, 2018, with an additional $10 million from HDFC Ltd., HDFC Life, and HDFC Asset Management. The first tranche of $30 million was raised in August 2017, led by Sequoia Capital India and Sofina, with participation from Zodius Capital, Kris Gopalakrishnan of Infosys, and Lakshmi Narayanan, former CEO of Cognizant. This brought MedGenome's total funding to approximately $64 million, following a $20 million Series B in 2015 and $4 million Series A. MedGenome, spun off from SciGenome in 2013, operates a next-generation diagnostics lab in Bangalore offering sequencing tests for pregnancy, cancer, rare mutations, and other conditions. It also provides genetic sequencing services for life sciences, including immuno-oncology, through its Silicon Valley office. The company had completed over 100,000 genomic tests and supported clinicians in diagnosing more than 40% of unresolved cases. The funding supports expansion into Tier II and Tier III cities, democratizing genetic tests like noninvasive prenatal screening and newborn testing, and establishing genetic centers in hospitals across India to aid clinicians and enable informed patient decisions. |
| Aug 2017 | Series C | Peak XV Partners (lead); Sofina (lead); Zodius Capital | $30M | - | MedGenome Labs Pvt. Ltd., a Bengaluru-based genomics-based diagnostics and research firm operating as a subsidiary of Kerala-based SciGenom Labs Pvt. Ltd., raised $30 million (Rs 192 crore) in its Series C funding round on August 28, 2017. The round was led by existing investor Sequoia Capital India (now Peak XV Partners) and new investor Sofina SA, with participation from existing investor Zodius Capital, as well as individual contributions from Infosys co-founder Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan. This followed prior rounds: $4 million Series A in 2013 from Emerge Ventures and Papillon Capital, and $20 million Series B in 2015 from Sequoia Capital. The funding aims to accelerate biomarker discovery programs, develop affordable diagnostics tests, broaden awareness of genetic testing, and advance MedGenome's OncoPept suite of cancer immunotherapy biomarker solutions. The company leverages the world's most diverse genetic variant database from the Indian population to support early drug discovery, target validation, and precision medicine for global pharmaceutical and biotech researchers, with offices and labs in India, California, and Singapore. MedGenome positions itself as a leader in genetic diagnostics for inherited and infectious diseases like tuberculosis in South Asia and a provider of genomics research services worldwide. Investors highlighted MedGenome's role in delivering affordable, high-quality genetic testing to emerging markets, aiding physicians in better decisions, and impacting global drug discovery through underrepresented genetic data. Sequoia Capital's Abhay Pandey emphasized strengthening propositions in precision medicine, while Sofina's Xiao-Tian Loi noted broadening genomics diagnostics in Indian healthcare and tapping Indian genetic data for research. The genomics and high-end diagnostics segment in India remains nascent but is drawing investments, as seen in contemporary deals like iGenetic Diagnostics' Rs 133 crore raise and Core Diagnostics' $12 million funding. |
| Jul 2015 | Series B | Peak XV Partners (lead) | $20M | $100M | MedGenome is a Bengaluru-based genomics-based diagnostics and research firm, operating as a subsidiary of Kerala-based SciGenom Labs, providing genomic diagnostics tests for cancer, inherited diseases, and non-invasive prenatal testing like Natera's Panorama NIPT, alongside research services for pharmaceutical and biotech companies leveraging Indian population genetics. Its platforms include OncoMD for cancer analytics, OncoPept for cancer immunotherapies, and an integrated genomics platform to accelerate drug discovery. The company runs the largest privately owned, fully independent Next Generation Sequencing lab in India, tapping into the country's diverse ethnic groups for unique genomic analysis in areas like cancer, diabetes, neurological disorders, and more. In July 2015, MedGenome raised a $20 million Series B round from Sequoia Capital (now rebranded as Peak XV Partners), with Abhay Pandey joining the board. The funds were allocated to build cutting-edge bioinformatics infrastructure, enhance sequencing facilities in India and the US, and expand research and scientific teams. This followed a $4 million Series A in 2013-2014 led by Emerge Ventures and Papillon Capital, backed by Mu Sigma co-founders. Earlier in February 2015, ahead of this round, MedGenome sought $15 million in a second round at a valuation exceeding $100 million, a tenfold increase from the prior round. The investment positioned MedGenome as a leader in precision medicine and genomics research from emerging markets, emphasizing its unprecedented Indian genetic dataset for global drug discovery. Subsequent rounds included a $30 million Series C in 2017 led by Sequoia India and Sofina, with participation from Zodius Capital and individuals like Infosys co-founder Kris Gopalakrishnan, to advance biomarker discovery and OncoPept solutions. |
| Jun 2014 | Series A | Papillon Capital (lead); Vidinovo; Emerge Life Sciences | $4M | - | MedGenome, a Bangalore-based healthtech startup incubated from SciGenom in 2012, raised $4 million in a Series A funding round on June 4, 2014, led by Papillon Capital's Kartik Kumaramangalam and Emerge Ventures' Mahesh Pratapneni, with other investors including Dmitri Mehlhorn, Ambiga Dhiraj, Tim McLaughlin, and Dan Peterson. The company specializes in genomic diagnostics for oncology in India and provides oncological bioinformatics services to the West, featuring its proprietary OncoMD database that catalogs over 1.2 million cancer-related mutations to assist physicians in identifying mutation hotspots, cancer types, therapy sensitivities, and clinical trials. The funding supports expansion of bioinformatics infrastructure, facilities in India and the West, sales footprint, and capital expenditures. |
Who has invested in MedGenome?
15 investors have backed MedGenome across its funding rounds, including Sofina, Peak XV Partners, Novo Holdings, LeapFrog Investments, Sequoia Capital and International Finance Corporation.
Lead investors include Maj Invest Equity, Novo Holdings, International Finance Corporation, LeapFrog Investments, HDFC ERGO General Insurance Company Limited and 3 other investors.
MedGenome Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Aug 2017 | ||
| 2 | Lead | Aug 2022 | ||
| 2 | Lead | Apr 2020 | ||
| 2 | Lead | Jul 2015 | ||
| 1 | Lead | Jul 2025 | ||
| 1 | Participant | Jun 2014 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Aug 2017 | ||
| 1 | Participant | Jun 2014 | ||
| 1 | Participant | Mar 2018 | ||
| 1 | Lead | Mar 2018 | ||
| 1 | Participant | Apr 2020 | ||
| 1 | Participant | Mar 2018 | ||
This data is available for Pro users. Sign up to see all 15 MedGenome investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by MedGenome
MedGenome has acquired 3 companies to date.
Last acquisition by MedGenome was on May 17th 2026. MedGenome acquired Siddhi Diagnostics & Research Center for undisclosed valuation.
Latest Acquisitions by MedGenome
| Description | Siddhi Diagnostics & Research Center is a provider of diagnostic imaging and laboratory services that uses advanced technology for fast reporting and specialist expertise. | Medcare Diagnostics delivers low-radiation imaging services led by internationally trained doctors in fields like oncology and neurology, with detailed reports. | Prognosis Laboratories is an operator of clinical diagnostic labs offering microbiology, pathology, and radiology services. Based in India, it processes samples for infectious diseases, histopathology, and imaging diagnostics. Prognosis maintains CAP-accredited facilities serving hospitals in Mumbai and surrounding regions. |
| HQ Country | |||
| HQ City | Palghar | Mumbai | New Delhi |
| Deal Date | 17 May 2026 | 1 Mar 2026 | 26 May 2023 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all MedGenome acquisitions and their M&A valuation multiples. Start Free Trial | |||
MedGenome Competitors
MedGenome competitors include listed companies like CareDx, SOPHiA Genetics, GeneDx and Castle Biosciences, and private ones like uBiome and Everly Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $380M | ($10M) | $2.8B | 5.3x | ||
| Private | - | - | $298M | - | ||
| Publicly listed | $77M | ($65M) | $726M | 7.5x | ||
| Publicly listed | $428M | $7M | $3.1B | 6.8x | ||
| Publicly listed | $344M | ($429K) | $1.1B | 2.5x | ||
| Private | - | - | $1.3B | - |
MedGenome Public Comps
MedGenome is still privately-owned, but its public comps include Novogene, Eckert & Ziegler, Castle Biosciences, SOPHiA Genetics, Genfit, OPKO Health, Omada Health, Scribe Therapeutics, Fulgent Genetics and Certara.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $329M | $50M | 1.9x | 1.9x | 12.5x | 13.5x | |||
| $359M | $105M | 2.2x | 2.2x | 7.5x | 7.4x | |||
| $344M | ($429K) | 2.6x | 2.5x | (2082.6x) | 44.9x | |||
| $77M | ($65M) | 8.8x | 7.5x | (10.4x) | (18.8x) | |||
| $75M | ($98M) | 9.9x | 7.9x | (7.7x) | 52.1x | |||
| $607M | ($56M) | 2.2x | 2.3x | (23.3x) | (11.2x) | |||
| $260M | ($10M) | 3.8x | 3.1x | (98.6x) | 48.5x | |||
| $51M | ($21M) | 14.2x | - | (34.0x) | - | |||
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Common questions about MedGenome
| When was MedGenome founded? | MedGenome was founded in 2013. |
| Where is MedGenome headquartered? | MedGenome is headquartered in Bangalore, India. |
| Is MedGenome publicly listed? | No, MedGenome is a private, VC-backed company. |
| What is MedGenome's valuation? | MedGenome was last valued at $950M in its Series D in April 2020. |
| How much funding has MedGenome raised? | MedGenome has raised $233M across 8 funding rounds. |
| What was MedGenome's last funding round? | MedGenome's last funding round was a $48M Series E in July 2025, led by Maj Invest Equity and Novo Holdings. |
| Who are MedGenome's investors? | MedGenome's investors include Sofina, Novo Holdings, LeapFrog Investments, Peak XV Partners, Maj Invest Equity, Vidinovo, Z3Partners, Zodius Capital, Emerge Life Sciences, HDFC Life Insurance and 5 others. |
| Which companies are comparable to MedGenome? | Companies comparable to MedGenome include CareDx, uBiome, SOPHiA Genetics, GeneDx, Castle Biosciences and Everly Health. |
| How many companies has MedGenome acquired? | MedGenome has acquired 3 companies, including Siddhi Diagnostics & Research Center, Medcare Diagnostics and Prognosis Laboratories. |
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