The genetic testing service took its total funding to about $53m with a round co-led by Alibaba Entrepreneurs Fund and VC fund Beyond Ventures.
Alibaba Entrepreneurs Fund, a subsidiary of e-commerce group Alibaba, co-led a $40m series B round for China-based genetic testing services provider Prenetics yesterday.
The round was co-led by venture capital fund Beyond Ventures and included Yuantai Investment Partners, mFund and eGarden Ventures.
Originally known as Multigene, Prenetics was spun out of City University of Hong Kong in 2009. It provides a genetic testing service to policyholders of insurance provider partners including Prudential, AIA and HSBC Insurance.
Prenetics also offers a…
