The genetic testing service, spun out from City University of Hong Kong, took its total funding to approximately $53m with a round co-led by Alibaba and Beyond Ventures.
Alibaba Entrepreneurs Fund, a subsidiary of e-commerce group Alibaba, co-led a $40m series B round for Prenetics, a China-based genetic testing services spinout from City University of Hong Kong, 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 from City University of Hong Kong in 2009. It provides a genetic testing service to policyholders of insurance provider partners including Prudential, AIA…
