The DNA-based self-discovery and career life cycle management platform from India GENLEAP has announced the successful conclusion of its pre-Series A funding of 27 crores ($3.3 million). The fundraise includes several existing investors, including Mike Holland (former CEO of Embassy REIT), Sanjay Dutt (CEO & MD, Tata Realty and infrastructure), Neeraj Bansal(Co-Head and COO – India Global with a Big Four Consulting Firm), Karthikeyan Balasubramanian, Deepak Kaul and Manish Dhawan (Olam Food International), and new investors like Vikaash Khdloya (ex-Private equity professional)Sunil Bajaj (Partner with a leading multinational, multi-disciplinary consulting firm),Yoguen Oukabay, Mandeep Mehta (Group CFO with Policy Bazaar) in their personal capacities.
This round follows the earlier Rs 60 Crores ($7.4 million) seed round raised in 2021, in which, in addition to the names above, also included Arun Nanda, Chairman, Mahindra Life Space developers, Kevin Donlon, former Blackrock MD and more. The platform is also launching its Regulation A Plus IPO in United States.
GENLEAP is also extending its footprint both geographically and in terms of products launches,providing DNA-led solutions for personal career growth and development, health & wellness, relationship compatibility, disease Susceptibility and more.
The proceeds from this fundraise, and IPO would be used to further expand its marketing and distribution footprint globally, including entry into the US, middle east, and European markets. In addition, the proceeds from the IPO would also enable GENLEAP to build world-class labs in multiple geographies to address the sizeable genetic testing market, including personality and careers, relationships, nutrition, sports and fitness, mental well-being, disease susceptibility, lifestyle and much more. The labs will provide a global hub for the research and development of Genomics and continue and expand its research in growing areas like behavioral genetics and more.
GENLEAP commenced operations in 2021, offering DNA-led self-discovery and career lifecycle management to its aspirants, including students and working professionals. Over 100 educational institutions are already using GENLEAPs genetic testing and interpretation platform with 500,000 students, including Amity, GD Goenka and Gurukul schools. The company has secured contracts representing an annualized run rate of half a billion dollars over the next 10 years.
On the announcement of the closure of this funding round, the Founder & CEO of GENLEAP, Sachin Sandhir, said,“GENLEAP will soon be expanding its geographical footprint and growth in the US, Middle east and other markets and given its global ambitions to become a leading force in the Genomics testing and solutions market, a $90 billion industry. GENLEAP AI, the US entity of GENLEAP, would now be listed in the Regulation A plus market and will launch a 50 million dollar IPO in the US market shortly.
“We are grateful to our existing and new investors who share our vision as a leading player in the genetic testing and solutions market”, further added Sachin.
Nimish Gupta, Founder & Director of GENLEAP, said,“Given the huge amount of genetic and personality data and the biobank which we shall handle, GENLEAP is committed to investingheavily in data research, data protection, and data privacy and plans to set up data centres to ensure a fully compliant approach.”
Mandeep Mehta, Group CFO, Policy Bazaar, said, “GENLEAP provides the most powerful end-to-end career lifecycle management platform in today’s market. Its innovative approach helps one discover the hidden talents and innate personality traits to find how one’s environment and life experiences are helping in realizing this potential; and what’s missing.”