Prenetics is raising money to use on digital health infrastructure.
Venture capital firm Beyond Ventures and Alibaba Hong Kong Entrepreneurs Fund raised $312.31m (US$40m) to inject in genetics-focused health company Prenetics Limited (Prenetics).
According to a press release, Yuantai Investment Partners, mFund and eGarden Ventures joined the fund's strategic investors.
Prenetics is a genetics-focused digital health company. It said that it is expected to reach $78.08b (US$10b) sales of genetic tests within a decade.
Prenetics has now raised more than $390.39m (US$50m) to build infrastructure that will focus on exploiting big data, machine learning and artificial intelligence as part of an overall health eco-system.
One of its products is a digital health-coaching app which provides individuals with a DNA profile in order to facilitate optimal diet, fitness and response to drugs.
The app also helps users understand their genetic risk of health conditions such as Type 2 Diabetes, High Blood Pressure and High Cholesterol.
Prenetics has launched its products in Hong Kong, Singapore, Malaysia, and Thailand.
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