Diagnostic firm MedGenome completes series C funding round of Rs 2.6 bn

The latest funding will accelerate the company's expansion in the clinical genomic testing market, especially in Tier-II and Tier-III cities

MedGenome Labs, a genetic diagnostics company, announced the completion of its Series C funding round of $40 million (Rs 2.6 billion) with participation from HDFC Ltd, HDFC Life and HDFC Asset Management.

In August last year, the Bengaluru-based company had secured $30 million as a part of the same funding round (Series C round) led by Sequoia India and Sofina sa, which also saw the participation from Zodius Capital, Infosys co-founder Kris Gopalakrishnan, and former Cognizant chief executive officer Lakshmi Narayanan.

The latest funding will accelerate the company’s expansion in the clinical genomic testing market, especially in Tier-II and Tier-III