MedGenome raises $47.5 million in Series E round to expand genomic diagnostics access

MedGenome, a genomics diagnostics and research services company, has raised $47.5 million in its Series E funding round. The round was co-led by private equity firm Maj Invest, a new investor, along with existing investor Novo Holdings. Sofina, an existing shareholder, also participated in the round.

This capital raise will be used to expand MedGenome’s genomic and integrated diagnostics offerings across India and other emerging markets. The company reiterated its focus on addressing India’s disease burden through early detection and targeted disease management, using genetic and integrated diagnostics tools.

Founded in 2013, MedGenome provides genetic diagnostics and research services across major disease areas. Its laboratory in Bangalore is the largest CAP-accredited genetic testing facility in India, offering end-to-end multi-omics capabilities. The facility houses high-throughput sequencing machines and a proprietary analytics platform, enabling the development and deployment of genetic tests.

MedGenome offers more than 1,300 genetic tests and has established a network comprising over 18,000 clinicians and 6,000 hospitals, serving nearly 400 regions across the country. Its in-house tests are backed by research studies and published in scientific journals.

Commenting on the development, Dr. Vedam Ramprasad, CEO of MedGenome, said, “India’s healthcare ecosystem is increasingly recognising the transformative potential of genomics, driving innovation and enhancing the country’s healthcare capabilities. This fundraise also reflects the growing adoption of genomics in personalised and preventive healthcare in India as well as other emerging economies. At MedGenome, we combine cutting-edge science with real-world application, bringing advanced omics solutions that bridge the unmet need in disease diagnosis and management. Early genomics-led intervention not only helps the patient but also helps families manage the economic and emotional burden of a disease.”

Dr Amit Kakar, Managing Partner and Head of Asia at Novo Holdings, and Chairman of the Board of MedGenome, said, “Our reinvestment in MedGenome reflects our belief in the company’s potential to transform the landscape of genetic and integrated diagnostics in India and beyond. MedGenome stands out as a science-led platform with strong fundamentals, and this investment aligns with our conviction in the growing importance of genomics and personalised healthcare across emerging markets. We are pleased to continue our support for the company as it expands access to genomic healthcare solutions and advances its mission to make a meaningful impact on health outcomes globally.”

Jannick Dam Mortensen, Partner, Maj Invest Minorities, added, “With its robust genomics portfolio, commitment to science and the transformative impact it has had on healthcare, MedGenome has consistently demonstrated its ability to drive innovation and precision diagnostics. We’re proud to support their next phase of growth, expanding their solutions to more markets in India and worldwide.”