GENLEAP Raises Rs 27 Crore In A Pre-Series A Funding Round

Updated on: 27 January 2023 2:35 pm

The development came after Alphabet Inc, the parent of Google, announced mass layoffs of 12,000 employees or six per cent of its workforce, to combat economic hardships

Google CEO Sundar Pichai Announces Pay Cut For Senior Executives Photo: The development came after Alphabet Inc, the parent of Google, announced mass layoffs of 12,000 employees or six per cent of its workforce, to combat economic hardships

Gurugram-based DNA-driven career life cycle platform GENLEAP has raised Rs 27 crore ($3.3 million) in a Pre-Series A funding round led by Mike Holland, Sanjay Dutt, Neeraj Bansal, Karthikeyan Balasubramaniam, Deepak Kaul and Manish Dhawan. Vikaash Khodloya, Sunil Bajaj, Yoguen Oukabay and Mandeep Mehta also joined the round.

Before this, the company bagged a Rs 60 crore investment in a seed funding round led by Arun Nanda, Kevin Donlon, and others.

The company is planning to utilise the fund in its business expansion. It wants to bolster its marketing and distribution in the United States (US), the Middle East and European markets. Additionally, it aims to build laboratories in multiple other countries.

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Talking about the latest fundraising, Sachin Sandhir, the founder and CEO of GEANLEAP, 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,” he added.

Given the huge amount of genetic and personality data and the biobank which we shall handle, GENLEAP is committed to investing heavily in data research, data protection, and data privacy and plans to set up data centres to ensure a fully compliant approach,” Nimish Gupta, co-founder and director of GEANLEAP, 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,” Mandeep Mehta, the CFO of PolicyBazar Group said while addressing the investment.