FitnessGenes, a London-based health startup that carries out gene analysis, has raised $5 million in a Series A round.
The funding round was led by investment firm Sino-German High Tech Fund (SGHF), a fund jointly run by China’s Donghai Securities and Germany’s High-Tech Gründerfonds. The firm invests in health and life sciences.
The startup plans to invest the funds in its technology that analyses genetic data to determine the best fitness and nutrition plans. It will expand its operations in Europe as well as North America, where it has a Los Angeles office. According to the company, it is in talks to close a further round of $5 million in funding.
FitnessGenes is a member of a consortium led by DNA sequencing firm Illumina, which also includes 23andme, the US human genome research company founded by Anne Wojcicki.
“Our mission is to bring transformation to millions of customers around the world, who are overwhelmed and confused by the amount of choice and generic recommendations in the market,” said Dr Dan Reardon, CEO of FitnessGenes, which previously raised a $1 million seed round last December.