54gene was founded in 2019 by Dr. Abasi Ene-Obong to address the significant gap in the global genomics market; Nearly 90% of genetic material used in pharmaceutical research is Caucasian. Only 2% is African, despite the fact that Africans and people of African ancestry are more genetically diverse than all other world populations combined. As a result, pharmaceutical research and development is lacking the diverse data that may hold the key to medical discoveries and new healthcare solutions.
| Date | Amount | Type | Investors | Valuation |
|---|---|---|---|---|
| 04/14/20 | $15,000,000 | Series A |
Adjuvant Capital Aera VC Better Ventures Bill & Melinda Gates Foundation Fifty Years Ingressive Capital KdT Ventures Novartis Pioneer Fund Raba Capital V8 Capital Y Combinator | undisclosed |
