54gene, a Nigerian health tech startup improving African genomics research for better global health outcomes, has raised USD 25 Mn in a Series B round. Cathay AfricInvest Innovation Fund led the round, with participation from Adjuvant Capital, KdT Ventures, Plexo Capital, Endeavor Capital, Ingressive Capital, and others.
54gene is a research, services, and development firm that uses human genetic data from a variety of African populations to improve the creation, availability, and efficacy of medical products that will benefit Africans and the rest of the world.
The funding will go into improving the startup’s capabilities in sequencing, target identification, and validation, and precision medicine clinical trials, allowing for medication discovery in Africa for both Africans and the global population. It will also allow the company to begin expanding across Africa.