About Igenetic
Igenetic is a Healthcare company based in Mumbai (India) founded in 2013 by Siddharth Patodia. It operates as a provider molecular diagnostic solutions and services. Igenetic has raised $24.04 million across 4 funding rounds from investors including Manipal Group, British International Investment and Thomas C Barry. The company has 241 employees. Igenetic was last valued at $21.44 million in January 2020. Its Indian entity Igenetic Diagnostics Private Limited reported revenue of ₹33.88 Cr. The company has since been acquired. Its focus areas include Clinical Laboratory Chains and Diversified. Its competitors include Thyrocare, Vijaya Diagnostic Centre, Suraksha Diagnostics, Krsnaa Diagnostics and Medall and 4 more; 6 of its 9 listed competitors have raised funding.
Company details
Igenetic was founded in 2013 in Mumbai, India, and operates in the molecular diagnostics sector. Tests for genetic analysis in oncology, neurology, and infectious diseases are offered by the company. In-house development of tests and products is also supported through its capabilities. Services focus on healthcare applications across these medical fields.
- Headquarters Mumbai, India
- Employees 241
- Founders Siddharth Patodia
- Stage Acquired
- SectorsHealthcare
- Phone•••• ••••
- Website igenetic.com
- Social LinkedIn Facebook
- Legal Name Igenetic Diagnostics Private Limited
- Date of Incorporation 12 Dec, 2013
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹33.88 Cr
FY 2023 · -25% YoY
- Net Loss-₹13.58 Cr
FY 2023 · -40% margin
- EBITDA-₹6.95 Cr
FY 2023 · -21% margin
- Total Equity Funding$24.04M (USD)
in 4 rounds
- Latest Funding Round$1.22M (USD), Series A
Jan 2020
- InvestorsManipal Group
& 35 more
- Employee Count241
Associated legal entities of Igenetic
Igenetic is associated with 2 registered companies on The Company Check; the primary company is Igenetic Diagnostics Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Igenetic Diagnostics Private Limited CIN U33111DL2013PTC458568 | Active | 12 Dec 2013 | New Delhi, Delhi | ₹33.9 Cr | 241 | 4 | View details |
| Igenetic Diagnostics Private Limited CIN U33111KA2013PTC165736 | – | 12 Dec 2013 | Bangalore, Karnataka, India | – | – | – | View details |
Funding Insights of Igenetic
Igenetic has successfully raised a total of $24.04M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $1.22 million completed in January 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $24.04M
- Total Rounds 4
- Last Round Series A — $1.22M
- First Round $1.78M
(Mar 2015)
- Investors Count 36
All 4 funding rounds of Igenetic with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2020 | $1.22M | Series A | $21.44M | British International Investment | |
| Feb 2017 | $20M | Series A | – | Manipal Group, British International Investment | – |
| Jan 2016 | $1.05M | Seed | $15.76M | Nita Mirchandani | |
| Mar 2015 | $1.78M | Angel Round | $••••• | Swaraj Paneri |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2020 | $21.44M | •••••••• |
| Jan 2016 | $15.76M | •••••••• |
| Mar 2015 | $••••• | •••••••• |
Full valuation and stage history of Igenetic
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $21.44M (Jan 2020). 36 investors in total: 8 institutional and 28 angel.
Investors in Igenetic
Igenetic has secured backing from 36 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include Manipal Group, British International Investment and Thomas C Barry.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Government agency focused on small and medium-sized businesses | 1948 | bii.co.uk | London, United Kingdom | |
High-growth businesses are targeted for investment by SFG Ventures. | – | sfgventures.com | Brighton, United Kingdom | |
Private equity firm focused on multiple sectors | – | beelineimpex.tcc.mode | Mumbai, India | |
- | – | satyadharmainvestment.tcc.mode | - | |
Education, healthcare, insurance, and research services are provided globally. | 1993 | manipalgroup.com | Bengaluru, India | |
Investments and industrial operations are conducted in Mumbai, India. | – | castleinvestmentandindustries.tcc.mode | Mumbai, India | |
- | – | satyadharmainvestmentsandtrading.tcc.mode | - | |
- | – | groverfamilytrust.tcc.mode | - | |
TC Thomas C Barry | - | – | unknown_6b7a1bbf198f45f0a | - |
MC Mahesh Chhabria | Angel investor, ex-3i Partners, focused on early-stage Indian startups | – | unknown_d521807fb710476e9 | - |
Investor details for Igenetic
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Board of directors of Igenetic Diagnostics Private Limited (Igenetic)
Igenetic Diagnostics Private Limited is the primary company behind Igenetic. The board of Igenetic Diagnostics Private Limited currently have 4 directors; the longest-serving is Arunima Patel, appointed in 2013. 8 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Arunima Patel DIN 02864725 | Director | 12 Dec 2013 | 12 yrs 10 mo | Igenetic Diagnostics Private Limited |
| Ramoji Tejomurtula DIN 06698794 | Director | 23 Mar 2017 | 9 yrs 6 mo | Igenetic Diagnostics Private Limited |
| Nagendra Swamy Srirangapatna Chandrashekharaiah DIN 06550942 | Director | 23 Mar 2017 | 9 yrs 6 mo | Igenetic Diagnostics Private Limited |
| Harinarayan Sharma DIN 03147391 | Director | 23 Mar 2017 | 9 yrs 6 mo | Igenetic Diagnostics Private Limited |
People of Igenetic
1 people are tracked at Igenetic (1 in leadership); the tracked headcount is 241.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership |
Complete people profiles for Igenetic
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Financials of Igenetic
Figures of Igenetic Diagnostics Private Limited, the primary company behind Igenetic, for FY 2023. Revenue was ₹33.88 Cr (-25% year on year). Net loss was -₹13.58 Cr (-40% margin). EBITDA was -₹6.95 Cr (-21% margin). Revenue has grown at a compounded annual rate of +11% over three years and +28% over five years.
- ₹33.88 CrRevenue · FY 2023 · -25% YoY
- -₹13.58 CrNet loss · -40% margin
- -₹6.95 CrEBITDA · -21% margin
- ₹1.71 CrPaid-up capital
- 241Employees (provident fund records)
- +11%Revenue CAGR, 3 years
- +28%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Igenetic Diagnostics Private Limited are on its company page.
Detailed financial statements for Igenetic
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Timeline of Igenetic
4 dated milestones of Igenetic across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Igenetic is founded.
- Funding First funding round of $1.8M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $1.2M.
Competitors of Igenetic
Igenetic has 9 listed competitors in our database, 6 of them funded. They include Thyrocare, Vijaya Diagnostic Centre, Suraksha Diagnostics, Krsnaa Diagnostics and Medall, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| thyrocare.com | 1996 | Mumbai, India | $63.59M | 1,889 | Diagnostic testing centers for pathology and health screenings are operated. | |
| vijayadiagnostic.com | 1981 | Hyderabad, India | – | – | Diagnostic services are offered via a chain of centers. | |
| surakshanet.com | 2005 | Kolkata, India | $49M | 1,180 | Pathology, molecular diagnostics, and imaging services are provided. | |
| krsnaadiagnostics.com | 2011 | Pune, India | $23.61M | 3,703 | Chain of radiology & pathology laboratory centers | |
| medall.in | 2008 | Chennai, India | $55.1M | – | Medical diagnostic services are provided through a chain of centres. | |
| aarthiscan.com | 2000 | Chennai, India | – | 1,931 | Chain of diagnostic centers | |
| gd-lab.com | 2007 | Mumbai, India | $11.5M | 291 | A chain of clinical laboratories is operated for diagnostic services. | |
| primexhealthcare.in | 2010 | Chennai, India | $3.46M | 27 | A chain of pathology and imaging labs is operated. | |
| phdiagnosticcentre.com | 2001 | Pune, India | – | 251 | Provider of medical diagnostic services including blood tests, urine tests, and specialized health check-ups |
Detailed competitors of Igenetic
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Top companies in Diagnostics Laboratories
10 companies that operate in the same segment as Igenetic (Diagnostics Laboratories), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Diagnostic testing centers for pathology and health screenings are operated. | 1996 | Mumbai, Maharashtra, India | USD 63.59 M | USD 88.36 M | 1,950 | |
Chain of pathology and radiology labs | 1949 | Gurugram, Haryana, India | USD 13.9 M | USD 294.49 M | 5,310 | |
Home-based diagnostic tests are booked via an online platform. | 2018 | Noida, Uttar Pradesh, India | USD 116.42 M | USD 41.86 M | 2,308 | |
Pathology, radiology, wellness and clinical research services | 1995 | Mumbai, Maharashtra, India | – | – | – | |
Diagnostic centers are operated as a nationwide chain. | 1981 | Mumbai, Maharashtra, India | USD 228.2 M | USD 175.43 M | 5,180 | |
Radiology centers are operated as a nationwide chain. | 1984 | Los Angeles, California, United States | – | USD 2.04 B | 8,550 | |
DNA sequencing, bioinformatics, and multiomics services are provided. | 2013 | Bengaluru, Karnataka, India | USD 264.5 M | USD 29.55 M | 883 | |
Chain of radiology centers | 2015 | Jacksonville, United States | – | USD 749.63 M | 5,486 | |
At-home diagnostic tests are booked and collected by phlebotomists. | 2020 | Bengaluru, Karnataka, India | USD 77.12 M | USD 3.34 M | 719 | |
Biomarker analysis and diagnostic tests are offered by the laboratory. | 2012 | Gurugram, Haryana, India | USD 17.26 M | USD 11.27 M | 496 |
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Frequently Asked Questions about Igenetic
Igenetic was founded in 2013 and raised its 1st funding round 2 years after it was founded.
Igenetic is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Igenetic is a funded company, having raised a total of $24.04M across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $1.78M, raised on Mar 2015.
Igenetic has 241 employees.
The primary company behind Igenetic, Igenetic Diagnostics Private Limited, reported revenue of ₹33.88 Cr for FY 2023, down 25% year on year.
Igenetic was founded in 2013 in Mumbai, India, and operates in the molecular diagnostics sector. Tests for genetic analysis in oncology, neurology, and infectious diseases are offered by the company. In-house development of tests and products is also supported through its capabilities. Services focus on healthcare applications across these medical fields.
Igenetic's top competitors include Thyrocare, Krsnaa Diagnostics and Suraksha Diagnostics.
Igenetic has 36 investors. Key investors include Manipal Group, British International Investment, Thomas C Barry, Mahesh Chhabria, and Pratik Jain.
The valuation of Igenetic is $21.44M as of Jan 2020.
Igenetic operates through Igenetic Diagnostics Private Limited.
The legal entities of Igenetic currently have 4 directors, including Arunima Patel, Ramoji Tejomurtula, Nagendra Swamy Srirangapatna Chandrashekharaiah and others.