Japan’s Genesis Healthcare secures $5.1M from Founders Fund, Mitsui & Co.

From Genesis Healthcare’s introduction video.

Tokyo-based Genesis Healthcare, the Japanese startup that develops and provides genetic testing kits, announced today that it has fundraised 620 million yen ($5.1 million) from US-based Founders Fund and Japanese trading giant Mitsui & Co. (TSE:8031)  With the investment, the two investing companies took a 6% stake in the healthcare startup.

Since its launch in 2004 under the previous name of Weight Management, Genesis Healthcare has been developing and offering a variety of genetic testing and analysis services including DNA Banking as well as genetic testing kits for giving users advices for ancestry, lifestyle habits, alcohol metabolism promotion, cancer risk, dietary fat intake, or skin aging. The company has acquired genetic data from about 400,000 people in Japan.

In partnership with Mitsui upon the latest investment, Genesis Healthcare wants to expand their applications beyond to food or restaurant businesses and deliver optimized healthcare services to consumers. With the support of Paypal founder Peter Thiel who leads Founders Fund, the startup wants to better reach the global market while developing innovative technologies.

Edited by Kurt Hanson