Russian Billionaire Yuri Milner Leads $50 Million Round In 23andMe
Yuri Milner is a Russian billionaire that has led a $50 million round in 23andMe. Milner is known for investing in big tech companies like Facebook and Zynga. 23andMe is a startup that was co-founded by the wife of Google co-founder Sergey Brin, Anne Wojcicki. 23andMe helps people determine their genetic makeup. 23andMe is named after the 23 pair of chromosomes that make up a person’s genome.
The company has dropped the price of their saliva-based test to $99 from $299. At that price, people are able to learn the specifics of their ancestry and genetic traits like the possible conditions and diseases that they likely might have a genetic propensity for.
Existing investors that participated in this round include Anne herself and Sergey Brin along with New Enterprise Associates, Google Ventures, and MPM Capital. 23andMe’s last funding round was $31 million around 2 years ago. 23andMe started in 2006 and raised around $68 million total.
[Source: BI]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry