The Spanish startup 24Genetics has proposed to democratize the use of genetics among the general public with a pioneer activity not only in Spain or Europe, but also in the world: the elaboration and interpretation of DNA test to offer response to half a dozen of interest related to health and well -being. It is enough to send to the company a saliva sample, in a specific collector, so that the company can reveal not only the origin of the ancestors but also provide information of extraordinary utility to know health aspects, nutrigenetics and pharmacogenetics, as well as for Discover the natural predisposition to certain sports, the presence of certain personality traits or dermogenetic peculiarities to specify the possible treatments and care of the skin.
The Spanish company, founded and directed by Nacho Esteban, It markets its tests – with prices between 149 and 199 euros – in more than a hundred countries, with a turnover exceeding one million euros. But the current challenge is to multiply that turnover by 4.5 times through the development of new versions of its products and services, now with the impulse of artificial intelligence. To materialize this challenge, the firm promotes these a financing round called to capture between 1.5 and 2 million euros open to all types of investors.
In 2021, 24genetics culminated a first round of financing, for the amount of 1.3 million, which placed the valuation of the company by 10 million euros. Now, after the injection now in the current second round, and Under the claim of the combination of genetics and artificial intelligence, society will raise its value to 14 million euros. Since its launch just four years ago, the company based in the Paseo de la Castellana in Madrid has tripled its turnover in the last year, with increases in the benefits of 25%.
Society, pioneer in the world, works with more than 700,000 genetic markers
The investment round of 24Gnetics has already attracted 124 investors, according to data from the closure of this magazine, with an investment of 318,894 euros, 63.8% of the objective of 500,000 euros. The financial operation is carried out by Celll Capital, Equity Crowdfunding online platform Specialized in biomedicine, biotechnology and life sciences and authorized by CNMV. Among other data, Capital Cell Spain has completed 27 financing rounds since 2015 with the capture of investments of 29 million euros and with a success percentage of 91%. In this case, the minimum participation is encrypted at 100 euros.
Among the products of 24 Genetics, the ancestors test, a solution capable of relating DNA samples with more than 1,500 geographical regions, 30 times more than other market tests, which generally barely reaches half a hundred regions. These tests are carried out in a European laboratory with Illumina technology, world leader in genetic sequencing, which is also responsible for the rest of the 24 genetic tests. According to Nacho Esteban, reading reliability is around 99.95%, once there is no tests that reaches 100%. Now, Esteban emphasizes that the tests are not valid for clinical or diagnosis use.
24Gnetics users can interact by mobile and web with the company’s AI
He Pharmacogenetic DNA test of 24 Genetics -with 700,000 genetic markers of the 3.2 million genetic links that mark the variability between individuals -, reports on the genetic predisposition of people against certain medications, once it is shown that not all drugs generate the same effects on all people due to the genetic predisposition of each individual.
He Sports testalso with 700,000 DNA markers, considered the largest in its categoryallows to know in depth the sports, muscular, metabolic, cardiovascular and risk of injury. The nutrigenetic test, for those who face diets to lower weight, “helps to eat intelligently”, since each person shows a genetic predisposition in terms of nutrients that they need to ingest and assimilate to lead a life as healthy as possible. The genetic health test, key in modern medicine, is the most intelligent tool for health care and disease prevention.
As explained from 24 genets, “It is enough to know the genetic predisposition to avoid many diseases“. The personality test offers relevant clues about the behavior of people, where not only the experiences experienced from birth and environmental factors affect, but also the genetic properties that affect these features. The skin care test, Possibly the starting point of any dermatological care plan, offers key information about the skin and its specific needs.
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