Marius Nacht, OurCrowd Back Igentify in $10.5 Million Round
Igentify develops a digital genetic testing analyzer for various genotyping technologies like microarray and next-generation sequencing (NGS), and offers machine-generated personalized genetic counseling
Genetic analysis startup Igentify Ltd. has raised a $10.5 million funding round led jointly by life sciences venture capital firm aMoon, owned by Marius Nacht, co-founder of Nasdaq-listed Israeli cybersecurity company Check Point Software Technologies Ltd., and equity crowdfunding company OurCrowd Management Ltd. through its digital health investment fund OurCrowd Qure, aMoon announced Monday. The new round brings the company’s total equity raised to date to $12 million.
Founded in 2016 and based in northern Israeli city Haifa, Igentify develops a digital genetic testing analyzer for various genotyping technologies like microarray and next-generation sequencing (NGS), and also offers machine-generated personalized genetic counseling. The company’s technology is currently being used at several medical facilities, including Israeli hospitals Sheba Medical Center and Kaplan Medical Center and New York-based nonprofit integrated healthcare network Northwell Health.
Igentify employs 40 people, most of them in the company’s research and development center and offices in Haifa, and the rest in Israeli city Herzliya and in New York.
Igentify founder Doron Bahar. Photo: Yafit Shakalo
Igentify intends to use the funding to continue product development, for further commercial expansion, and to hire an additional 10 developers for its Haifa office.