Geneyx raises $10 million seed round for genetic data analysis platform
The Israeli startup's funding round was led by Capri Ventures and Accenture Ventures, with Geneyx to also join Accenture’s Project Spotlight Accelerator Program
Geneyx Genomex, an Israel-based developer of genetic data analysis and interpretation platform, has announced that it has closed a $10 million seed round led by Capri Ventures and Accenture Ventures. Geneyx leverages AI to improve risk prediction, diagnostic yield, prognostic prediction, and treatment insights supporting clinical decision-making and biopharmaceutical research, helping to accelerate the development of targeted and personalized therapeutics.
“The investment from Capri Ventures and Accenture Ventures, will enable our next phase of global growth and expansion in support of patients who desperately need diagnostic answers and treatments for their conditions,” said David Yizhar, CEO at Geneyx. “Our solutions have already been used in more than 100,000 cases across 18 countries and cited in more than 50 peer-reviewed publications. In the next two years, we aim to enable our users to achieve 90% diagnostic yield, utilizing whole-genome sequencing for varied medical conditions. And we are getting closer every day."
Accenture building. Photo: Getty
Geneyx also joined Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s domain expertise and its enterprise clients. The companies plan to leverage Accenture’s dataset of 55 million de-identified patient electronic medical records to further joint initiatives.
“Diagnosis of rare diseases, like the drug discovery process, can be slow and expensive. Geneyx’s technology can help clinicians diagnose diseases more quickly, make better predictions about disease prognosis, and most importantly, enable biopharmaceutical companies to speed and diversify drug development programs,” said Tom Lounibos, managing director, Accenture Ventures. “We look forward to partnering with Geneyx to capture value across the healthcare continuum.”