Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally

Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally

SUMMARY

DNA-based career guidance startup GenLeap has raised $3.3 Mn (INR 27 Cr) in a Pre-Series A funding round

Embassy REIT's Mike Holland, Tata Realty’s Sanjay Dutt, Olam Food’s Karthikeyan Balasubramanian among others have also participated in the round

GenLeap’s US entity has been listed on the Regulation A Plus IPO market of the US and plans to shortly launch a $50 Mn IPO in that country

DNA-based career guidance startup GenLeap has raised $3.3 Mn (INR 27 Cr) in a Pre-Series A funding round. 

Existing investors- Embassy REIT’s Mike Holland, Tata Realty’s Sanjay Dutt, Olam Food’s Karthikeyan Balasubramanian, Deepak Kaul and Manish Dhawan, KPMG’s Neeraj Bansal have taken part in the funding round. Besides, new investors including Policybazaar’s CFO Mandeep Mehta, Embassy REIT’s  Vikaash Khdloya, Sunil Bajaj and Yoguen Oukabay were also part of this investment round.   

GenLeap’s US entity will be listed on the ‘Regulation A Plus IPO’ market of the US and plans to shortly launch a $50 Mn IPO in that country.

‘Regulation A’ is when companies are exempted from registering for public offerings on the US bourses. 

The development comes almost a year after GenLeap secured INR 60 Cr in a seed round from Super’s Vivek Vaidya, Stono River’s Kevin Donlon, Restech Global’s Ayush Singh, Mas Infratech’s Mohit Juneja, Dipon Group’s Rashed Mahmood and Embassy REIT’s Mike Holland.

Founded in 2021 by Sachin Sandhir, Nimish Gupta, Nitin Thakur, Shweta Kataria and Mohit Juneja, the Gurugram-based GenLeap offers DNA-based services for career growth and development, health and wellness, relationship compatibility and disease susceptibility, among others. 

 Its website says, the startup’s target audience includes students, parents, working professionals, academic institutions and edtech startups. It facilitates students and professionals in ascertaining apt careers while it also enables academic institutions as well as edtech startups in attracting the right students/talent.

“GENLEAP will soon be expanding its geographical footprint and growth in the US, Middle east and other markets and given its global ambitions to become a leading force in the Genomics testing and solutions market, a $90 Bn industry,” Sachin Sandhir, founder and CEO of GenLeap, said. 

The startup will utilise the funds from this funding round and from the IPO to expand its marketing and distribution footprint across the globe. Besides, it plans to enter the US, Middle East, and Europe. Further, it plans to use the incoming capital/proceeds from the IPO to build research and development labs globally and expand its research in emerging areas including behavioural genetics. 

“Given the huge amount of genetic and personality data and the biobank which we shall handle, GENLEAP is committed to investing heavily in data research, data protection, and data privacy and plans to set up data centres to ensure a fully compliant approach,” said Nimish Gupta, founder and director of GenLeap.

The startup aims to offer services to 100 Mn people in the next five years.  

In this space, it competes with the likes of CareerDNA and Absolute Genetic, among others. 

After witnessing a boom in 2020 and 2021, India’s edtech segment is striving hard for survival now. As a result, giants including BYJU’S, Unacademy and Vedantu have resorted to several cost cutting measures including laying off scores of employees, downsizing business operations and adopting hybrid business models. 

According to the Inc42 layoff tracker, edtech startups have sacked more than 8000 employees in the country from January 2022 until now.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally-Inc42 Media
Edtech Enabler GenLeap Secures Funding To Build R&D Labs Globally-Inc42 Media
You’re in Good company