Men dominate venture capital and angel investment industries, but a handful of women tech entrepreneurs in India are taking steps to change that notion.
Tech entrepreneurs and investors Aarti Grover, Meera Kaul and Sarah Dhar have teamed up with Google India managing director Rajan Anandan and other angel investors to invest about Rs 7 crore in genetic-testing startup Mapmygenome.
The Hyderabad-based startup does gene mapping for Indians to discover their propensity for various illnesses, similar to the service provided Googlebacked DNA analysis company, 23andMe, in the United States. Founded by Anu Acharya, an alumnus of Indian Institute of Technology, Kharagpur, Mapmygenome will use the funding to scale up its service, hire talent and for research and development.
"We partnered with several major hospitals and are looking forward to making these tests available through our genetic consultants, who have advanced degrees like PhD in genetics," said Acharya."The funding will help us first scale in India and then Asia," said Acharya, who has also tied up with online retailers Amazon and Snapdeal to provide the service.
Most of her customers come from metros right now but a growing number from smaller towns such as Vijaywada, Coimbatore, Kharagpur and Jalandhar are turning to the startup to test for diseases like cardiovascular-related problems, diabetes, Alzheimer's, schizophrenia and male pattern baldness. "There is a tremendous future for this sector in our country and Mapmygenome is a pioneer in this space," said Aarti Grover, MD at CMS Computers.
Silicon Valley-based investor and entrepreneur Meera Kaul said while her investment was largely based on opportunity analysis, a huge part of the decision was because of the entrepreneur. "I like entrepreneurs that have their skin in the game and Anu (Acharya) is one hell of an investment," said Kaul.
Another investor, Satveer Singh Thakral, chief executive of Singapore Angel Network, is of the view that as India's economy develops, preventive healthcare will form a rising share of the household budget."We are backing this experienced team to scale and make this technology commercially available to people from all walks of life," he said.
Genomic assessment companies can assess even traits such as alcoholism, athletic ability and lactose intolerance as well as specific responses to certain drugs by testing a person's saliva or blood sample using gene-mapping equipment. Next-generation genomics is one of 12 disruptive technologies with potential to deliver economic value of up to $33 trillion a year worldwide by 2025, according to McKinsey Global Institute
Tech entrepreneurs and investors Aarti Grover, Meera Kaul and Sarah Dhar have teamed up with Google India managing director Rajan Anandan and other angel investors to invest about Rs 7 crore in genetic-testing startup Mapmygenome.
The Hyderabad-based startup does gene mapping for Indians to discover their propensity for various illnesses, similar to the service provided Googlebacked DNA analysis company, 23andMe, in the United States. Founded by Anu Acharya, an alumnus of Indian Institute of Technology, Kharagpur, Mapmygenome will use the funding to scale up its service, hire talent and for research and development.
"We partnered with several major hospitals and are looking forward to making these tests available through our genetic consultants, who have advanced degrees like PhD in genetics," said Acharya."The funding will help us first scale in India and then Asia," said Acharya, who has also tied up with online retailers Amazon and Snapdeal to provide the service.
Most of her customers come from metros right now but a growing number from smaller towns such as Vijaywada, Coimbatore, Kharagpur and Jalandhar are turning to the startup to test for diseases like cardiovascular-related problems, diabetes, Alzheimer's, schizophrenia and male pattern baldness. "There is a tremendous future for this sector in our country and Mapmygenome is a pioneer in this space," said Aarti Grover, MD at CMS Computers.
Silicon Valley-based investor and entrepreneur Meera Kaul said while her investment was largely based on opportunity analysis, a huge part of the decision was because of the entrepreneur. "I like entrepreneurs that have their skin in the game and Anu (Acharya) is one hell of an investment," said Kaul.
Another investor, Satveer Singh Thakral, chief executive of Singapore Angel Network, is of the view that as India's economy develops, preventive healthcare will form a rising share of the household budget."We are backing this experienced team to scale and make this technology commercially available to people from all walks of life," he said.
Genomic assessment companies can assess even traits such as alcoholism, athletic ability and lactose intolerance as well as specific responses to certain drugs by testing a person's saliva or blood sample using gene-mapping equipment. Next-generation genomics is one of 12 disruptive technologies with potential to deliver economic value of up to $33 trillion a year worldwide by 2025, according to McKinsey Global Institute
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