Breaking News Bar

Business News and Information

While 23andMe Raises $11 Million, Mohr Davidow Sells Stake To Invest In Rival

23andme, a company that helps consumers understand and decipher their genomes, has raised a partial $11 million out of a $24.26 million B round of funding, according to regulatory filings. 23andme, which was co-founded by Google co-founder Sergey Brin's wife, Anne Wojcicki, raised $9 million in Series A funding from Google, Genentech, New Enterprise Associates, and Mohr Davidow Ventures in 2007. Now PEHub is reporting that Mohr Davidow Ventures divested its stake in 23andme after investing in a direct competitor Navigenics. Losing one of your main investors to a competitor is not a good sign. 23andme maps customers’ DNA and helps them find information about their ancestry and their risks of getting certain diseases (Michael tried it last year ). Google ended up taking a $3.9 million stake in 23andMe in May 2007, after Brin had personally loaned the company $2.6 million. The debt was repaid after the Google investment. We're curious as to how much, if any, of this round's $11 million is Brin's or Google's money.
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear