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Genomic tech is gaining traction, but a lack of awareness may hamper growth
Despite a new initiative from the Health Ministry and rising interest from venture capitalists, public awareness on the benefits of genetic testing is still low.
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The genome is like a human instruction manual in which words are our genes and letters our DNA. (AFP/Robyn Beck)
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ndonesian start-ups developing DNA-related solutions are gaining traction with more investors showing higher appetite to invest in the industry, especially after the COVID-19 pandemic.
Funding for start-up companies has continued to flow, especially those in tech industries, which marks a shift of investors’ attention.
Recently, a startup that provides direct-to-consumer DNA tests called Asa Ren, has raised US$8.15 million in funding from United States and local venture capital firms that includes a publicly-listed healthcare firm, PT Diagnos Laboratorium Utama (Diagnos), a subsidiary of RS Bunda Group.
Diagnos has invested in another genomic tech company called Nalagenetics, which partners with healthcare providers to provide personalized medications, diets and screening solutions. The fledgling startup raised a $12.6 million series A round of funding last year.
Read also: As COVID-19 wanes, govt seeks to transform healthcare system
East Ventures, a homegrown venture capital firm, also stepped up its attention to the industry by investing in Nalagenetics and Nusantics, with the latter using genomic technology to understand the impact of microbes on human health.
Last year, Nusantics was admitted to a genomic tech-focused accelerator that was organized by Illumina, a major US-based DNA sequencing firm.
