Rare Disease Screening Firm 3Billion Closes $13M Series C Financing
The Korean startup 3billion has officially closed its Series C funding by raising $13 million. They have raised a total of $30 million since its seed round in 2017. The recent Series C round was led by Wells Investment, JW Asset, Magna Investment, Yuanta Investment, Aventures Investment, Korea Investment & Securities, and Kakao Investment. 3billion also stated that by early 2022 they plan to go public in the KOSDAQ exchange in South Korea.
3billion offers genetic rare disease diagnostic services. They processed 8,000 tests in 2020 from over 32 countries and expect to process 20,000 this coming year. They have developed 3Cnet, their AI deep learning-based variant interpretation algorithm to accomplish this feat, claiming that they are twice as accurate in identifying causal variants compared to previous methods.