Genetic diagnostics player Lilac Insights raised Rs50 Cr from Rajiv Dadlani, others
Lilac Insights, a genetic diagnostic laboratory, has raised Rs50 Cr from various investors for expansion activities. The funding round saw participation from banker Rajiv Dadlani, Allana Group, Sajid Fazalbhoy, DLF Family Office, Sebi-registered fund Rockstud Capital, Kayenne Ventures (Singapore), Salgaocars (Goa), Associated Capsules Group, and Singapore-based Thakrals.
The company offers specialised diagnostics services for prenatal, newborn, and oncology or cancer disorders, and is planning to get into counselling for mental health and genetic problems. Currently, a majority of its work is concentrated in the metro cities and other major cities of the country, where the startup has 7,000 doctors and 1,700 hospitals in 250 cities or towns who send their samples for tests.
The startup has plans to go public as the revenue touches Rs300 Cr, which can also give an exit opportunity to the existing investors. Lilac insights is valued at Rs200 Cr post fundraiser, and the new investors will be getting 25%stake. The promoters will be holding 60% stake, while a set of early investors will have 15% , the company announced.