U.S. VC Firm Invests 27 Crores in Gurgaon based Core Diagnostics

Bangalore: Core Diagnostics, a Gurgaon based clinical laboratory focused on Next Generation Diagnostics for disease stratification and therapy selection has raised investment of 27 crores from American VC firm Artiman Ventures, reports Dealcurry.

Artiman Ventures funded this startup in October 2012 and has equal share of equity as the founders and employees in the company. This early stage investor also has a global corpus of $750 million. In another deal Core Diagnostics went on to acquire an American startup OncoMDx through stock-swap deal to obtain its technology.

Core Diagnostics specializes in cardiology, endocrinology and oncology and plans to launch its operations later this month. Founded by Zoya Brar, a sociology major from Lady Shri Ram College and Arghya Basu, computer engineer from Jawaharlal Nehru Technological University, Hyderabad; Core Diagnostics aims at reducing the cost of specialized tests along with reducing the time taken for the entire doctorial process.

This funding also marks the fifth investment of Artiman as it has earlier invested in companies like Cellworks, Guavas, Oncostem Diagnostics and Tonbo Imaging.