Wellness platform Answer Genomics has announced the successful raise of $500,000 in a pre-series A funding round, with leading funding from venture capital firm Inflection Point Ventures. The company intends to allocate these funds towards scaling its sales and marketing operations, talent acquisition, and furthering research and development in the field of genomics. Over the next 12 months, Answer Genomics plans to sequence more than 10,000 genomes as part of its aim to enhance health and wellness.

Vikram Ramasubramanian, Partner at Inflection Point Ventures, commented on the importance of genomics in healthcare."Research and development in healthcare have always been of critical importance, with Genomics being at the cutting edge", says Vikram. "Answer Genomics not only addresses an individual's need for better health but also offers data for large organizations to create better products", he further adds.

Answer Genomics specializes in leveraging multi-omics data to inform healthcare decisions for individuals. This strategy encompasses factors such as genetic profiles, microbiome data, and physiological parameters, resulting in a holistic understanding of both physical and mental health. By collecting approved samples and curating a vast genetic information database, the company analyzes 5 million data points from a minimal blood sample.

This data-driven process allows Answer Genomics to offer personalized health advice, taking into account various parameters, including genetic makeup, medical history, microbiome composition, and lifestyle choices. The platform provides guidance on dietary habits, lifestyle decisions, supplement recommendations, and suitable medications.

Rahul Ranganathan, CEO of Answer Genomics, emphasized the transformative potential of AI in healthcare. “The advent of AI is changing the landscape of healthcare”, he stated. “Multi-omics data collected over time forms a picture of current and future health, allowing accurate prognosis, early diagnosis, and precision treatment. We believe precision health would reduce the burden on our healthcare infrastructure by allowing for accurate predictions, remote interventions, and faster recoveries”, he further added.

As per information sourced from NITI Aayog, the Indian healthcare market is poised to reach a worth of $372 billion in the year 2022. Notably, the preventative healthcare sector is foreseen to undergo substantial expansion, with a projected compound annual growth rate (CAGR) of 22%. Answer Genomics is poised to play a vital role in this evolving landscape by providing data-driven insights and innovative solutions for enhanced wellness and healthcare outcomes.