24 January 2020 | News
The investment will enable in scaling up Crysta and help improve Redcliffe Life Sciences’ market reach and technological capabilities
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New Delhi based startup brand Crysta recently raised Rs 10 crore in a Pre-Series A funding round led by the family office of Ruchirans and Anuraag Jaipuria. The investors also include several family fund including Mumbai-based Green Shots Capital and Alfa Ventures, Delhi-based Real Time Ventures and NGB Dx, Dubai-based Petrotech, Steel City Securities and angel investors Lalit Wadhwa, Dr Kriti Maroli amongst others.
Crysta is an end-to-end pregnancy and fertility platform that uses in-house technology to offer various diagnostic and screening services combined with regular counselling and clinical data management. These test includes pre-conception and fertility tests, non-invasive prenatal screening (NIPS), clinical micro-array, pre-implantation genetic screening (PGS) for IVF centers, and carrier and newborn screening.
Crysta uses both biochemistry and molecular NGS with its own bioinformatics platform. The brand is gradually scaling up across all aspects of mother and child health.
Speaking about the investment, Dheeraj Jain, Founder, Redcliffe Life Sciences, said, "The Pre-Series A funding will help us in building an end-to-end reproductive health platform covering all relevant aspects of pregnancy and fertility care. The potential is huge in this segment, and the current round will allow us to scale up Crysta and our other capabilities across major cities. We are also preparing for the $10 million Series A round for a much larger expansion in the mother and child segment. Our scientific team works with all major hospitals for long-term collaboration apart from research institutes to ensure that we have the best technology in place.”
Ruchirans Jaipuria, MD, Jaipuria Beverages said, "Crysta is an amazing disruption in the reproductive health segment. Right from the thought of conceiving, simple hormonal and fertility tests to pre-implantation using NGS and assisted pregnancy all the way to newborn screening, it's a complete package for couples across all income segments. We believe in the team’s capabilities in using this funding to scale up their technology platform.”
Ashish Dubey, Redcliffe Life Sciences’ Co- Founder said, “Our ability to turnaround the results fastest in the market, apart from our in-house sequencing platform and quality test menu make for a very compelling case for clinicians to work with us. Unlike the traditional path labs, we focus on high-quality high value segment using molecular sequencing towards precision medicine. This funding also expands other genomics test offering of Redcliffe Life Sciences mostly importantly exomes sequencing where we have large customer base.”
Since its inception in 2018, Redcliffe Life Sciences has gained a good market share in each of its segments. Over the last 2 years, it has also diversified its focus areas to include rare disorders, oncology, and clinical gene sequencing. It works directly with clinicians at hospitals and labs and has processed 5000 high-value samples within its first year of operations.