# Genecast Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/genecast-co

- Industry: Medical Devices & Equipment
- Headquarters: Seoul, South Korea
- Website: www.igenecast.com
- Total disclosed funding: $16M
- Latest round: Series B (May 29, 2020)
- Investors on record: 12

## About

Based in South Korea, Genecast specializes in advanced liquid biopsy solutions that enhance cancer diagnosis and management, employing innovative technologies to improve testing accuracy and patient outcomes.Founded in 2016, Genecast Co., Ltd. operates from its headquarters in Seoul, South Korea, focusing on advanced liquid biopsy solutions. The company has secured a total of KRW 6 billion in funding in its latest Pre-IPO round, which marks a significant milestone in its growth. CEO Seung-chan Baek has been instrumental in guiding the firm through its strategic initiatives. Genecast has engaged in six total deals to date, with the most recent deal occurring on June 30, 2024.Genecast specializes in advanced liquid biopsy solutions aimed at addressing critical challenges in cancer diagnosis and management. The company's core offerings include the ADPS (Advanced Digital Polymerase System) and Digital ADPS technologies, designed to enhance sensitivity and multiplexing capabilities in cancer testing. With a remarkable sensitivity of 0.01%, these products facilitate early diagnosis and minimal residual disease (MRD) testing, positioning cancer as a more manageable condition for patients. Genecast's key clients encompass medical professionals, diagnostic laboratories, and healthcare institutions looking to implement personalized medicine approaches in oncology. The company targets various global markets, including North America, Europe, and parts of Asia, thereby expanding the accessibility of its innovative diagnostic tools to a broader patient population.In 2023, Genecast reported a revenue of KRW 12,110.7 mn, while its EBITDA for the same year was reported as -KRW 2,799,012.4.Genecast Co., Ltd. is focused on future growth through the development of new products aimed at enhancing its liquid biopsy portfolio. The company intends to leverage recent funding of KRW 6 billion raised in June 2024 to support these initiatives. Additionally, Genecast plans to expand its presence in North America, Europe, and parts of Asia by the end of 2025, aiming to enhance its market reach and accessibility of its diagnostic solutions.

## Funding rounds

- Series B, May 29, 2020, $12M — KDB Capital, Partners Investment, CJ Investment, KB Securities, PNP Investment, Green Cross Holdings, DK&D Co., Ltd.
- Series A, May 9, 2018, $1.9M — CJ Investment, IBK Capital, Simbon Investment Partners
- Series A, Apr 3, 2018, $3M — Partners Investment, Korea Technology Finance Corporation, Simbon Investment Partners
- Seed, Sep 1, 2017, $0M — SparkLabs Accelerator, Mirae Asset Venture Investment

## Investors

- SparkLabs Accelerator (https://capitalatlas.ai/funds/sparklabs-accelerator) — Seed
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Seed
- Partners Investment (https://capitalatlas.ai/funds/partners-investment) — Series A, Series B
- Korea Technology Finance Corporation — Series A
- Simbon Investment Partners (https://capitalatlas.ai/funds/simbon-investment-partners) — Series A
- CJ Investment (https://capitalatlas.ai/funds/cj-investment) — Series A, Series B
- IBK Capital (https://capitalatlas.ai/funds/ibk-capital) — Series A
- KDB Capital (https://capitalatlas.ai/funds/kdb-capital) — Series B
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series B
- PNP Investment (https://capitalatlas.ai/funds/pnp-investment) — Series B
- Green Cross Holdings — Series B
- DK&D Co., Ltd. — Series B