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Google pours another $3.2M into genetics startup

Wed, 11/10/2010 - 6:05pm
The Associated Press

Google Inc.'s venture capital arm, Google Ventures, invested $3.2 million in a genetics startup run by Google CEO Sergey Brin's wife in November, bringing the Web search leader's total investments in 23andMe Inc. to $10.2 million.

In a Securities and Exchange filing, Google said it participated in a Series C preferred financing round and continues to hold a minority stake in 23andMe. In a separate SEC filing, 23andMe reported it raised a total of $22.2 million in the round.

Google said its audit committee approved the investment. A new lead investor determined the valuation of the Series C investment, and not Google, according to the Web search company. It did not name the new lead investor.

Anne Wojcicki, co-founder of 23andMe, is married to Brin, who personally invested about $3.4 million in the financing.

The startup offers genetic testing for people interested in what diseases they might be genetically predisposed to, or for people who want to learn more about their ancestry. The tests cost between $400 and $500.

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