XCode Life Sciences revealed that Shead Holdings had invested INR1 crore in the Chennai-based biotechnology start-up. Shead Holdings is a United States-based micro-venture capital fund. Another individual investor had joined the investment.
Shead Holdings and R. Narayanan of Chennai Angels had earlier committed financial aid in the firm. The capital raised at that time was initially placed at the Vellore Institute of Technology.
XCode said that the capital they raised will be used for the biotech companu's upcoming product launches. These products include an mobile phone-based health advice application and an anti-ageing topical cream.
The flagship product of XCode is a preventive wellness program that pinpoints the end user's predisposition to obesity, diabetes, and cardiovascular diseases. The assessment is done through a DNA analysis of the user's saliva sample. Based on the program's findings, a customised nutrition and fitness program is provided for the user.
XCode is also involved in the research on risk assessment neurological diseases such as Alzheimer's and Parkinson's. XCode also hinted that it will seek a Series A venture capital funding soon.
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