The number of people going for genetic testing is increasing exponentially with the database doubling every 10 months & is projected to reach 1 Billion in 5 yrs. Our vision is to make DNA data actionable for people in their daily life & help them live healthier & longer. Our app connects with the user’s genetic data, gives them personalized nutrition & lifestyle insights, along with an action list that's built on our proprietary personalized food scoring system.
We launched our app on iOS and Android store in Oct 2018.
- App download: 30K+
- DNA connected users: 11.5K+
- Monthly Sales: USD 15K+
- Engagement: M1 active retention of over 50% on our app
- Seed raised so far: $599K
- Last round valuation: $ 5M
Current DNA tested base: 30M
Projected to grow to 100M by end of next year, doubling every 10 months (Source- MIT Technology Review)
Certain journals and papers are betting that this database will be around 1B users in next 5 years. Most of these users have got genetic testing done due to genealogy or ancestry reasons and will be open to using their DNA data to do more ( eg using it for health).
We launched our app in Oct 2018 and in just few months are able to get over 30K downloads and over 11.5K DNA connected users without any significant marketing budget (Cost to acquire a DNA tested user for us is at ~$6). 25% of our customers are paid users. The market is just not restricted to in-app subscription for these users but to sell personalized health products on a digital platform for DNA connected users (eg custom multivitamins, custom energy bars, bio marker tests etc). These are motivated users as they have already spent a big amount (~over $100) on their DNA testing and spending huge amount each year on health.
With just USD 2.5-3M investment we can grow our user base by nearly 21x and monthly revenue by 72x in next 18 months.
Problem or Opportunity
Chronic diseases are among the most prevalent and costly health conditions in North America. Nearly 45% of adults suffer from at least 1 chronic diseases in the United States. According to the Centers for Disease Control, in the U.S. alone, chronic diseases account for nearly 75 percent of aggregate healthcare spending. Most of these chronic diseases are due to genetic factors or bad lifestyle choices and are preventative in nature. Everyone wants to live a healthy and vibrant life but its too tough in the current society with so much varied, generalized information available and no real personalized assistance. Healthcare and Pharma industry in last 4 decades has focused mainly on disease control or cure and not really on preventative health. More and more individuals are taking things under their control to work on preventative health and that is why various diet fads or experiments (Keto, Vegan, Palio etc) have become instant hits in last few years. There is an opportunity to work on preventative health space in a very personalized way and leverage technology and AI to execute it. Nearly 30M people are DNA tested now and database is doubling every 10 months which can help personalize the solution to the core for these individuals.
Solution (product or service)
Gini is a health tech app which connects with user's genetic data to gather information on various health risks, intolerances and general traits of an individual. Basis this information and other data sets like user preferences, age, gender, health condition etc it will provide the user a solution to work on preventative health and live a healthy, vibrant life. The app will use machine learning, AI to better its algorithms in the long run and nudge user to pick up the right lifestyle choices in day to day life which will help an individual live healthy. The recommendations or information provided by Gini are very personalized as it uses an individual's genetic data and hence understands about their body and also uses various datasets on user preferences and behaviour. Our propriety 'Food Lens' feature allows a user to search any food item around them and see what it means genetically (good or bad basis user's genetic health risks) for them. Gini decodes genes-health-nutrition relationship for an individual and help them overcome genetic health risks by ensuring intake of their gene adjusted nutrition requirement (personalized to each user).
There is no direct competition as what we are trying to do is different from what other genetic companies are doing currently. But below are some close alternatives which users are adopting-
Big Companies: 23andme (through Lark), Color Genomics
Advantages or differentiators
We are not just providing health and general trait reports like most of our current competitors. We are making DNA data actionable in user's day to day life. Apart from genetics, we will be leveraging user preferences, behavior and other markers to provide a digital assistant which will help user adopt better lifestyle choices in day to day life. Our product is not about selling a one time product to a user but to engage in daily life and provide an end to end preventative health solution including personalized recommendations on food, products, nutrition and wellness coaching etc
Money will be spent on
Total amount being raised in the current round: USD 2.5M (at USD 10M Pre-money)
The money will be spent on:
Further Product Development (including tech team including AI, Machine Learning and Backend etc): 53%
Ops and other expenses: 21%