First investment tranche for DNA ERA signed. The campaign continues.
20/06/2022
The Slovak biotechnology startup DNA ERA has built an established position in the field of genetic analysis and DNA testing within the Czech and Slovak market. The company plans to expand into new markets and innovate its portfolio of products and services, for which it plans to use the capital from Crowdberry investors. The first investment tranche, with a target amount of EUR 1 million, was signed at the beginning of June. The investment fund managed by CB Investment Management also participated.
The DNA ERA company is focusing on direct genetic analysis of DNA using proprietary software and an interactive application for data interpretation. Thanks to this, it can help to detect predispositions to diseases, genetic risks or to find out sports potential. After an initial investment of EUR 250 thousand from an investment fund CB Growth ONE in 2020, DNA ERA has managed to successfully enter the Czech market and launch new products and services. The company ended 2021 with a turnover of EUR 684 thousand and a year-on-year revenue growth of more than 700%.
DNA ERA is following the positive trend even this year. To further accelerate its growth strategy, it has launched an investment campaign in cooperation with Crowdberry to raise capital from private investors in March this year. "We see the capital in the form of new investment as a stepping stone on the way to further expanding our product portfolio. In addition, backed by investors from the Crowdberry platform, we will focus on offering new tests and a modern personalized approach to prevention and health. Later this year we plan to enter a new market and offer DNA tests in local language and with local support also in Poland," says CEO and founder of the company, Michaela Šišková.
The potential of this part of the biotechnology industry is confirmed by the value of global market for genetic testing, which reached EUR 7 billion in 2021 – and is expected to grow at an average annual rate of 7.6% until 2030, reaching almost EUR 14 billion (source: Globenewswire). In Slovakia, DNA ERA is a pioneer in this field and its business as well as scientific potential is appreciated by Pavol Čekan, its expert guarantor:
"It is very important for the biotechnology ecosystem in Slovakia that we have companies like DNA ERA. It is another example of a company that is achieving success not only in the field of science, but also in the field of business."
The pandemic has shown that there are limits in healthcare capacity, and solutions such as those made available to people by DNA ERA can bring an important shift in society. This is confirmed by the significant growth in DNA ERA test sales achieved in 2021. "The new investment will allow DNA ERA to continue expanding and broadening its portfolio of products and services. Investors have taken the opportunity to join a company at an early growth stage with a quality founding team, which could bring them a higher valuation in the event of a potential exit," Jakub Bachratý, Investment Manager at Crowdberry.
Since the launch of the investment campaign, the company has managed to exceed half of the target amount in less than 3 months, with the 1st tranche of the EUR 400k investment already signed. The company intends to use the investment from Crowdberry investors with a target amount of EUR 1 million to expand its product portfolio and continue its expansion in a fast growing market.
The opportunity to invest in DNA ERA and participate in its further growth is still open for Czech and Slovak investors.