The Singapore-based gut microbiome company AMILI has raised $ 10.5 million in a series of funding rounds led by technology and life sciences investor Vulcan Capital.
New investors, including Proxa Group, TVM Capital Healthcare, MTech Group, Capital Code, Pureland Group, Blue 7 and SEEDS Capital, an investment arm of Enterprise Singapore, also joined the round.
What does this mean?
Founded in 2019, the company is building a huge multi-ethnic repository of microbiome data and samples from Asia, including the only existing microbiome bank in Southeast Asia. It is developing diagnostic tests, predictive algorithms, and microbiome-correcting interventions through its proprietary analytics engine known as AMILI Prime.
Its database is used to help academic institutions and biotech firms to identify new biomarkers for making intestinal health products, as well as to provide insights to food manufacturers.
Recently, AMILI launched its consumer health brand BIO & ME in Singapore, offering probiotic and diagnostic tests based on its own microbiome database. The brand aims to launch in the rest of Southeast Asia and Hong Kong later this year.
In addition, the company offers stool microbiota transplants to help treat bacterial infections.
What is it for?
According to a press release, the fresh funds will be used for its further expansion in Southeast Asia in the near future and later in the rest of Asia. It will support further research partnerships and discoveries, as well as its pursuit of the development of AMILI Prime.
Why it matters
Although there have been advances in global intestinal health research in recent years, “there is still a large gap in research representing the Asian population,” claims Tommy Too, managing director of Vulcan Capital.
Currently, AMILI focuses its clinical research on three areas: health and wellness, oncology, and responses to microbiome-based therapeutics. Since 2019, it has conducted more than 20 research studies – valued at more than $ 40 million – across various health indicators.
Snapshots of the market
Other microbiome players in the global market have also attracted investors in recent years. United States based Viome Life Sciences, which tests microbiomes and identifies biomarkers for chronic diseases, closed the প্রাক 54 million pre-Series C round in November. Its latest funding will support its clinical research aimed at developing early-stage diagnostics and therapeutics.
Another company, Ombre has raised 3 million in seed funds, which will be used to improve bowel health reporting and probiotic recommendations in its mobile app.