Ovaskainen Single Family Office Invests In GenomSys CHF 9.3M Series A

Ovaskainen Single Family Office Invests In GenomSys CHF 9.3M Series A

The Lausanne-based company GenomSys is working on a software platform to manage genomic data. A recent CHF 9.5M Series A financing round was led by the Jari Ovaskainen single family office Preon Capital.

GenomSys working on “The Future of Genomics”

GenomSys describes its service as the only modular software platform in the genomic data industry that is ISO compliant. Thereby, the platform offers enhanced data security and privacy, it allows interopability between devices and applications and it simplifies genomic data processing. The company thereby uses the so called “MPEG-G” standard, which is the largested coordinated effort to store genomic information in a consistent way. Genom Sys is led by Claudio Alberti, a researcher and major contributor of the MPEG-G standardization activity. The company collaborated with bioinformatics institutions as well as leading universities (École polytechnique fédérale de Lausanne, Universitat Pompeu Fabra, etc.).

Ovaskainen single family office Preon Capital as influential backer

The recently completed funding round will be used to accelerate the development of GenomSys’ solution for DNA data processing, based on the MPEG-G standard. The CHF 9.5M Series A was led by Preon Capital, Jari Ovaskainen’s single family office. Ovaskainen sold a Finnish internet portal in 1999 for €230M to Telefonica. Since then, he mainly acted as a business angel. Succesful investments were, for example, the game development company Supercell which was sold to Tencent for $10.3B or CERN-spinoff Advanced Accelerator Applications (AAA), which was sold in 2017 to Novartis for $3.9B in cash. Other investors in this round were Elysia Capital, Dolby Family Ventures and Susman Ventures.

Financial Post, 20.09.2019
Preon Capital, 20.09.2019
Ousa Chea, 20.09.2019

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