23andMe, the personal genomics and biotechnology company, has announced that it has raised $120 million in a funding round led by Leafly, the world’s largest cannabis information resource. The round also included participation from existing investors, such as Fidelity Management and Research Company and Casa Verde Capital.
Founded in 2006, 23andMe has become one of the most well-known and respected names in the world of personal genomics. The company offers a variety of DNA testing kits that allow individuals to learn more about their genetic makeup, including information about their ancestry, health risks, and inherited traits. The company has also been involved in a number of research studies, and has even been granted FDA approval for certain genetic tests.
Leafly, on the other hand, is a relatively new player in the market. The company was founded in 2010 and offers a wide range of resources for cannabis consumers, including information about different strains of cannabis, reviews of dispensaries, and guides on how to use cannabis for medical and recreational purposes.
While these two companies may seem quite different on the surface, their collaboration in this funding round makes sense when considering the growing interest in the intersection of genetics and cannabis. The cannabis industry is rapidly expanding, with many states in the US having legalized marijuana for medical or recreational use. As more people are using cannabis, there is a growing need for accurate and reliable information about the effects of different strains and how they interact with an individual’s genetic makeup.
23andMe’s genetic testing data can provide valuable insights into how different genetic variations may affect a person’s response to cannabis. For example, a person’s genes may make them more susceptible to certain side effects of cannabis use, such as anxiety or paranoia. By providing this information to Leafly, the company can offer more personalized and accurate recommendations to its users. This can in turn help people make more informed decisions about their cannabis use and avoid any potential negative consequences.
In addition to this, the funding will also allow 23andMe to expand their research in genetics and cannabis. The company plans to use the funds to conduct more studies on the genetic factors that influence how people respond to cannabis. This can help to deepen our understanding of how cannabis works on the genetic level and how it can be used effectively for medical purposes.
The funding also allows Leafly to expand its services and resources. With this new funding, Leafly plans to enhance their mobile app and website offerings, as well as expand into new markets and continue to build out the team. The company’s goal is to be the go-to resource for anyone seeking information about cannabis, and this funding will help them achieve that goal.
In summary, 23andMe and Leafly’s funding collaboration is a clear indication of the growing interest in the intersection of genetics and cannabis. By combining 23andMe’s genetic data with Leafly’s cannabis expertise, the two companies can offer more personalized and accurate information to users, helping to improve the overall cannabis experience. With this funding, both companies will be able to continue to grow and expand their services and resources, ultimately benefiting consumers, researchers, and the cannabis industry as a whole.