finance
Prenetics scales IM8 subsidiary to $200 million recurring revenue
Prenetics grew its health and wellness subsidiary IM8 to $200 million in recurring revenue within 19 months. The company secured a $1 billion non-dilutive commitment from General Catalyst to support expansion across 43 countries.
Jul 15, 11:04 AM·1m read2 sources
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Prenetics grew its health and wellness subsidiary IM8 to $200 million in recurring revenue within 19 months. The company secured a $1 billion non-dilutive commitment from General Catalyst. It is using the funds to expand operations across 43 countries.
Funding and cash position The firm is preserving $100 million in cash for research and development. The commitment does not require issuing new shares.
Expansion plans Prenetics stated the capital will support growth in multiple markets. The company has not disclosed specific timelines for new country entries.
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