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23andMe is raising VC at a $1.5 billion valuation

Personal genomics company 23andMe is "raising close to $200 million in a funding round led by Sequoia Capital," according to TechCrunch.

Price talk: A source tells Axios that the round is being done at a $1.5 billion pre-money valuation, which would be a significant step-up from where 23andMe last raised funding in late 2015. It's also likely that the total will come in a bit higher than $200 million, with existing investors like Fidelity expected to participate.

Value proposition: Not only does 23andMe make money via direct-to-consumer testing and analysis kits, it also sells aggregate data to drug developers.