Masayoshi Son has done it again. The Japanese millionaire, owner of the technology conglomerate Softbank and known for his huge investments in technology companies around the world, has entered another sector that is showing promise. It is Embark Veterinary, a genomics and biotechnology startup that processes the genetic profile of pets in order to increase their lifespan.
Vision Fund, Son’s investment arm, has led a $75 million financing round for this new company, whose valuation has already soared to $700 million. The Japanese entrepreneur, who owns shares in the likes of Netflix, Amazon and Tesla, now believes your dog’s genomics is the next big thing. Based in Boston, Embark Veterinary is led by Ryan Boyko and his brother Adam, who founded it in 2015. Embark, which has since grown to increase its database by one million dogs, offers a DNA test for your pet that identifies its specific origin and determines health conditions to look out for. With this information, it is possible to anticipate possible future diseases in dogs and increase their life expectancy.
For example, the test can show that a healthy dog has a high percentage of broken bones, so it will be important to take care of its weight and diet. Another possible disease that can be detected is hyperuricosuria, which occurs when there are high levels of uric acid in the body, which can lead to kidney or bladder stones. Again, controlling the pet’s diet will be important to prevent the onset of this and other diseases and extend the pet’s life expectancy. As reported by Bloomberg, the company’s revenue increased 235% in 2020 and is close to surpassing $100 million this year. But how did the Japanese investor get there?
This latest signing seduced the Japanese with its claim to increase canine life expectancy by three years and its plan to achieve this in the next decade. In fact, among the dogs whose DNA is being processed by Embark is Son’s own pet, who has thus demonstrated his confidence in his investment. According to Bloomberg, the Boyko brothers‘ company discovered, among other findings, that by avoiding crossbreeding dogs from the same family, dogs’ lifespans can be extended by up to two years.
