In the two years since DNAnexus raised $15 million from Google Ventures and other investors, competition among firms offering cloud-based storage, analysis and sharing of genomic data has intensified. Now, the California-based company has returned to the financing well for cash to further develop its data platform.
The venture capital wing of Google ($GOOG) has once again backed DNAnexus, joining with other existing investors and newcomer Claremont Creek Ventures to commit $15 million. DNAnexus has now raised more than $30 million to support its push to become the go-to hub for storing and sharing genomic data but faces competition from other startups and bigger rivals with deep pockets. Late last year, Curoverse raised $1.5 million for its open-source project, and Illumina ($ILMN) is also busy developing BaseSpace.
DNAnexus has beaten rivals to big projects--such as work with Baylor College of Medicine and Amazon ($AMZN) that generated 430 terabytes--and will use the cash to further its data hub ambitions. "This funding will significantly expand our capacity to support the growing number of commercial and academic labs around the world utilizing our platform to manage DNA data and analyses in a clinically appropriate manner," DNAnexus CEO Richard Daly said in a statement.
In the four years since DNAnexus was founded, the concept of cloud-based storage of genomics data has become mainstream, but competition has increased, too. DNAnexus has responded by incorporating user-created apps into its platform--a strategy also pursued by Illumina--and backing developers with $1,000 in credit and free technical support.
- read the DNAnexus press release
- here's FierceBiotech's take