10x Genomics adds $35M to its VC haul

Cash register full of money
10x recently launched its Chromium Single Cell ATAC sequencing solution, offering scalable multi-omics analyses. (Michael Burrell/iStock/Getty Images Plus)

10x Genomics has raked in an additional $35 million in funding through an extension of its series D round, which brought in $50 million last April. The new cash brings the sequencing company’s total financing up to $243 million.

That raise comes on the heels of the Pleasanton, California-based company’s first two acquisitions over the past few months: the epigenetics startup Epinomics, and the tissue-level expression mapper Spatial Transcriptomics.

The overall series D round was led by Meritech Capital, with participation from Fidelity and Wells Fargo, alongside 10x’s returning backers SoftBank and Paladin Capital. At the same time, the company also secured a $75 million credit line with Silicon Valley Bank.

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Over the past year, it has expanded into a new headquarters and manufacturing facility in Pleasanton, with plans to create 200 additional jobs in the area in 2019. The company has also opened new offices in Singapore and Shanghai, as well as a research facility in Sweden, while reporting a twenty-fold increase in revenues from 2015 to 2017.

In addition, 10x launched its Chromium Single Cell ATAC Solution and Feature Barcoding technology, offering scalable multi-omics analysis.

“As a company, we’ve seen tremendous growth and expansion in the last year,” said Serge Saxonov, CEO and co-founder of 10x Genomics. “Today’s funding announcement will allow us to continue with this momentum into 2019 as we scale 10x to become a company that impacts billions of lives around the world.”

Epinomics’ portfolio included approaches for profiling the compounds and proteins that attach to DNA and turn the expression of genes on or off, to direct the production of specific proteins within a cell. That complements 10x’s work in high-throughput, single-cell sequencing, the company said at the time.

Meanwhile, Spatial Transcriptomics works to link microscopy with RNA sequencing to capture gene expression across tissue samples, allowing researchers to visualize the type and quantity of genes expressed across specific locations.

“Now, researchers will not only be able to understand what is happening within a cell but also understand where cellular activities are happening in relation to one another,” Saxonov said in announcing the acquisition. “It’s another integral piece of the puzzle that gets us closer to seeing the whole picture of biology to drive new discoveries.”