10x Genomics, a Pleasanton, Calif.-based company focused on accelerating genomic discovery, raised $125m in funding.
The funding included a $50m Series D financing led by Meritech Capital Partners and included new investor Wells Fargo Strategic Capital along with current investors Paladin Capital, Fidelity and the SoftBank Group. This financing was complemented with a new $75m credit facility with Silicon Valley Bank.
The company intends to use the funds to continue to expand its global commercial organization, including new offices in Leiden, The Netherlands and Shanghai, PRC, as well as to expand its internal manufacturing capabilities.
Led by Serge Saxonov, CEO and Co-founder, 10x Genomics is building tools for scientific discovery via the Chromium System, which, through a combination of novel microfluidics, chemistry and bioinformatics, enables researchers to understand the fundamentals of biology.
For 2018, the Company has shared plans for multiple new products including fundamental new capabilities such as single cell DNA sequencing for oncology, single cell multi-omic measurements of proteins and gene expression, and single cell epigenomic analysis.