Quantapore, a Menlo Park, CA-based nanopore sequencing tech company, closed its $15.55m Series 3 financing round.
The round was led by Northern Light Venture Capital with participation from Tsingyuan Ventures and Sangel Venture Capital, joined by Baidu Ventures and Cloudstone VC. In conjunction with the funding, Mr. Feng Deng of NLVC has joined Quantapore’s Board of Directors.
The company intends to use the capital to advance technology to beta units for deployment to select, early-adopters in industry and academia, and hire additional software and hardware staff to accelerate product development.
Led by CEO Dr. Martin Huber, Quantapore is a biotechnology company focused on the development of an ultra-low-cost, high-throughput DNA sequencing platform. Its proprietary technology is based on an optical interaction between a single DNA molecule and a nanopore and can be scaled to hundreds of thousands of nanopores per chip.