Gencove, a NYC-based low-pass genome sequencing platform, raised $3m in funding.
The round was led by Spero Ventures, with participation from Alexandria Venture Investments and Burst Capital and existing investors Third Kind Venture Capital and Version One Ventures. In conjunction with the funding, Shripriya Mahesh, partner at Spero, will join Gencove’s board of directors.
The company intends to use the funds to develop new applications for agricultural markets as well as expand commercial operations in human genetics.
Founded by scientists from the New York Genome Center and led by Joe Pickrell, CEO, Gencove develops technologies that enable high-throughput and low-cost genome sequencing. Using its innovative genome imputation technology, the company delivers high quality genomic interpretation from small amounts of sequencing data. Its technology partners include BGI and SeqWell.
Customers span consumer, clinical, and agricultural markets and include academic institutions like the Broad Institute, University of Michigan, and Oxford University.