Ginkgo Bioworks, a Boston, MA-based organism company, raised $290m in Series E financing round.
The round, which brought total funding to $719m, included funds and accounts advised by T. Rowe Price Associates, Inc.
The company intends to use the funds to further expand the reach of its platform for cell programming.
Led by Jason Kelly, CEO and co-founder, Ginkgo Bioworks uses synthetic biology to grow products (instead of manufacturing them) into consumer goods markets, enabling fragrance, cosmetic, nutrition, and food companies.
In the past two years, Ginkgo has grown through large partnerships across major industries, including a $122M deal to produce cultured cannabinoids with Cronos, a partnership with Roche for up to $160M to discover novel antibiotics, and an $80M investment in Synlogic to accelerate the development of living medicines.
Last year, the company also launched its second spinout company, Motif Foodworks, with $117m in funding, to address the need for better alternative proteins; this followed the launch of Joyn Bio in 2017 to bring more sustainable practices to the agriculture industry.