ChromaCode, Inc., a Carlsbad, Calif.-based molecular testing company, raised $10m in Series C extension with an investment from Adjuvant Capital.
The investment brings the company’s total Series C funding to $38m. Managing Partner Jenny Yip will join ChromaCode’s Board of Directors.
Funding from this round will support global expansion and continued development of ChromaCode’s PCR platform (HDPCR™), through which the company recently launched a high-throughput SARS-CoV-2 Assay. Adjuvant joins existing investors Northpond Ventures, New Enterprise Associates (NEA), Domain Associates, Windham Ventures, Okapi Ventures, Moore Venture Partners and the California Institute of Technology.
Led by Co-founder, President and CEO Greg Gosch, ChromaCode is a software and reagent technology company that uses digital signal processing to improve clinical molecular analysis. The company’s core of data scientists and molecular biologists leverage patented mathematical methods and algorithms to extract new information from biochemistry reactions.