US-based genomics technology developer 10x Genomics has added $35m to a series D round featuring telecommunications and internet group SoftBank that now totals $85m.
The extension was led by private equity firm Meritech Capital and included financial services firm Wells Fargo’s Strategic Capital unit and financial services and investment group Fidelity.
Meritech also led the $50m first tranche, which included SoftBank, Fidelity, Wells Fargo Strategic Capital and Paladin Capital, in April 2018. 10x has now raised a total of $243m in funding according to Forbes, and is valued at $1.28bn.
Founded in 2012, 10x is developing tools to help biomedical research institutes, pharmaceutical companies and clinics complete genomics research.
The series D capital will fund strategic investments, including the recently announced acquisitions of Epinomics and Spatial Transcriptomics, as well as the company’s international expansion plans.
Serge Saxonov, chief executive and co-founder of 10x Genomics, said: “As a company, we have seen tremendous growth and expansion in the last year. We have released new products, announced new facilities, and welcomed two incredible companies to the 10x team.”
10x completed a $20m series A round in 2014 that included Venrock and Foresite Capital Management, both of which also participated in a $55m series B round later the same year, investing alongside Paladin and funds managed by Morgan Stanley Investment Management.
SoftBank subsequently invested in the company’s $55m series C round in 2016 together with Fidelity, Venrock, Foresite Capital, Paladin and JS Capital Management.