US-based biotechnology company 10x Genomics closed a $55m series C round yesterday led by financial services group Fidelity Management and Research that included telecommunications firm Softbank.
JS Capital Management, Venrock, Foresite Capital and Paladin Capital also committed funds to the round.
Founded in 2012, 10x Genomics is developing technology that can be integrated with existing lab infrastructure to increase the amount of information that can be gained through genetic sequencing platforms.
The money will go towards accelerated sales and marketing efforts and additional product development.
Foresite Capital Management led a $55m series B round for 10x Genomics in 2014 that also featured Venrock, Paladin and funds managed by Morgan Stanley Investment Management.
Venrock led a $20m series A round in 2014 that also included Foresite. 10x Genomics also raised $4.5m in an earlier seed round, though no further details are available.
Serge Saxonov, chief executive of 10x Genomics, said: “We are thrilled to have the support and experience of world-class investors to help us meet the rapidly growing demand for our products and applications and support our rapid innovation.”