US-based genomics technology developer 10x Genomics has received $50m in series D equity funding from investors including telecommunications and internet group SoftBank.
Private equity firm Meritech Capital Partners led the round, which also featured financial services firm Wells Fargo’s Strategic Capital unit, financial services group Fidelity and investment firm Paladin Capital. It was secured alongside $75m in debt financing from Silicon Valley Bank.
10x is combining novel microfluidics, chemistry and bioinformatics technology to develop tools to be used in genomics research. The capital will support strategic investments, innovation, international growth and an increase in its manufacturing capabilities.
Serge Saxonov, 10x Genomics’ co-founder and chief executive, said: “We have been fortunate to achieve leadership positions across multiple scientific fields in a short amount of time. The really exciting thing is that we are just getting started.”
The round took the company’s overall equity financing to approximately $185m since it was founded in 2012, including $20m in series A funding from Venrock and Foresite Capital Management in 2014.
The two investors were joined by Paladin and funds managed by Morgan Stanley Investment Management for a $55m series B round later the same year, before 10x secured $55m from SoftBank, Fidelity, Venrock, Foresite, Paladin and JS Capital Management in a 2016 series C.