NABsys, a US-based gene-sequencing company, has raised $10m in its series C round led by return investor Stata Venture Partners, the venture capital firm founded by chip maker Analog Devices co-founder and chairman Ray Stata.
In February last year, NABsys raised $7m in its B round, following $4m at launch in 2009, and Stata said: "NABsys represents the merger of two industries which, until now, have been quite disparate: semiconductors and genomics.
"I’m looking forward to working with the company’s leadership team and helping them commercialize what we believe will be a significant breakthrough in making DNA sequencing clinically relevant and widely available."
Ion Torrent, a unit of Nasdaq-listed Life Technologies is also developing a gene-sequencing machine that relies on semi-conductor technology, while UK-based Oxford Nanopore raised $41m from from investors including Illumina.