Friday, July 27, 2018

Quantapore Collects $15.55M

Menlo Park-based Quantapore, a startup developing DNA sequencing technology, recently raised $15.55M in a funding round. The company said the Series 3 Preferred Stock funding was led by Northern Light Venture Capital (NLVC), and also included Tsingyuan Ventures, Sangel Venture Capital, Baidu Ventures and Cloudstone VC. As part of the funding, NLVC's Feng Deng has joined the company's board. Quantapore says it has developed nanopore sequencing technology, which it says allows for rapid and accurate DNA sequening at one tenth the cost of existing technology.