NEW YORK – French DNA synthesis and data storage company Biomemory has received €5 million in seed funding, one of the firm's lead investors said on Monday.
The round was led by investment company Eurekare and the French Tech Seed Fund, managed by Bpifrance, with the support of Paris Business Angels, Prunay Impact, and existing investors.
Founded in 2021, Paris-based Biomemory is developing a "petrol-free DNA synthesis and copy process based on synthetic biology," Eurekare said in a statement. With the funds raised, the company will optimize the technology while reducing its costs.
Eurekare said Biomemory currently has the potential to reduce the cost of DNA synthesis to $1 per megabyte, and, through further optimization, the method can achieve $1 per terabyte.
To accomplish this cost reduction, Biomemory will focus on miniaturization, automation, and parallelization of an end-to-end integrated and continuous microfluidic DNA assembly device.