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Gencove Raises $10M in Series A Financing

NEW YORK – Low-pass genome sequencing firm Gencove said on Tuesday that it has closed a $10 million Series A financing round.

Lewis & Clark AgriFood led the round, joined by new and existing investors, including Spero Ventures, Techammer, Third Kind Venture Capital, and Version One Ventures. In a statement, Gencove said the funding would be used for product development and commercial growth and to build key business functions.

"Gencove's platform and datasets can help unlock the genetic underpinnings of our health and well-being," Larry Page, managing director at Lewis & Clark AgriFood, said in a statement. "We are thrilled to be part of a company whose technology has such broad consumer and industrial applications from agrigenomics, biotechnology, virology to medical diagnoses, disease susceptibility, and response to medical treatment."

The New York-based firm, a spinout from the New York Genome Center, has now raised a total of $16.2 million, including $3 million in March 2019. It offers low-pass sequencing and analytics software as a service.