NEW YORK – UK data management firm Zetta Genomics said Monday that it has raised £1.9 million ($2.3 million) in a second seed funding round.
The investment comes from existing backers, namely lead investor Nina Capital, with participation from Cambridge Enterprise and Apex Ventures. The company raised a £2.5 million seed round early last year.
Zetta, a spinout of the University of Cambridge, has developed a predictive platform, called XetaBase, for the storage, management, and interrogation of large-scale genotypic and clinical data for precision medicine applications.
The firm said that it will use the new investment to position itself for a Series A round in 2024. That strategy includes improvement of its engineering capabilities to support future innovation and technology delivery, setting up customers for success in their precision medicine endeavors, and growing in its initial target markets of the UK, US, and Spain.
"We now have the strategic headroom to configure for growth — to scale our technologies, enhance customer focus, and create a cycle of ongoing product innovation," CEO Mark Bailey said in a statement.