The company will use the funding to build a manufacturing facility, expand commercialization efforts, and develop new products.
Genetic Technologies and Blockchain Global may partner to develop medical and biotechnology applications that combine their respective technologies.
Private equity firm Quadria Capital led the investment round and was joined by HealthQuad Fund and Heritas Venture Fund.
The firm said recent breakthroughs in its technology will enable sequencing "at commercially compelling levels of read length, accuracy, process speed, and workflow efficiency."
The new funding comes from life sciences investment firm Perceptive Advisors. Home Care Assistance CEO Lily Sarafan has also joined Counsyl's board.
The firm said that it is expecting a research grant from the National Science Foundation that will partly fund efforts to improve the cost efficiency of its DNA sequencing process.
The funding will go toward bringing the BA100 test to clinicians. The test can identify patients most likely to respond to the standard of care chemotherapy treatment.
About £3.7 million ($4.9 million) of proceeds from the placement would go toward the acquisition, while remaining funds will support assay development validation, and working capital.
The company said it plans to use the proceeds raised in the private placement primarily to fund its Hodgkin's lymphoma test clinical trial.
Rosetta entered into a definitive agreement with an institutional healthcare investor for a $2 million private placement.
Berkeley researchers have engineered yeast to make the molecule behind the hoppy taste of beer, Quartz reports.
King's College London researchers examine the influence of school type and genetics on academic achievement.
FiveThirtyEight writes that most who take a direct-to-consumer BRCA1/2 genetic test won't learn much from it.
In Science this week: early life experience influence somatic variation in the genome, and more.