NEW YORK — Eagle Genomics said on Monday that it has raised $20 million in the first close of a private funding round, which the company will use to continue development of its microbiome data analysis platform and expand its commercial footprint.
The financing round, which remains open to enable additional investments of up to $10 million, is being led by Abrdn with participation from existing investors Environmental Technologies Fund and a consortium headed by Granpool Innovative Investments.
Eagle said the money will be used to further advance its e[datascientist] software platform, which analyzes genomic and microbiome data at scale for assessing the viability, efficacy, and safety of products. The UK-based company said it will also use the funds to continue expanding into international markets.
Earlier this year, Eagle formed a collaboration with the Quadram Institute around microbiome data research.