NEW YORK – Genomic data curation startup Genome Insight said on Thursday that it has raised $23 million in Series B financing.
The round was led by Dunamu & Partners, with additional support from new investors InterVest, Signite Partners, KC, and VNTG. Existing investors DSC Investment, Paratus Investment, and Schmidt also participated in the round.
Genome Insight said the funding will be used to advance the company's data production and curation pipelines to enable the "scalable investigation" of whole-genome sequencing data for cancer and rare diseases.
"With the falling cost of genome data production, we are at the tipping point of a whole-genome-based transformation in treating genetically driven illnesses such as cancer and rare diseases," Genome Insight Cofounder Young Seok Ju said in a statement. "We plan to bring the analysis and interpretation technologies to make whole-genome sequences meaningful."
A Korea Advanced Institute of Science and Technology (KAIST) spinout, Genome Insight was founded in 2020 in South Korea by Ju and Jeong Seok Lee, both physician-scientists and professors at KAIST. The company said it incorporated as a US company earlier this year and is now headquartered in San Diego, with R&D offices in Seoul and Daejeon.