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Grandomics Raises Nearly RMB 100M in Series B Financing

This article has been updated to clarify that Marathon Venture Partners was the lead investor in this round.

NEW YORK (GenomeWeb) – Chinese third-generation sequencing provider Grandomics Biosciences said it has raised almost RMB 100 million ($15.1 million) in a Series B financing round.

Marathon Venture Partners was the lead investor in the round, with additional participation from Beijing Changping Technology Innodevelop Group and Matrix Partners China. Hao Yue Capital served as an independent financial consultant.

Grandomics, based in Beijing, said it will use the funding for research and development, to obtain additional intellectual property, and to pursue its strategic goals, which includes the clinical application of new sequencing technology for genetic disorders. The company also plans to enter the international market for plant, animal, and microbiome analysis and provide additional services to its global partners.

The company operates a center that is equipped with 20 Oxford Nanopore GridIon X5 sequencers, one Oxford Nanopore PromethIon sequencer, six Pacific Biosciences Sequel sequencers, and two Bionano Genomics Saphyr genome mapping instruments.

In addition, it has partnered with Alibaba Cloud and Huawei Cloud to establish a computing platform with large capacity and high performance, allowing it to provide sequencing data analysis and cloud storage services globally.

Grandomics is part of the Grandomics Group, which operates Grandomics, focused on clinical applications, and Nextomics, dedicated to scientific research.  Grandomics has concentrated its efforts on genetic disease detection, tumor diagnostics, assisted reproduction, and microbiomes.

The new funding round follows a Series A round in 2016 with investors Matrix Partners China, SAIFPartners, and Zero2IPO.