NEW YORK – SeqWell said today that it has raised $9 million in a Series B financing round.
Research Corporation Technologies (RCT) led the round and was joined by the BroadOak Fund and current investors.
The Beverly, Massachusetts-based company plans to use the funding to expand its PlexWell sequencing library prep technology into new areas, such as single-cell genomics and transcriptomics. Specifically, it will expand its R&D team as well as its commercial team to take advantage of business-to-business and original equipment manufacturing partnership opportunities.
"Our customers are in increasing need for integrated and scalable workflows for high-throughput genomic applications," SeqWell CEO Joseph Mellor said in a statement. "With this funding, SeqWell will be able to deliver the next generation of these solutions to drive new research and applications in sequencing."
Launched in 2014, SeqWell has been developing sequencing library prep products to support the analysis of large numbers of samples at low cost. A year ago, the company partnered with Gencove to enable low-pass whole-genome sequencing and genotype imputation. It also signed a number of international distribution agreements for its PlexWell technology.