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Evonetix Raises $24M in Extended Series B Funding Round

NEW YORK – Synthetic biology company Evonetix said on Tuesday that it has completed a $24 million funding round, extending its total Series B funding to over $54 million.

This round was led by existing investor Foresite Capital, with Molten Ventures, Morningside, DCVC, Cambridge Consultants, Civilization Ventures, and Providence also participating and follows Evonetix's £23million ($27.5 million) Series B funding in 2020.

The company plans to use the funds to continue developing its semiconductor chip-based DNA synthesis technology to commercial scale and extend its gene assembly capabilities.

The Cambridge, UK-based company's chips contain numerous reaction sites that enable highly parallel, thermally controlled enzymatic DNA synthesis.

The company launched an early-access program for its DNA synthesis platform in August.

"This substantial investment round demonstrates continued confidence in the progress of our technical development and its potential to revolutionize the accessibility of gene synthesis," Evonetix CEO Colin McCracken said in a statement.