The company had £13.8 million ($18.4 million) in revenues and a net loss of £56.6 million in 2017.
The company will use the funding to build a manufacturing facility, expand commercialization efforts, and develop new products.
Clive Brown, the company's chief technology officer, provided an update on the firm's business and talked about new products and planned improvements.
The system uses synthetic probes that bind to molecules of interest and then pass through solid-state nanopores, enabling detection of the target molecules.
The nanopore ZMW can enable lower starting amounts of DNA for PacBio sequencing, and may eventually enable direct RNA sequencing.
The team showed in a study this week that they could detect BRAF mutations in thyroid cancer, and believe the method could also allow blood-based early cancer detection.
The company is working on both strand- and exonuclease-based nanopore sequencing as well as developing nanopore sensor technology.
The firm will scale up manufacturing of its nanopore sensor, expand its executive team, and push development of its sequencing and genome mapping applications.
UCSF will analyze Two Pore Guys' handheld nanopore device for its ability to detect a KRAS mutation from patient blood and urine samples.
The UCSC spinout plans to launch a handheld nanopore sensor this year and will partner with diagnostic and other companies to develop assays.
The Trump Administration has proposed a plan to reorganize the federal government, the Washington Post reports.
Lawmakers have asked four direct-to-consumer genetic testing companies to explain their privacy policies and security measures, according to Stat News.
In Science this week: genetic overlap among many psychiatric disorders, and more.
The Economist writes that an increasing number of scientific journals don't do peer review.