Biotech company continues to gain momentum in its quest to revolutionize the decentralized genomics market.
LONDON, UK / ACCESSWIRE / June 12, 2024 / GenomesDAO, a pioneering biotech company focused on the secure, private, and auditable monetization of genomic data, today announced the successful completion of a new investment round led by Pantera Capital and Modular Capital.
GenomesDAO's flagship product Genomes.io, operates as a decentralized infrastructure of virtual vaults that securely stores genomic data, enabling it to be queried in the safest, most equitable, and transparent manner possible. It was built in partnership with AMD, using SEV-ES technology.
The newly raised funds will empower Genomes.io to accelerate its DTC efforts while developing its Virtual Labs. These labs provide pharmaceutical companies and research organizations with advanced tools for the analysis and interpretation of genomic data, with the first pilot labs expected to start this summer.
"We are thrilled to partner with Pantera Capital and Modular Capital. Their expertise in scaling blockchain companies is invaluable and will help us advance our mission to make the genomics market safer, more transparent, and more equitable for everyone," said Aldo de Pape, CEO of GenomesDAO.
"We are excited to back GenomesDAO as they attack one of the largest TAMs in not only Decentralized Science but all of web3. By using the blockchain with advanced encryption software, Genomes.io allows consumers to regain control of their genetic identity and structurally improve this market by offering privacy, monetization and higher engagement," said Vincent Jow, Managing Partner of Modular Capital.
"Genomic sequencing has proven to be an area of great interest for both users and value for researchers, but to date, the questions around data privacy have limited its adoption. Genomes.io is leveraging the unique advantages of blockchain technology to solve that very issue. We believe that commitment to security and transparency could transform this industry, and we are excited to be a part of GenomesDAO in the next leg of this journey," said Cosmo Jiang, Portfolio Manager, Pantera Capital
About Genomes.io
Founded in London in 2018, Genomes.io is the product suite of GenomesDAO. Genomes.io is a secure DNA data storage and sharing application that enables users to sequence, store, and commercialize their genomic data. It offers individuals the opportunity to find out more about themselves genetically whilst also providing biotech and pharmaceutical organizations with equitable access to genomic data for research and development purposes.
GenomesDAO was awarded the Deloitte Tech Fast 50 Challenge Award in Berlin in 2022 and is part of the World Innovation Summit for Health.
About Pantera Capital
Pantera Capital is the first institutional investment firm focused exclusively on bitcoin, other digital currencies, and companies in the blockchain tech ecosystem. Pantera launched the first cryptocurrency fund in the United States when bitcoin was at $65/BTC in 2013. The firm subsequently launched the first exclusively blockchain venture fund. In 2017, Pantera was the first firm to offer an early-stage token fund. Pantera manages $6bn across three strategies - passive, hedge, and venture.
About Modular Capital
Modular Capital is a crypto investment firm founded in 2022. The firm invests across early stage VC and liquid venture tokens, with a fundamental and thesis-driven approach. Modular serves as collaborative partners to portfolio companies, through research pieces, facilitating strategic introductions, advising on go-to-market, strategy, tokenomic design, actively using protocols, bootstrapping liquidity, and more.
Contact Information
Aldo de Pape
CEO
aldo@genomes.io
SOURCE: Genomes.io
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