DNA synthesis technology provider, Molecular Assemblies, recently raised a Series A funding valuing $12.2 million, led by existing investors.
iSelect Fund injected cash for the company, as well as Agilent Technologies, Alexandria Venture Investments, and Keshif Ventures.
According to the company, the financing will be used to enhance the company’s enzymatic DNA synthesis tech for medicine, agriculture, and data storage. The San Diego-based company plans to create a unique method to store huge amounts of data in a small area.
“Our ability to reliably, affordably, and sustainably produce long, high-quality DNA can accelerate life science research and transform the information storage industry by enabling integrated systems that can write and read DNA data,” said CEO Michael Kamdar.
The famous synthesis of DNA tech is used for different applications. One of which is to create genetically engineering immune cells to fight cancer, add new traits to crops, and produce industrial chemicals.
Kamdar also shared gratitude towards investors who believe in the potential of the enzymatic DNA synthesis. He also added that while existing investors are continuing the initial support, new partners are also emerging that can help the company operate better.
DNA As Efficient Data Storage
The DNA takes lesser energy compared to the mechanical approach such as hard drives and flash memory. Hence, it helps manage mountains of information and computer-generated data. In a recent report, scientists were able to measure how DNA effectively stores large amounts of data. In an article published by Popular Mechanics, it is said that the entirety of YouTube content can fit on a teaspoon.
The technology can store more than 10 petabytes of data in a single gram of the DNA. Hence, it is considered one of the most efficient data storage solutions for commercial entities, government agencies, and others.
The Molecular Assemblies had raised its first funding way back in December 2016, earning $2.3 million from a round of investors. Last year, the company announced that it will test the abilities of the DNA synthesis to retrieve information from a text message. As proof of concept, the company has converted text messages into the os and 1s of computer-speak.
The test is one of the firsts in the data storage industry, which uses DNA to retrieve data such as a text message.
Molecular Assemblies was founded 30 years ago and since then, the company has contributed advancement in technology and data storage.