Biotech startup Arima Genomics Inc. has recently announced that it has completed Series A funding round led by Agilent Technologies and Cowin Venture. The funding round also saw participation from Vectr Ventures and Berkeley Catalyst Fund.
The company plans to use these funds for expanding its commercial efforts and adding new applications to the existing Arima HiC platform. The company is also planning to scale operations and enhance customer service.
According to a company press release, “The proceeds from this financing will go toward expanding Arima’s commercial efforts, driving the development of new applications to the existing Arima HiC platform including adding structural analysis capabilities to conventional chromatin immunoprecipitation via HiChIP and building new products including smooth-coverage HiC for applications in gap-less de novo assemblies and population sequencing. The funding will also support the scaling of Arima’s operations and enhancing customer service and support experience.”
Talking about the investment, Tad Weems, Managing Director of Agilent’s Early Stage Partnership Program said, “Agilent invests in industry partners to advance the development of new technologies that will accelerate the pace of scientific discoveries.”
He further added, “Arima has the potential to unlock novel genomic applications by leading the community’s transition from focusing on sequence alone toward sequence and structure.”
Commenting on the recent infusion of funds, Siddarth Selvaraj, CEO, and Co-founder of Arima Genomics, Inc. said, “Since the initial product launch in 2018, Arima has shown remarkable success in achieving customer confidence as demonstrated by a rapid customer and revenue growth. We are excited to invite our investors to Arima’s fascinating journey and thrilled to partner with them to drive the next phase of growth.”
Arima Genomics, Inc. is a biotechnology company that aims to accelerate the understanding of genome sequence and structure.
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