Total amount raised
$56.7 Millions
Latest funding date
1/1/2020
Location
Deep Genomics has successfully raised $180 million over multiple funding rounds, with its latest Series C round closing in July 2021. The company leverages artificial intelligence to develop genetic therapies, positioning itself at the forefront of AI-driven drug discovery.
Keep reading to explore the intricacies of Deep Genomics' fundraising journey and the investors backing this innovative platform.
What Is Deep Genomics?
Deep Genomics, founded in 2014, is headquartered in Toronto, Ontario, Canada. The company was established by Andrew Delong, Brendan Frey, Hannes Bretschneider, and Hui Yuan Xiong.
Specializing in AI-driven genetic therapies, Deep Genomics leverages artificial intelligence to analyze RNA biology, identify novel targets, and evaluate therapeutic candidates. Their proprietary AI Platform, BigRNA, and BigRNA+ are central to their innovative approach.
With a team of 51-100 employees, Deep Genomics continues to push the boundaries of drug development, aiming to program therapies for any gene and any genetic condition.
How Much Funding Has Deep Genomics Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the foundational technology and initial research capabilities.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources without diluting equity.
- Seed Round
- Amount Raised: $3.7 million
- Date: November 2015
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the AI platform and validate initial hypotheses.
- Series A
- Amount Raised: $13 million
- Date: September 2017
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate research and development.
- Series B
- Amount Raised: $40 million
- Date: January 2020
- Lead Investors: Future Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the AI platform and move therapeutic candidates into preclinical stages.
- Series C
- Amount Raised: $180 million
- Date: July 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the AI discovery platform and advance the clinical pipeline.
Total Amount Raised: $236.7 million. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank Vision Fund
- Details: A Japanese multinational conglomerate holding company known for its investments in technology, energy, and financial sectors.
- Investment Focus Areas: Technology, AI, innovative companies.
- Notable Investments: Alibaba, Uber, WeWork.
- Canada Pension Plan Investment Board (CPPIB)
- Details: A professional investment management organization that invests the funds of the Canada Pension Plan.
- Investment Focus Areas: Public equities, private equities, real estate, infrastructure, fixed income.
- Notable Investments: Enbridge, Glencore, various real estate and infrastructure projects.
- Fidelity Management & Research Company LLC
- Details: An American multinational financial services corporation providing investment management, retirement planning, portfolio guidance, and brokerage services.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Google.
- True Ventures
- Details: A Silicon Valley-based venture capital firm that invests in early-stage technology startups.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Fitbit, Peloton, Ring.
- Khosla Ventures
- Details: An American venture capital firm focused on early-stage investments in technology and healthcare.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Square, DoorDash, Impossible Foods.
What's Next for Deep Genomics?
Deep Genomics stands at the cusp of a transformative era in biotechnology. With $180 million in recent funding, the company is poised to advance its AI-driven platform, targeting genetic diseases with unprecedented precision. Collaborations with industry giants like BioMarin Pharmaceutical Inc. and the potential to bring four drugs into human trials by mid-2023 highlight the vast opportunities ahead.
Future fundraising seems promising, especially with the possibility of a public offering as early as 2023. However, the path forward is not without challenges. Navigating the complexities of RNA biology, ensuring successful clinical translations, and maintaining a cohesive culture amid rapid growth will be critical. As AI continues to revolutionize drug discovery, Deep Genomics is well-positioned to lead the charge, provided it can overcome these hurdles.
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