Total amount raised
$600 Millions
Latest funding date
05/01/2022
Location
Ultima Genomics has successfully raised significant funding through various rounds, with notable investors such as General Atlantic and Playground Global. The company is known for its innovative UG 100 Solaris™ sequencing platform, which offers high output and low-cost sequencing solutions.
Keep reading to explore the intricacies of Ultima Genomics' fundraising journey and the investors backing this cutting-edge biotechnology platform.
What Is Ultima Genomics?
Ultima Genomics, founded in 2016, is a biotechnology company based in Newark, California. The company was established by Gilad Almogy and Mark Pratt. It operates within the biotechnology, health care, life science, and medical industries.
With an employee count ranging from 251 to 500, Ultima Genomics is dedicated to advancing genomic information to improve biology and human health. The company is known for its UG 100 Solaris™ sequencing platform, which offers high output and cost-effective sequencing solutions.
How Much Funding Has Ultima Genomics Raised?
- Amount Raised: $600M
- Date: May 2022
- Lead Investors: General Atlantic, Playground Global, Marius Nacht, aMoon, D1 Capital, Andreessen Horowitz, Khosla Ventures, Lightspeed, Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funding is aimed at scaling the company's technology to reduce the cost of genome sequencing to $100, making genomic information more accessible and useful in healthcare.
Total Amount Raised: $600M. Current Valuation: Not publicly disclosed.
Key Investors
- General Atlantic
- Details: General Atlantic is a global growth equity firm that invests in companies across various sectors. They have a strong focus on technology, healthcare, financial services, and consumer industries.
- Investment Focus Areas: Technology, healthcare, financial services, consumer.
- Notable Investments: Airbnb, Alibaba, Uber.
- Playground Global
- Details: Playground Global is a venture capital firm that focuses on early-stage investments in technology and hardware startups. They provide not just capital but also resources and expertise to help startups grow.
- Investment Focus Areas: Technology, hardware startups.
- Notable Investments: Nervana Systems, Canvas Technology, Righthand Robotics.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a venture capital firm that invests in early-stage and growth-stage technology companies. They are known for their significant investments in some of the most successful tech startups.
- Investment Focus Areas: Technology, biotech, consumer tech.
- Notable Investments: Facebook, Twitter, Airbnb.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on early-stage companies in various sectors, including technology and healthcare. They are known for their innovative approach to investing.
- Investment Focus Areas: Technology, healthcare, clean energy.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Lightspeed
- Details: Lightspeed is a venture capital firm that invests in the enterprise, consumer, and health sectors. They have a strong track record of supporting startups through various stages of growth.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snapchat, Nest, GrubHub.
What's Next for Ultima Genomics?
Ultima Genomics stands on the brink of revolutionizing the genomic sequencing industry with its groundbreaking technology. The company's ability to sequence genomes for just $100 opens up vast opportunities for early disease diagnosis and large-scale genetic studies. This technological leap could significantly impact healthcare by making genomic information more accessible and useful.
Given the substantial interest from high-profile investors, future fundraising rounds seem likely as Ultima Genomics scales its operations. However, the company will need to navigate challenges such as competition from established players like Illumina and maintaining its technological edge. The path ahead is promising but fraught with hurdles that will test the company's resilience and innovation.
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