Sequentify raises $7 million to enable larger-scale DNA sequencing
The biotech startup will supply its next-gen sequencing libraries and software for cancer diagnostics, carrier screening, and Covid-19 monitoring
Israeli startup Sequentify has exited stealth mode with $7 million in raised funds led by Israel’s most active venture firm, OurCrowd. A spinoff of the Weizmann Institute of Science of Rehovot, the company enables fast and focused DNA sequencing, by combining tools from synthetic biology and artificial intelligence to enable rapid targeted DNA sequencing. The funds will be used to accelerate research and development, delivery, and go-to-market plans. Sequentify said it has seen 600% in revenue growth, and already has multiple hospitals and labs as customers. The company added that it has experienced a nearly seventy-fold valuation growth in less than 18 months.
Founded in 2021, Sequentify is based on a technology developed by Tamir Biezuner and Tom Fleischer. The company aims to democratize geomics by providing a DNA library for Next Generation Sequencing (NGS) and AI software that enables fast, cost-effective, and automated sequencing. Sequentify’s NGS products are based on its InfiniSeq proprietary platform and include Covid-19 surveillance, cancer diagnostics, carrier screening and more.
Sequentify plans to launch its InfiniSeq technology at the Biomed Israel 2022 conference on Wednesday. During the Covid-19 pandemic, Sequentify’s Covid-19 mutation surveillance kit enabled mapping the entire Covid-19 viral genome in a cost-effective, fast and automated process supporting the identification of existing and emerging variants such as Omicron and Delta.
"Sequentify enables DNA screening at scale with the goal of making genomics as common and affordable as testing for blood counts,” said Ophir Herbst, co-Founder and CEO of Sequentify.
OurCrowd CEO Jon Medved added: “We’re excited to be leading this round because the DNA revolution has just begun and Sequentify has the best next generation sequencing solution in the market.”