The nanopore sequencing platform developer has closed a $15.5m series 3 round backed by Tsingyuan Ventures.

US-based nanopore sequencing technology developer Quantapore has secured just over $15.5m in a series 3 round featuring Tsingyuan Ventures, a venture capital firm with ties to Tsinghua University. VC firm Northern Light Venture Capital led the round, which also included Baidu Ventures, a corporate venturing subsidiary of internet group Baidu, Sangel Venture Capital and Cloudstone VC. It was disclosed as the company formally emerged from stealth mode. Quantapore is working on a nanopore sequencing platform that can quickly and accurately sequence DNA at what it claims will be a far lower cost than rival systems. The technology is based on an optical interaction between a single DNA molecule and a nanopore. The company closed a $35m series B round in 2014 that was funded by unnamed investors, before raising an undisclosed amount in a September 2016 series C round led by China BioPharma Capital I, a VC fund advised by TVM Capital Life Science. – A version of this article first appeared on our sister site, Global Corporate Venturing.

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