Fast-scaling genomic data technology company, Zetta Genomics, has secured £1.9 million in a second seed funding round. New investment comes from existing VC backers as the company configures for Series A funding.
Key highlights:
- Zetta Genomics has secured £1.9 million in a second seed funding around, to improve research, medical and healthcare outcomes of genomics at scale.
- The latest investment was lead by Nina Capital, joined by APEX Ventures and Cambridge Enterprise.
- The second round funding builds on the £2.5 million first seed round secured in February 2022, and ideally positions Zetta Genomics for growth as it approaches Series A funding in 2024.
The successful close demonstrates ongoing confidence in Zetta Genomics and its transformational XetaBase platform – to unlock the improved research, medical and healthcare outcomes of genomics at scale.
Healthtech investment
Zetta Genomics’ latest funding sees fresh commitments from first round global investors – some of the most innovative and successful healthtech VCs in the world. Lead investor Nina Capital is joined by APEX Ventures and Cambridge Enterprise, the innovation arm of the University of Cambridge.
Zetta Genomics CEO, Mark Bailey, said: “Today’s seed funding exceeded our initial ask, showing the excitement building around Zetta Genomics’ game changing XetaBase data analytics platform. We now have the strategic headroom to configure for growth – to scale our technologies, enhance customer focus, and create a cycle of ongoing product innovation. This investment sees us one step closer to realising predictive, precision genomics – transforming research, healthcare and the lives of millions.”
Scale, deliver and innovate
Second round funding ideally positions Zetta Genomics for growth as it approaches Series A funding in 2024 – to:
- encompass 500,000 genomes under management;
- configure customer success capabilities – to continue excellence in delivery while capturing and focusing on fast-evolving customer priorities;
- deepen bioinformatics and translation expertise;
- build out engineering capabilities to ensure a continuous cycle of innovation, development and delivery;
- Continue to grow internationally, with an initial focus on the UK, US and Spain.
Marc Subirats, partner at Nina Capital, said: “Zetta Genomics is a company in the right place at the right time with the right technology. Genomic-enabled predictive and precision medicine promises uniquely targeted research, therapeutics and care.
Preventing avoidable conditions and treating disease efficiently and effectively, we will see radical improvements not just in health, but health economics.
"It is a future that depends on transformational genomic data management and analytics – and Zetta Genomics is uniquely positioned to deliver.”
Accelerate momentum
The latest £1.9 million investment accelerates momentum and builds on Zetta Genomics’ £2.5 million first seed round secured in February 2022. In just 13 months, the company has:
- attracted global leadership talent – including CEO Mark Bailey;
- grown headcount from five to 30;
- opened new headquarters in Cambridge UK and an office in Valencia, Spain;
- expanded genomes under management to over 120,000;
- progressed towards CA, CE and ISO 20000-1 certification;
- met an ambitious £800,000 revenue target;
- built out strategic partnerships with industry leaders including Microsoft, Fujitsu and Syneos.
Dr. Elaine Loukes, investment director at Cambridge University, said: "Cambridge Enterprise is committed to developing and investing in high-impact technologies emerging from the University of Cambridge. It was apparent from our early meetings with the founder, Ignacio Medina, that Zetta Genomics was developing not only a high-impact technology, but a paradigm-shifting one.
"By helping to enable the era of genomic medicine, we believe the Zetta platform has the potential to improve health outcomes for millions of people around the world in the next few years. We are delighted to see the strong progress the company has made and very much look forward to continuing to support them."