Cambridge-based startup Zetta Genomics expands second seed funding round with additional £1.8 million
Fast-scaling genomic data pioneer, Zetta Genomics, has expanded its second seed round securing an additional £1.8 million. Demonstrating continued confidence from first-round VCs, this seed expansion round attracted fresh investment from diagnostics startup specialist We Venture Capital.
Ignacio Medina, Founder and CEO, Zetta Genomics: ''Zetta Genomics is already making a difference to patients as XetaBase empowers clinicians to make faster and more accurate diagnoses at scale. With this extension to our second seed funding round now finalised, we are scaling and innovating our technologies, and enhancing customer focus.''
Zetta Genomics’ latest funding sees fresh commitments from second-round global investors – some of the most innovative and successful healthtech VCs in the world: Nina Capital; Apex Ventures; and Cambridge Enterprise. New investment comes from We Venture – the innovation VC arm of global specialised diagnostics leader, Werfen. WeVenture strengthens Zetta Genomics’ investor expertise with a focus on innovative diagnostic startups poised to transform markets.
Louise Warme, Head, We Venture Capital: ''Zetta provides an incredibly powerful tool for analysis and data management in the quickly expanding NGS market. Increased speed and precision in analysis will support both patient outcome as well as workflow for the healthcare system and research. We are very impressed with the Zetta teams´ capacity and very much look forward to our collaboration going forward.''
The second seed funding extension precedes Series A, planned for late 2024, and allows Zetta Genomics 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 and continue international growth, with an initial focus on the UK, US and Spain.
Marc Subirats, General Partner, Nina Capital: ''Genomic-enabled predictive and precision medicine has the potential to deliver uniquely targeted research, therapeutics and care – driving radical improvements to both health outcomes and health economics. Zetta Genomics’ genomic data management and analytics technologies are ideally positioned to deliver on genomic potential.''
This latest £1.8 million investment accelerates momentum and builds on Zetta Genomics’ £2.5 million first seed round finalised in February 2022 and £1.9 million in April 2023. Since then, Zetta Genomics has expanded its footprint with new headquarters in Cambridge UK and offices in Valencia, Spain and built out strategic partnerships with industry leaders including Microsoft, Fujitsu and IQVIA.
Elaine Loukes, Investment Director, Cambridge University: ''Zetta Genomics’ pioneering technologies – spun out from the University of Cambridge – are maturing to the point where they will make medical research more efficient, deliver ever more effective care – and make this care more affordable. Zetta Genomics’ technologies will power improved health outcomes for millions of people around the world.''