BillionToOne, a Menlo Park, California-based precision diagnostics company, in a recent press release statement, announced closing a highly oversubscribed Series A funding round raising $15 million in investment funding. The Series A funding round was led by Hummingbird Ventures and NeoTribe Ventures and was participated by Y Combinator, Civilization Ventures, Fifty Years, 500 Startups Istanbul, and HOF Capital.
The Menlo Park-based BillionToOne is renowned as the inventor of the patent-pending molecular counter platform, which by over a thousand folds increases the resolution of cell-free DNA detection.
BillionToOne plans to utilize this new funding to support the growth and launch of its first product—UNITY, a non-invasive prenatal test for recessively inherited single gene disorders.
“BillionToOne’s molecular counter improves the resolution of cell-free DNA testing by over a thousand-fold, meaning we can detect disorders other tests can’t. It’s the difference in finding a haystack verses the needle in the haystack.” stated Oguzhan Atay, Ph.D., co-founder and CEO of BillionToOne. “The result is an increase in accuracy at a much more granular level.”
“Our investment thesis is grounded in finding and supporting extraordinary entrepreneurs globally, and David and Oguzhan match our notion of entrepreneurial excellence,” stated Firat Ileri of Europe-based Hummingbird Ventures. “We’ve invested with conviction that BillionToOne’s sequencing platform has the ability to unlock the full clinical potential of cell-free DNA.”
“BillionToOne’s new deep-tech platform can create an exciting new category of cell-free DNA testing that is affordable and accessible,” stated Kittu Kolluri, co-founder and managing director of NeoTribe and former general partner at New Enterprise Associates (NEA). “We are excited to join BillionToOne and be a part of its growth as they revolutionize the clinical utility of genomic sequencing.”