France’s Biomemory raises Series A for DNA-based storage
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DNA-based storage company Biomemory SA (Paris, France) has raised US$18 million in a Series A round of funding led by Credit Mutuel Innovation.
The round included the participation existing investor the French Tech Seed fund managed on behalf of the French state by Bpifrance.
Investors also include the Blast fund, also managed on behalf of the French state by Bpifrance, Paris Business Angels, Sorbonne Venture, Adnexus, Prunay, Next Sequence and Accelerem.
In December 2023 Biomemory launched its first product, a DNA-based storage card at a price of €1,000 with a capacity of 1kbyte of text data! The technology has a long life span with a minimum life time of 150 years, Biomemory claims. The company said it would use the latest tranche of funds for product development and to expand its research front and partnerships.
Biomemory was co-founded by CEO Erfane Arwani in 2021 as a spin-off from Sorbonne University and CNRS.
Biomemory claims that storing data in the synthesised DNA molecules provides such high data storage density that the technology gas the potential to store all of humanity’s data in a space in a single 19-inch rack.
“An exciting challenge lies ahead to reinvent data storage and bring this industry a new complementary cutting-edge solution to improve its sustainability and drastically reduce its environmental and social impact,” said Alexis Riou, deeptech investor at Crédit Mutuel Innovation, in a statement issued by Biomemory.
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