Biomemory Raises $18M in Series A Funding
Summary
The round was led by Crédit Mutuel Innovation, with participation from investor of the French Tech Seed fund managed on behalf of the French State by Bpifrance within the scope of France 2030 and new investors Blast, the Deep Tech 2030 fund managed on behalf of the state by Bpifrance as part of France 2030, Paris Business Angels, Sorbonne Venture, Adnexus, Prunay, Next Sequence and Accelerem. The company intends to use the funds to: • Complete the development of the first generation of their data storage appliance optimized with their biotech processes. • Accelerate the development of partnerships with industry players and cloud providers • Recruit talent in molecular biology, and engineering in order to accelerate the development of the product and accelerate the commercialization Led by CEO Erfane Arwani, Biomemory is a company acting at the intersection of biotechnology and information technology whose primary focus and main priority is the development of a DNA-based end-to-end storage bay as an appliance in data centers. Utilizing proprietary technologies based on synthetic biology, the company produces long, bio-sourced, biocompatible, and bio-secure DNA fragments that can be stored as inert polymers for thousands of years without any energy input.