Biomemory Secures $18 Million in Series A Funding to Revolutionize Data Storage With Molecular Technology
Summary
SAN FRANCISCO, December 10, 2024--(BUSINESS WIRE)--Biomemory, the pioneering DNA data storage company, today announced it has raised $18 million in Series A funding. The round was led by Cr\xe9dit Mutuel Innovation, with participation from historical 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. "Biomemorys innovative approach addresses critical issues in traditional data storage, including sustainability, longevity, and density. An exciting challenge 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 Cr\xe9dit Mutuel Innovation. 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.