Evonetix lands £20m for DNA synthesis semiconductors

Evonetix Series B Image credit: Evonetix

Deeptech startup Evonetix has landed $24m (£20m) in an extension investment round led by Foresite Capital, which brings its Series B total to $54m (£45m).

Cambridge-based Evonetix conducts DNA synthesising by using a computer chip that manages thermal reactions on “thousands of independent thermally controlled reaction sites” and the construction of DNA in “days” as opposed to “weeks”.

“Evonetix is in a very exciting phase, having recently opened our early access program. This investment will support us as we execute on our commercial strategy to put benchtop gene synthesis in the hands of users,” said Colin McCracken, CEO of Evonetix.

The commercialisation of Evonetix’s DNA computer chips and added gene assembly potential is planned with the Series B investment. It has said its tech has applications in data storage, agriculture, food, biotech and pharmaceutical.

Jim Tananbaum, founder and CEO, Foresite Capital, said: “We continue to be impressed by the Evonetix team and technology, and are excited to lead this round to accelerate their commercial strategy and make gene synthesis more accessible.”

Supporting Foresite Capital were Molten Ventures, Morningside, DCVC, Cambridge Consultants, Civilization Ventures and Providence.

Evonetix’s technology is another demonstration of the UK’s semiconductor expertise, an area that is currently calling for an official semiconductor strategy from the government.