BioNanomatrix Inc., a Philadelphia-based developer of molecular imaging and analytic platforms for analyzing the genome, has raised $5.1 million in Series A funding led by Battelle Ventures affiliate Innovation Valley Partners. KT Venture Group also invested, while seed backers Ben Franklin Technology Partners and 21Ventures participated via debt conversion.
Battelle Ventures, LP, has led the $5.1-million Series A funding round of BioNanomatrix, Inc., a Philadelphia-based company developing and commercializing nanoscale, single-molecule imaging and analytic platforms designed to dramatically reduce the time and cost needed to analyze the genome.
The round was joined by Battelle Ventures' affiliate fund, Innovation Valley Partners, and by KT Venture Group (the investment partner of KLA-Tencor). Seed investors Ben Franklin Technology Partners and 21Ventures also participated in the financing, through debt conversion.
“By applying its nanotechnology-based, single-molecule detection capabilities to the development of innovative products for genetic analysis and clinical diagnostics, BioNanomatrix has the potential to successfully commercialize a truly disruptive technology