London-based genomic data start-up Lifebit Biotech has raised $60 million in a Series B funding round, led by technology investment firm Tiger Global Management, with participation from existing investors Eurazeo, Pentech Ventures, and Beacon Capital.
Lifebit stated that the funding will be used to further its global expansion and increasing headcount.
Dr Maria Chatzou Dunford, Lifebit’s chief executive, said: “We believe all biomedical data that can be used to save lives, should be used. People are dying because of how this data is being handled, and making distributed highly-sensitive biomedical data usable while keeping it secure in-place and combining it with other data has never been possible. It’s great to see how excited our investors are to support our mission and our first-of-its-kind transformative technology. With this new strategic backing, we will continue to expand our global presence, with a specific focus on customer success and accelerating the growth of our team.”
John Curtius, partner at Tiger Global, added: “We are confident that Lifebit’s innovative and industry-leading software solutions, paired with their customer-first approach, will drive rapid global adoption and accelerate breakthroughs in precision medicine.”
Date published: September 29, 2021