Atlas Data Storage Closes $155 Million in Seed Funding

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SOUTH SAN FRANCISCO <&sol;span><&sol;span><&sol;strong>&&num;8212&semi; Atlas Data Storage&comma; Inc&period;&comma; a technology company building end-to-end DNA data storage&comma; announced the close of a <span class&equals;"xn-money">&dollar;155 million<&sol;span> seed financing and the acquisition of technology assets from Twist Bioscience&period;<&sol;p>&NewLine;<p>The seed financing investors are ARCH Venture Partners&comma; Deerfield Management&comma; Bezos Expeditions&comma; Tao Capital Partners&comma; Rsquared VC&comma; Earth Foundry&comma; In-Q-Tel &lpar;IQT&rpar;&comma; and other undisclosed investors&period;<&sol;p>&NewLine;<p>Atlas is focused on commercializing data storage products that leverage the unique properties of synthetic DNA&colon; extremely high data density&comma; 1&comma;000&plus; year durability&comma; unlimited low-cost copies&comma; and scalability&period; The company is spearheading the convergence of synthetic biology and information technology&period; Atlas&&num;8217&semi; core technology combines novel semiconductor chips and enzyme engineering&comma; ushering in a new era of high-throughput and massively parallel chemistry performed on a chip&period;<&sol;p>&NewLine;<p>Atlas data center products will equip hyperscaler&comma; enterprise&comma; and government customers to meet the data storage demands of the AI era with low cost&comma; ultra-high density&comma; secure&comma; scalable storage&period; DNA data storage will be designed to enable greener data centers with permanent storage that requires no ongoing migration or rewriting&comma; reduced power demands&comma; and minimized carbon impact and e-waste&period;<&sol;p>&NewLine;<p>The company is led by an integrated team of data storage industry veterans and DNA and semiconductor technology experts&period; <span class&equals;"xn-person">Varun Mehta<&sol;span>&comma; highly experienced in the data storage industry&comma; will serve as CEO&period; Mehta is a veteran of several successful startups and was a founder of Nimble Storage&comma; which was acquired by Hewlett Packard in 2017&period; <span class&equals;"xn-person">Bill Banyai<&sol;span>&comma; who previously developed DNA sequencing technology at Complete Genomics and DNA synthesis technology at Twist Bioscience&comma; will serve as CTO&period; George Kadifa&comma; a tech industry veteran who served in key positions at Hewlett Packard&comma; IBM&comma; Oracle&comma; and <span class&equals;"xn-location">Silver Lake<&sol;span>&comma; will assume the role of Executive Chairman&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The opportunity to create an entirely new storage medium does not arise often&period; At Atlas Data Storage&comma; we are pioneering the use of DNA for high-capacity storage&comma;&&num;8221&semi; said Varun Mehta&comma; CEO of Atlas&period; &&num;8220&semi;DNA enables highly scalable&comma; ultra-dense&comma; secure&comma; permanent data storage&comma; and the potential to reshape storage is tremendous&period; Atlas has the right team and technology to realize this promise&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;Data is central to the modern economy&comma; and the amount of stored data is growing rapidly&comma;&&num;8221&semi; said George Kadifa&comma; Executive Chairman of Atlas&period; &&num;8220&semi;New technologies such as artificial intelligence are further accelerating demand for storage&period; I&&num;8217&semi;m confident that the data storage technology that Atlas is creating will enable storing billions and billions of terabytes at low cost&comma; power&comma; and waste&period; Atlas is also driving US leadership in key technology domains&comma; which will have an immense long-term economic and national security impact&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;