SAN FRANCISCO — Nebula Genomics says it has raised $4.3 million in seed financing from 10 different venture capital firms. The funds will support the company’s mission to usher in the era of personal genome sequencing by creating a trusted, secure, and decentralized marketplace for genomic data. The company also has forged a partnership with Veritas Genetics, the leading whole genome sequencing and interpretation company, that will connect the Nebula marketplace to Veritas’ Arvados open-source software platform.
Nebula is based in San Francisco and has offices in Boston.
Seed investors include Khosla Ventures, Arch Venture Partners, Fenbushi Capital, Mayfield, F-Prime Capital Partners, Great Point Ventures, Windham Venture Partners, Hemi Ventures, Mirae Asset, Hikma Ventures and Heartbeat Labs.
“As a people-first firm and early-stage investor, we always begin with the entrepreneur as our first step,” said Tim Chang of Mayfield. “Kamal and Dennis have a unique vision of leveraging blockchain to enable consumer genetic sequencing at scale, and the involvement of genomics pioneer George Church makes this a dream team. When you combine that with Nebula’s unique business model and incentive design, we believe the company can grow into a leading pioneer of the genomics age.”
The coming genomic age holds immense promise for the development of personalized medicine, improving patient outcomes, and improving the quality of human life. To realize that potential, researchers need streamlined access to the individual genomes of millions or billions of people — individuals who are reluctant to share their genomes today because of concerns over privacy, trust, control and cost. Nebula’s marketplace will address those concerns directly, using blockchain and other technologies to put consumers in control of their genomic data, as well as by compensating individuals directly for the use of their data. That will encourage an ever-growing number of consumers to participate in the marketplace and create an essential resource for advances in research.
“Our investors, along with Veritas, share our commitment to lowering access barriers to genomic data, and solving one of the primary roadblocks preventing personalized medicine becoming a reality today,” said Kamal Obbad, CEO & co-founder of Nebula Genomics. “With this funding we are moving closer to a new age in personalized medicine.”