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Element Biosciences Raises $277 Million in Series D Venture Funding

Jul 12, 2024, 01:13 PM

Element Biosciences, a San Diego-based company specializing in next-generation sequencing (NGS), has successfully raised $277 million in a Series D venture funding round. The investment will enable the company to continue commercializing its AVITI benchtop genomic analyzer and launch its next product, AVITI24. This significant funding round positions Element Biosciences as a formidable competitor to Illumina in the DNA sequencing market. The company aims to leverage this capital to solidify its presence and drive rapid growth in the biotechnology sector.