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GE Ventures, Northgate Capital back $16.5m Series E for genomics company RainDance

3 Mar 2014

dnaGE Ventures and Northgate Capital are the latest investors to back genomics tool company RainDance after leading a $16.5m Series E financing round.

All of RainDance’s previous investors took part in the financing round according to the company, which said the capital would be ploughed into commercial expansion.

The company has raised more than $100m from investors including Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods Partners, Sectoral Asset Management and Capital Royalty Partners.

GE Ventures becomes the second strategic investor in RainDance following an investment from Myriad Genetics in 2013

Sue Siegel, CEO of GE Ventures, said, “We believe technology will play a major role in transforming patient care and by partnering with leading innovators we can help scale the best new ideas in major industries like healthcare.

“We have followed RainDance’s progress for many years and are impressed with how the company’s cutting edge technologies are advancing the market and helping to bring in a new era of more accurate, non-invasive and cost-efficient testing for complex genetic disease research.”

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