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Tao Invest leads Twist Bioscience’s $26m Series B

27 May 2014

twistSan Francisco-based synthetic DNA producer Twist Bioscience has secured $26m in a Series B round led by Tao Invest.

Arch Venture Partners, Paladin Capital Group and Yuri Milner also participated in the round alongside other corporate and venture investors.

The company also said that it has secured a $5.1m contract from the Defense Advanced Research Projects Agency (DARPA) to fund the development of its technology platform for the construction of genetic designs.

Twist Bioscience CEO Emily Leproust said, “In just 10 months, we have established a top tier leadership and development team, created a working prototype of our 10,000-well silicon platform for synthetic DNA production and raised a total of $40.2m.

“Today, we have all the necessary components in place to automate and scale our synthetic gene manufacturing process and staff strategically, with the goal of bringing our first products and services to the market in 2015.”

Tao, which is led by Nick and Joby Pritzker, participated in a $55m venture capital funding round for grid-scale battery technology developer Acquion Energy earlier this year.

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