GenomesDAO Secures Investment from Pantera Capital and Modular Capital
The GenomesDAO team is proud to announce that we have successfully completed a new investment round. This round was led by industry giants Pantera Capital and Modular Capital, marking a significant milestone in the company’s journey to transform the genomics landscape.
Revolutionizing Genomic Data Storage
GenomesDAO’s flagship product, Genomes.io, operates as a decentralized network of virtual vaults designed to securely store genomic data. This innovative platform ensures that data can be queried in the safest, most equitable, and transparent manner possible. Developed in collaboration with AMD and utilizing SEV-ES technology, Genomes.io stands at the forefront of secure genomic data handling.
Accelerating Development with New Funds
The fresh infusion of capital will enable GenomesDAO to fast-track its direct-to-consumer (DTC) initiatives while further developing its Virtual Labs. These labs are poised to offer pharmaceutical companies and research organizations cutting-edge tools for the analysis and interpretation of genomic data, with pilot labs expected to launch this summer.
Strategic Partnerships and Industry Support
Aldo de Pape, CEO of GenomesDAO, expressed his enthusiasm about the new partnerships:
“We are thrilled to partner with Pantera Capital and Modular Capital. Their expertise in scaling blockchain companies is invaluable and will help us advance our mission to make the genomics market safer, more transparent, and more equitable for everyone.”
Vincent Jow, Managing Partner of Modular Capital, shared his optimism about the collaboration:
“We are excited to back GenomesDAO as they attack one of the largest TAMs in not only Decentralized Science, but all of web3. By using blockchain with advanced encryption software, Genomes.io allows consumers to regain control of their genetic identity and structurally improve this market by offering privacy, monetization, and higher engagement.”
Cosmo Jiang, Portfolio Manager at Pantera Capital, emphasized the transformative potential of Genomes.io:
“Genomic sequencing has proven to be an area of great interest for both users and researchers, but to date, questions around data privacy have limited its adoption. Genomes.io is leveraging the unique advantages of blockchain technology to solve that very issue. We believe that their commitment to security and transparency could transform this industry, and we are excited to be a part of GenomesDAO in the next leg of this journey.”
Looking Ahead
With the support of Pantera Capital and Modular Capital, GenomesDAO is well-positioned to lead the charge in creating a more secure, transparent, and equitable genomics market. As the company continues to innovate and expand, the future looks promising for both the biotech sector and the consumers who will benefit from these advancements. Stay tuned as GenomesDAO makes strides in decentralized genomics, ensuring a safer and more inclusive future for genomic data.
