10x Genomics Secures $55 Million Series C Funding to Advance Next-Generation Sequencing Platforms Ahead of IPO

10x Genomics, a gene sequencing company based in California, is planning to launch broader next-generation gene sequencing services and has announced the completion of its Series C financing round. The round raised $55 million, led by Fidelity Management, with participation from SoftBank, JS Capital Management, Venrock, Foresite Capital, Paladin Capital, and others. The funds will be used to develop its next-generation gene sequencing products, further signaling that 10x Genomics is poised for rapid expansion.


The company’s GemCode platform product suite comprises instruments, reagent kits, and bioinformatics software. It enables whole-genome sequencing, single-gene expression analysis, and exome analysis, facilitating the detection of novel structural variants and providing a more comprehensive view of human health. The instruments, reagent kits, and software currently offered by the company play a significant role in generating final sequencing data. Furthermore, by integrating the GemCode platform with Illumina sequencers, researchers can obtain long-read genomic information without the need to purchase an entirely new sequencing instrument.

Last month, 10x Genomics signed a marketing collaboration agreement with Illumina to boost sales of its Linked-Read sequencing products. By leveraging the GemCode platform alongside existing Illumina sequencers, researchers can obtain long-range genomic information without the need to purchase an entirely new sequencing instrument. Currently, 10x Genomics’ products are compatible exclusively with Illumina sequencers.

Compiled by Wang Jinfan