PetaGene Ltd.

PetaGene Ltd. is an innovative company specializing in lossless genomic data compression, providing advanced solutions to manage genomic data effectively for research and clinical applications. PetaGene Ltd. was founded in 2016 in Cambridge, UK, focusing on developing technologies to compress large genomic data files.

The company's founders, Dan Greenfield and Vaughan Wittorff, aim to enhance data management for genomics. In December 2018, PetaGene raised USD 2. 1 mn in Series A funding, led by Romulus Capital, bringing the total amount raised to USD 2. 1 mn.

PetaGene has completed three deals to date, with the most recent deal occurring on December 19, 2018. PetaGene specializes in lossless genomic data compression, primarily offering its core product, PetaSuite, which includes the PetaSuite Cloud Edition and PetaSuite Protect. These products significantly reduce the size of genomic data files, achieving compression rates of 60% to 90% without compromising data quality. PetaGene's solutions allow transparent access to compressed files, enabling users to utilize existing tools and pipelines seamlessly.

The company caters to a diverse clientele, including leading institutions like AstraZeneca and the Princess Máxima Center for Pediatric Oncology, across Europe, North America, India, and the Middle East. PetaGene generates revenue primarily through direct sales of its software solutions to businesses and research institutions involved in genomic research and clinical diagnostics. The business model revolves around subscriptions and partnerships, allowing clients to leverage their compression technology for effective data management. Customers typically purchase licenses for PetaSuite, which may include options for on-premises deployment or cloud solutions, facilitating flexible pricing structures that cater to client needs.

PetaGene aims to expand its product offerings and market reach. They are developing new features within PetaSuite to enhance data management capabilities, with planned releases in the upcoming year. The company is also targeting expansion into new geographic regions, specifically focusing on North America and Asia by 2024. The USD 2.

1 mn raised in the Series A funding will support these growth initiatives, allowing PetaGene to advance its technology and market penetration efforts.