A Paris, France-based company, Biomemory, that stores and synthesizes DNA data is said to have raised €5 million in Seed funding. The Paris Business Angels and the French Tech Seed Fund supported the cause as well as eureKARE, which led the charge with help from Prunay Impact and the round.
The company plans to use the money to improve its technologies.
DNA data storage company Biomemory was founded in 2021. Its goal is to help the climate change challenge posed by data centers, which currently have a greater carbon footprint than civil aviation. The company is developing a copy process that uses synthetic biology to create DNA with no carbon input. Their processes utilize mechanisms evolved over 4 billion years— long enough to store biocompatible and bio-secure DNA fragments as inert polymers for thousands of years. Biomemory’s leader Erfane Arwani is also the President of the company.
Biomemory believes it can reduce the cost of stored biomemory information to $1 per megabyte. In the future, they hope to decrease costs to $1 per terabyte. Through further development and implementation of their ideas, these predictions seem likely. In comparison, a Magnetic Tape would cost 10 years worth of expenses for $17 per terabyte. Biomemory’s goal is to create a continuous and automated microfluidic DNA assembly device that is end-to-end integrated. This will be done through various methods such as miniaturization, automation and parallelization.
eureKARE believes that Europe has the potential to become a leader in the field of synthetic biology. This is due to the continent’s large number of health and environmental challenges that can be addressed with this technology. As a result, eureKARE focuses on financing and developing new synthetic biology initiatives across Europe. EureKARe is a medical biology research and development firm that pushes for new business models. The organization’s affiliated studios connect academia and industry to develop ideas into companies with access to all the necessary ingredients for success. This encourages new businesses to grow, thrive and provide benefits to society at large.