Catalog, a Boston, MA-based provider of a DNA-based platform for massive digital data storage and computation, secured $10m in Series A funding.
The round, which has raised $21M in total through investors including NEA, OS Fund, Data Collective, AME Cloud, and SOSV, among others, was led by Horizons Ventures, joined by Airbus Ventures.
The company intends to use the funds for early product trials and continued Research and Development.
Founded in 2016 by MIT scientists and led by CEO and Co-founder Hyunjun Park and newly appointed CTO Dave Turek, Catalog has developed a commercially viable solution that uses DNA as a storage device.
The company, in collaboration with Cambridge Consultants in the UK, developed an innovative device using technology similar to inkjet printers to convert the zeros and ones used to store binary data in traditional storage into a combination of pre-synthesized DNA molecules. This technology can hold a million times more data in the same volume of magnetic and solid-state media. Catalog’s custom-developed DNA writer and data storage system, Shannon, can write at a speed of over 10 Mb/sec and generates over a trillion identifiers in a single run. It can store up to 1.63Tb of compressed data in a single run.
FinSMEs
11/09/2020