London, February 8, 2021: LifeArc announced today a £10 million cornerstone investment in the funding cycle of Illumina Accelerator Cambridge. This is part of over £20 million in initial UK capital commitments Illumina has secured from a select group of investors.
The UK commitments will provide pound-for-pound match funding to every Illumina Accelerator Cambridge graduate that secures between £500,000 up to £4 million in qualified new capital, within one year of graduation.
The announcement was made as Illumina announced nine new genomics companies to join the global funding cycle of Illumina Accelerator in the US and UK. The global company creation engine, focused on partnering with entrepreneurs to build breakthrough genomics startups, invested in four companies for the second funding cycle of Illumina Accelerator Cambridge, UK and five companies for the twelfth funding cycle of Illumina Accelerator San Francisco Bay Area.
Illumina Accelerator provides the selected startups with access to seed investment, access to Illumina sequencing systems and reagents, as well as business guidance, genomics expertise, and fully operational lab space adjacent to Illumina’s campuses in Cambridge or the San Francisco Bay Area.
For further information, please see: Illumina Accelerator Invests in Nine Genomics Startups for Second Global Cycle
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