San Diego-based genetics company Molecular Assemblies has secured $12 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Oct. 1 and led by iSELECT FUND.
According to its Crunchbase profile, "The Molecular Assemblies story began more than 30 years ago as co- founders, Dr. Bill Efcavitch and Curt Becker commercialized the first practical method of synthesizing DNA. A breakthrough! A critical and enabling technology for the emergence and growth of the early biotech industry."
The 7-year-old company has raised two previous funding rounds, including a $4.5 million round in 2017.
The round brings total funding raised by San Diego companies in biotechnology over the past month to $51 million. The local biotechnology industry has produced 57 funding rounds over the past year, raking in a total of $2 billion in venture funding.
In other local funding news, food-and-beverage and food-processing company Galley Solutions announced a $2.5 million seed funding round on Oct 18, financed by Zetta Venture Partners.
According to Crunchbase, "Galley helps restaurants, caterers and other types of food businesses collect and understand the food data behind their operations to empower them to make more profitable decisions. Galley helps master day-to-day operations with real-time inventory management, purchasing and food costing, empowering business intelligence and productivity in kitchens everywhere."
Founded in 2017, the company has raised three previous rounds, including a $210,000 pre-seed round in 2018.
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